Chap. 285.—An ACT to incorporate the Nelson Savings Bank.
Approved March 4, 1884.

1. Be it enacted by the general assembly of Virginia, That
Robert Whitehead, J. R. Peebles, M. K. Estes, J. L. Coleman,
G. KE. Cashir, J. B. Whitehead, J. D. Horsby, William M.
Hill, T. W. Shelton, and such other persons as may hereafter
be associated with them, or any of them, shall be and they
are hereby made a body politic and corporate under the name
and style of the Nelson Savings Bank, to be located at Nelson
courthouse, Virginia.

2. The capital stock of said bank shall not be less than five
thousand dollars, nor more than one hundred thousand dol-
lars, to be divided into shares of twenty-five dollars eack ;
subscriptions to the capital stock shall be payable at such
times and in such proportions as may be called for by the
board of directors ; and if any subscriber shall fail to pay the
same so called for upon each and every share so held, within
twenty days after the same has been called for, then the
amount so called for may be recovered by motion, upon ten
day’s notice in writting to the subscriber, in any court of
record in the county or corporation of, the residence of the
subscriber to such stock. The liability of the stockholders
of said bank is limited to payment for the stock subscribed
to by them respectively. All indebtedness of any stock-
holder to said bank shall be a lien on any stock owned or
standing in the name of such stockholder at the time of the
creation of the indebtedness or subsequently thereto, and any
claimant of said stock, by purchase or otherwise, shall take
the same subject to such lien, and said lien may be enforced
by sale of such stock, at public auction, by any official of said
bank, atter publication of notice once a week tor four weeks
in some newspaper. Each stockholder shall, for each share
of stock held, be entitled to cast one vote.

3. Books for subscription shall be at such time and after
such notice, and the time for the first meeting of the stock-
holders and the notice of such meeting shall be fixed by the
majority in number of the corporators herein named. All
other notices by the general law to be published, shall be pub-
lished once a week for four wecks in licu of the time fixed by
the general law regulating corporations.

4. Said bank shall have the right to loan money on such
security as it may deem proper; to discount notes, bonds,
bills of exchange and other paper: provided the rate of inter-
est for money loaned shall not be greater than a half of one
per centum per month; but the interest or discount may be
demanded and paid in advance; and shall have the right to
buy, sell and guarantee stocks notes, bills of exchange and
any evidence of debt, upon such terms and rates as may be
agreed upon; and said bank shall have power and authority
to purchase or otherwise acquire such real or personal estate
as may be deemed judicious and proper for conducting its
business; and said bank is authorized to receive money on
deposit and to grant certificates of deposit therefor.

9. This act shall be in force from its passage.