Chap. 11.——An ACT to amend Chapter 507 of the Acts of Assembly of 1928, ap-
proved March 27, 1928, and known as the Virginia Banking Act, by adding
thereto a new section to be numbered Section 44-a relating to the liability of
banks and trust companies for payment of checks, notes and acceptances, bear-
ing forged or unauthorized endorsements. [S B 24}

Approved February 16, 1946

Be it enacted by the General Assembly of Virginia:

1. That chapter five hundred seven of the Acts of Assembly of
nineteen hundred twenty-eight, approved March twenty-seventh, nine-
teen hundred twenty-eight, and known as the Virginia Banking Act, be
amended by adding thereto a new section to be numbered section forty-
four-a, reading as follows:
Section 44-a. Payment of checks, notes and acceptances bearing
forged or unauthorized endorsements; liability of bank; notice to de-
positor ; how given.—No bank or trust company in this state which has
paid a check, note or acceptance payable at said bank or trust company,
bearing a forged or unauthorized endorsement, shall be liable to a deposi-
tor for such payment, unless either (one) within two years after notice
to said depositor that the vouchers representing payments charged to the
account of said depositor for the period during which such payment was
made are ready for delivery, or (two) in case no such notice has been
given within two years after the return to said depositor of the voucher
representing such payment, said depositor shall notify the bank or trust
company in this state that the check, note or acceptance so paid bore such
forged or unauthorized endorsement. The notice referred to in this sec-
tion may be given by mail to said depositor, at his last-known address,
with postage prepaid.