Chap. 320.—An ACT adding new sections to the Code of Virginia providing
for the regulation of State banks and fixing certain penalties for the

violation thereof.
Approved March 14, 1912.

1. Re it enacted by the general assembly of Virginia, That
the following new sections to be known as sections eleven hundred
and fifty-five-a, eleven hundred and fifty-five-b, eleven hundred
and fifty-five-c and eleven hundred and fifty-five-d, providing for
the regulation of State banks and fixing penalties, be added to the
Code of Virginia:

§1155-b. It shall hereafter be unlawful for any bank, savings
bank, savings society, savings institution, trust company or any
banking institution chartered under the laws of this State with
authoritv to receive deposits, to invest in its bank building and
premises an amount greater than its paid in capital stock un-
diminished by losses. For any violation of this section the of-
fending corporation shall be liable to a fine of not exceeding one
thousand dollars, to be imposed and judgment entered therefor
by the State corporation commission, and shall be enforced by iis
process.

§1155-d. Before any bank, savings bank, savings institution
or trust company hereafter incorporated under the laws of the
State shall commence the business of receiving deposits, it shall
obtain from the State corporation commission a certificate au-
thorizing it to commence business; and prior to the issuance of
such certificate the commission shall, through its chief bank ex-
aminer, make a thorough investigation to ascertain that all the
provisions of law have been complied with and that the necessary
amount of capital stock has actually been paid in. The bank
within ten days after the receipt of the certificate from the said
State corporation commission shall cause the same to be published
in some newspaper printed in thé county or city where such bank
is located for a period of two weeks, or if no newspaper is pub-
lished in said county or city, then such publication shall be made
at the nearest county seat at which a newspaper is published.
Proof of such publication shall be filed with the State corporation
commission. Any bank, savings bank, savings institution or trust
company hereafter incorporated, or any partnership, individual
or individuals not engaged in the business of receiving deposits
on January first, nineteen hundred and ten, who shall violate this
section, shall be subject to a fine of not less than twenty-five nor
more than one hundred dollars per day for each day's violation
of this section, said fine to be imposed and judgment entered
therefor by the State corporation commission, and shall be en-
forced by its process.