Chap. 63.—An ACT to change the name of the Virginia mercantile and safe de-
posit company of Richmond, Virginia, and to amend and re-enact sections
1 and 4 of an act to incorporate the Virginia mercantile and safe deposit
company of Richmond, Virginia, approved January 24, 1890.

Approved January 22, 1894.

1. Be it enacted by the general assembly of Virginia, That the
name be, and is hereby, changed to the “ Title and trust company,”
and that sections one and four of the act approved January twenty-
fourth, eighteen hundred and ninety, entitled an act to incorporate
the Virginia mercantile and safe deposit company of Richmond,
Virginia, and sections one and four of an act to incorporate the Vir-
ginia mercantile and safe deposit company of Richmond, Virginia,
approved January twenty-fourth, eighteen hundred and ninety, be
amended and re-enacted so as to read as follows:

§ 1. Be it enacted by the general assembly of Virginia, That Wil-
liam H. Palmer, Lewis Ginter, Marshall M. Gilliam, Charles Wat-
kins, W. H. Jones, W. J. Johnson, James N. Boyd, Charles E. Belvin,
John R. Williams, W. J. Whitehurst, Howard Swineford, E. A.
Saunders, and such others as are and may be associated with them
and their successors, be, and they are hereby, made a body politic
and corporate by the name of the “ Title and trust company,” which
shall hereafter be the name and style of said corporation in place of
the name heretofore borne by it, and by that name shal! have perpetual
succession and a common seal, and shall have, enjoy and exercise
all rights, powers and privileges pertaining to corporate bodies con-
ferred by the laws of Virginia.

§ 4. The said company is hereby authorized and empowered to
examine the title of real or personal estate, and guarantee or insure
the validity of the same, and to lend-money on real or personal
security; to purchase bonds, notes and mortgages secured by rea! or
personal estate within the United States; to act as agent for the
sale of real estate, farms and country lands, both at auction and
privately, but all sales at auction shall be by a regular licensed
auctioneer, or for negotiating loans on the same, or for developing
the farming and mining in this state; to purchase, hold and convey
real and personal estate; to act as agent or attorney in leasing, con-
veying and managing real and personal estate and receiving and
collecting rents and other moneys; to furnish or receive collateral
security for the payment of money or the performance of contract,
and to accept and execute trusts of any and every description which
may be committed or transferred to it, with its consent, by any per-
s0n or persons, bodies corporate or public, or by any court in the
state of Virginia, or in any of the United States or territories; and in
all cases, where an application may he made to any court having
jurisdiction, to appoint a curator, guardian of an infant, committee
of an idiot or insane person, administrator of any person dying
testate or intestate, trustee or receiver, such court shall have power
to appoint said company as such curator, guardian, committee, ad-
ministrator, trustee or receiver, upon the like application that any
person might be so appointed; and it shall be lawful for any person
by deed, will or other writing to appoint said company a trustee,
executor, guardian, assignee or receiver, and as such executor, guar-
dian of an infant, committee of an idiot or insane person, adminis-
trator, trustee, assignee or receiver, said company may lawfully act,
and as such shall be subject to all the obligations and liabilities of
natural persons acting in like capacities. Whenever an oath 1s re-
quired upon qualification in any office or position of trust men-
tioned in this act, or whenever it is necessary for the said company
to give bond, such oath may be made, or such bond may be given by
an officer or authorized agent of said company. A power of attorney,
conferring authority on an agent of the company, shall be deemed
duly proved if acknowledged before an officer authorized to take
acknowledgments of deeds; to insure the fidelity of persons, com-
panies or corporations holding places of trust or responsibility; to
act as fiduciary or surety for fiduciaries; to endorse for or become
surety for the faithful performance of any trust or duty or contract ;
to goupon any bond for appeal, injunction, attachment or other
bond required by law of any person: provided that said company
shall not, in any case, become surety on an official bond of a state
or county officer, and in every such case the capital stock of said
company shall be taken and considered as sufficient security there-
for: provided on examination of the officers and affairs of the said
company, or otherwise, the court shall be satisfied as to the suffi-
ciency of said company, and its property shall be liable; to invest
moneys received in trust or deposit, loan or otherwise; to act as fis-
cal agent of any state, municipality or corporation, and in such
capacity receive and disburse money, transfer, register and counter-
sign certificates of stock, bonds or other evidences of debt; to receive
deposits of money, securities, bonds, notes and any personal property
from any person or corporation, and the same to hold, collect, adjust,
settle, purchase, sell and dispose of upon such terms as may be
agreed upon hetween it and the parties contracting with it; and
generally to do all such acts and transact all such business as mav
lawfully be done by banks of discount and deposit and savings banks
under the laws of Virginia; and to borrow money and execute its
notes or bonds for the same ; to maintain and let for hire vaults.
safes and like receptacles to persons or corporations desiring a safe
deposit for valuables.

The stockholders of this company shall not be personally lable
for any loss, debt or contract of the said company, except to the ex.
tent of any unpaid subscription to the capital stock of said company:

provided that nothing contained in this act shall be construed as

exempting the company doing business hereunder from the opera-

tion of the tax-laws of the state for such cases made and provided.
2. This act shall be in force from its passage.