Chap. 705.—An ACT to incorporate the Richmond real estate and trust com-
pany.

Approved March 5, 1894.

1. Be it enacted by the general assembly of Virginia, That John
A. Coke, John R. Williams, Charles U. Williams, J. W. Anderson,
John R. West, W. Brydon Tennant, Arthur C. Harman and John I.
Boswell, junior, all of the city of Richmond, and all other persons
who shall hereafter become associated with them, be, and they are
hereby, made a body politic and corporate by the name of the Rich-
mond real estate and trust company, and by that name shall have
perpetual succession and a common seal, and shall be entitled to
all the rights conferred and subject to all the restrictions imposed
by the laws of Virginia upon corporate bodies, so far as the same
are applicable and not inconsistent with this act.

2. The capital stock of said company shall be not less than twenty-
five thousand dollars nor more than five hundred thousand dollars,
to be divided into shares of one hundred dollars each, and shall be
paid for and transferable on the books of said company as directed
by its board of directors.

When not less than the minimum amount of the capital stock of
said company has been subscribed, and ten per centum of same shall
have been paid in cash, the stockholders, or a majority of them, may
elect not less than nine directors, who shall elect from among their
number a president, vice-president and a secretary and treasurer,
which officers shall serve for one year, and thereafter until their suc-
cessors are elected. The directors so elected (who shall all be citi-
zens of the United States, and two-thirds of their number residents
of the state of Virginia) shall have power to prescribe the rules and
regulations for the government of the affairs of said company, not
inconsistent with this act, and they may from time to time amend
the same by a two-thirds vote of their number. The charter of said
company,. together with the rules and regulations, shall be printed,
and shall be accessible to all parties doing business with the com-

any.

P 3. The capital stock of said company shall be invested in bonds,
notes or other evidences of debt, secured by deed of trust or mort-
gage upon fee simple or leasehold estate, or otherwise safely secured,
or in bonds of the United States, or in bonds of the state of Virginia,
or in bonds of incorporated cities within the state, or in real estate
and suitable buildings thereon in which to conduct the business o
the company, as the board of directors may deem best.

4. That it shall be lawful for said company to transact a genera
real estate business; to act as agent, broker or attorney for buying
holding, leasing, selling and insuring real or personal estate; to ac
as agent for renting and collecting rents, interest, dividends and in
comes of all kinds, on all classes of property, real or personal ; fo
the payment of taxes, ground or water rents, or charges of whatsoeve)
kind; for repairing, building and the general management of proper
ties; to negotiate loans on real or personal estate, secured by deed o
trust, mortgage, ground rent or otherwise ; to purchase and to sell th
same, and to guarantee the payment of principal and interest on th
same ; to examine titles of real estate and guarantee the validity of th:
same; to issue negotiable certificates of value on any real or persona
estate under the management of, or on deposit, or on storage, or i1
trust with said company; to receive and execute trusts of every de
scription, under the appointment of courts, corporations and indi
viduals; to act solely, or in connection with individuals or corpora.
tions, as trustee, guardian, executor, adiministrator, assignee, receiver
committee, curator, agent or attorney, or in any fiduciary capacity
whatsoever; and become surety on the bonds of such persons or cor.
porations acting as such: provided such company complies with any
general law relating to such subjects; to act as transfer agent, regis-
trar of stocks and bonds of corporations or municipalities; to receive
money, securities, bonds, notes or any personal property from any
person or corporation on deposit, or in trust, or on storage for safe-
keeping or otherwise, and to purchase, hold, collect, adjust, settle or
dispose of the same upon such terms as may be agreed upon; to in-
vest the money on deposit or in trust with said company at such
legal rate of interest as may be agreed upon.

5. That it shall be lawful for said company to purchase, hold, sell
and convey any real or personal property which may be acquired in
the collection or settlement of debts due in its own right or as trus-
tee, guardian, executor, administrator or any other fiduciary capacity
imposed or conferred upon it; to borrow money and execute its bonds
or notes for the same.

6. That it shall be lawful for any court having jurisdiction to ap-
point said company a trustee, executor, guardian, administrator, as-
signee, receiver, committee, curator, or in any fiduciary capacity
whatsoever; and as such the said company may be appointed by any
corporation, or by any person or persons by deed, will or other
writing.

7. That it shall be lawful for said company to make, execute and
issue, in the transaction of its business, all papers, receipts, certifi-
cates, vouchers and contracts which shall bear the impression or
the stamp of the company, and shall be signed by the president and
countersigned by the secretary.

8. That the principal office of said company shall be located in
the city of Richmond, Virginia.

9. That said company shall pay all taxes, debts, dues and de-
mands from the state of Virginia in lawful money of the United
States: provided that nothing contained in this act shall be con-
strued as exempting the company doing business hereunder from
the operation of tax laws of the state for such cases made and
provided.

10. The general assembly of Virginia reserves the right to amend,
alter or repeal this charter at any time.

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