Chap. 233.—An ACT to amend and re-enact section 4114 of the Code of Sant
[S B 201
Approved March 14, 1924.

1. Be it enacted by the general assembly of Virginia, That section
forty-one hundred and fourteen of the Code of Virginia be amended and
re-enacted so as to read as follows:

Section 4114. For what purpose banks may purchase, hold and con-
vey real estate.—Every such bank or banking institution may purchase,
hold, and convey real estate for the following purposes and for none
other: .

First. Such as shall be necessary for its immediate accommodation
in the transaction of its business;

Second. Such as shall be mortgaged or otherwise encumbered to it
in good faith by way of security for debts contracted;

Third. Such as shall be conveyed to it in the satisfaction of debts
previously contracted in the course of its dealings;

Fourth. Such as it shall purchase at sales under judgments, de-
crees, mortgages or deeds of trust held by it, in whole or in part or shall
purchase to secure debts due to it; but no such bank or banking institu-
tion shall hold the possession of any real estate under mortgage or other
encumbrance, or the title and possession of any real estate purchased
to secure any debts due to it, for a longer period than ten years.