Chap. 272.—An ACT to amend and re-enact an act entitled an act to amend
and re-enact an act entitled an act to allow executors and other fidt-
ciaries to invest in Virginia three per centum bonds issued by virtue of
an act approved February 14, 1882, as amended by an act approved Feb-
ruary 9, 1898, as amended by an act approved March 22, 1916.

[H B 143)
Approved March 16, 1918.

Be it enacted by the general assembly of Virginia, That an act
entitled an act to amend and re-enact an act entitled an act to allow
executors and other fiduciaries to invest in Virginia three per centum
bonds issued by virtue of an act approved February fourteenth,
eighteen hundred and eighty-two, as amended by an act approved
February ninth, eighteen hundred and ninety-eight, as amended
by an act approved March twenty-second, nineteen hundred and six-
teen, be amended and re-enacted so as to read as follows:

Section 2700-a. Executors, administrators, trustees and other
fiduciaries may invest the funds held by them in a fiduciary capacity
in the following securities, which are and shall be considered lawful
investments:

(1) In the bonds issued under the act approved February four-
teenth. eighteen hundred and eighty-two, commonly known as the
Riddleberger bonds.

(2) In the stock or bonds or interest-bearing notes or obliga-
tions of the United States or those for which the faith of the United
States is pledged to provide for the payment of the principal and
interest, including the bonds of the District of Columbia.

(3) In the bonds of anv county, citv or town in Virginia:
provided, the amount of the bonds of such county, city or town,
including the issue in which such investment is made does not exceed
eighteen per centum of the assessed value of the real estate in the
county, city or town subject to taxation as shown by the last preced-
ing assessment for taxes, and provided the said bonds are the direct
obligation of the county, city or town issuing the same, and for
which the faith and credit of the issuing county, city or town is
pledged. ,

(4) In bonds and negotiable notes secured by first mortgage
or first deed of trust on unencumbered real estate in the State of
Virginia, not to exceed the assessed value of said real estate and
improvements, or fifty per centum of its true value.

Before anv loan is made upon real estate the lender shall be
furnished with a satisfactory abstract of title, certificate of title or
title insurance policy and a fire insurance policy in an old line
company with loss, if any, made payable to the trustee as his interest
may appear. ,