Chap. 420.—An ACT to amend and re-enact section 2 of an act entitled an
act to provide a new charter for the iron belt building and loan association
of Roanoke, Virginia.

Approved February 20, 1900.

1. Be it enacted by the general assembly of Virginia, That section
two of an act entitled an act to provide a new charter for the iron
belt building and loan association of Roanoke, Virginia, approved Feb-
ruary twentieth, eighteen hundred and ninety-six, be, and the same is
hereby, amended and re-enacted so as to read as follows:

§ 2. The capital stock of said company shall consist of not less than
three thousand nor more than one hundred thousand shares of stock
of the par value, when fully paid up and matured, of one hundred
dollars each; but when any shares shall have been matured, forfeited,
or withdrawn a like number of additional shares may be issued in lieu
thereof. The said stock may be issued in one or more denominations,
to be paid by monthly instalments, after the manner of building and
loan associations, in such amounts, manner, and at such times, and
enforcible by such fines and penalties as may be prescribed by the by-laws.
The company may, however, issue and sell paid-up stock upon such
terms, rules, and regulations as may be prescribed by the by-laws, and
either with or without accumulating interest thereon. For the pur-
pose of defraying the operating expenses of the company and extending
its membership the members thereof shall pay such fines and assess-
ments, monthly or semi-annually, as may from time to time be provided
for by the by-laws. To further encourage its members in the acquisi-
tion of property the company may, upon special terms and conditions,
and subject to the rules and regulations established by the bv-laws,
issue to its members obtaining an advance, additional shares of stock
not subject to contribution to the expense fund, and not to exceed one-
half in number of the total number of shares necessary to the advance
in any case. And the said company may receive from its members or
others, moneys on deposit and issue certificates of deposit therefor
at such rate of interest as may be agreed upon, and may employ and
invest such moneys either in the ordinary course of its business or in
the purchase of other property, securities, or choses in action.

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