intention to re

of surveyor, by failure to recommend or commission, or by expiration of the term of office, the former surveyor shall preserve all papers and records in the said office, and do and perform all the other duties of surveyor, until such appointment be made; and if a successor be appointed, shall deliver over to him all papers and records connected with the said office, under a penalty of fifteen hundred dollars. And it shall hereafter be the duty of the sur- Notice of removal, veyors, or any of them, who may remove, resign, or again desire sign, &c. to be the appointment, to give public notice thereof, at least three months given. before the expiration of the term of office to which they have been appointed, or the period at which they may resign; and it shall Surveyors to be thereupon be the duty of the county courts, respectively, to recommend to the executive a fit and proper person to fill the said office of surveyor, who, as well as all others appointed under this act, How removable. shall be removable upon good cause shewn.

3. This act shall be in force from the passage thereof.

CHAP. 296.—An ACT further to extend the charter of the bank of Virginia,

and for other purposes.*

(Passed February 17th, 1830.)

appointed.

Commencement.

Preamble.

for nine years and

one month.

Whereas, the stockholders of the bank of Virginia have, at a late meeting, authorized the presentation of a memorial to the general assembly, praying for an extension of their charter : 1. Be it therefore enacted by the general assembly, That the char- Charter extended ter of the said bank of Virginia, as granted by the act passed the thirtieth day of January, one thousand eight hundred and four, entitled, "an act for incorporating the bank of Virginia," and extended by an act passed on the twenty-fourth day of January, one thousand eight hundred and fourteen, entitled, an act for extending the charter of the bank of Virginia, and for other purposes," shall be, and the same is hereby extended from the first day of May, in the year one thousand eight hundred and thirty-three, for the term of nine and one twelfth years thence next ensuing during which period, all the rights, privileges and immunities shall be possessed and enjoyed by the corporation of the bank of Virginia, and its respective members, as if the expiration of the said extended charter had, by the provisions of the existing charter, been deferred to the period to which it is by this act extended. (a)

2. Be it further enacted, That the said bank shall have the pri- Branch establishvilege of establishing, and shall establish, in the course of the cur- ed at Danville. rent year, an office of discount and deposite at Danville, upon the same footing in all respects, with those now established at Petersburg, Fredericksburg and Lynchburg: Provided, That stockhol- Qualifications and ders in sufficient number, and of proper qualifications for directors thereof, shall be found resident in Danville, and the adjacent country: And provided, That the said bank may, if in its discretion it deems it expedient, appoint seven persons only, for the purpose of managing the said office, as directors thereof. (b)

Acts 1829-30, ch. 10, p. 16.

(a) Bank incorporated in 1804, 2 Rev. Code 1819, ch, 193, pp. 67-76. Charter to continue in the first instance eighteen years: in 1814, extended fifteen years, to expire in 1833, ibid. ch. 194, pp. 76-80; by this act to terminate in 1842, at which time the charters of all the banks in the state, are made to expire. Information required of the president of the bank in his annual report to the joint committee of the legislature, post. ch. 312.

(b) 2 Rev. Code 1819, ch. 193, § 5, 8, art. 15th, p. 74; ch. 194, § 5, 10, p. 78. Office of discount and deposit authorized at Charlestown, Kanawha county;

number of directors.

per share to be

Three per centum 3. Be it further enacted, That in consideration of the extension paid by stockhold- of said charter, there shall be paid to the commonwealth, on each ers other than the share of the stock of the said bank, held by other stockholders

state.

To be paid within

five years after the

1st of May 1833.

Majority of direc

board.

than the commonwealth, three per centum, payable by six semi-an-
nual reservations of thirty cents out of ten semi-annual dividends
on each share belonging to stockholders other than the common-
wealth, until the whole of the aforesaid sum of three per centum
per share, amounting to fifty one thousand three hundred and six
dollars, shall have been paid: Provided, That the whole of said
three per centum shall be paid within five years after the first day
of May, eighteen hundred and thirty-three.

4. Be it further enacted, That a majority of the directors shall tors to constitute a hereafter be sufficient to constitute a board at the said bank, and at the several offices of discount and deposit, for the ordinary transaction of business, and making of discounts.(c)

Bank and branches allowed to dis

5. Be it further enacted, That the said bank at Richmond, and count bills at four any of its branches, shall hereafter be allowed to discount bills and notes that have not more than four months to run.

months.

President and

cashier prohibited

selling public stocks or funds.

other business.

from voting as proxies.

6. Be it further enacted, That no president or cashier of this from purchasing or bank shall be directly or indirectly concerned in the purchase or sale of any of the public stock or funds, under the penalty of ten thousand dollars, to be forfeited, one half thereof to the use of the Cashier not allow-state, and the other half to the use of the informer: nor shall the ed to carry on any cashier be allowed to carry on any other business than that of the Officers prohibited bank, under the penalty of five thousand dollars: nor shall any president or cashier, or other officer, be authorized to vote as proxy for any stockholder, at any meeting of the stockholders of the said Number of votes bank. In all meetings of the stockholders, the treasurer of the to be given for the state, and by commonwealth, or such other person or persons, as shall be appointwhom, in meetings ed from time to time, to represent the interest of the commonwealth in the said bank, by or under any law which shall be enacted for the purpose, shall upon every question, other than the appointment of directors, have a vote or votes equal to one-third of all the votes given in the meeting upon such question. The appointment of directors shall remain as heretofore. (d)

of the stockhold

ers.

Bills or notes receivable in pay

ments to the state, if redeemable in

gold or silver.

7. Be it further enacted, That the bills or notes of the bank of Virginia, originally made payable, or which shall have become payable on demand, in gold or silver coin, shall be receivable in all payments to the state of Virginia; but, if the said bank shall at any time fail or refuse to redeem its notes in gold or silver coin, its isAt the will of the sues shall be no longer receivable as aforesaid. And the right is hereby reserved to the legislature at any time, to provide by law, that the bills or notes of the said bank shall not be receivable in payments to the state.(e)

legislature.

A moiety of public monies to be

8. Be it enacted, That it shall be the duty of the treasurer, from deposited in bank, the first day of May, eighteen hundred and thirty-three, to deposit one moiety of the public monies in the bank of Virginia, in such manner as is now or may hereafter be prescribed by law; but, if at

When deposit

may be withheld.

see post. ch. 297. Suits against branches, where to be brought, acts 1831-2, ch.
75, p. 68; post. ch. 311.

(c) Altered from 2 Rev. Code 1819, ch. 193, § 8, art. 5th, p. 72.

(d) Ibid. § 8, art. 18th, p. 75, also art. 1st, p. 71.

(e) Ibid. § 10, p. 75.-Notes of the North-western and Valley banks receivable in payment of taxes to the state, acts 1828-9, ch. 1, § 3, p. 5. Mode of paying monies into and out of treasury, ante. ch. 251.

any time the treasurer shall have good cause to suspect that any injury will be sustained by the commonwealth, in making such deposites, he is hereby authorized and empowered, by and with the advice of the executive, to withhold the same until after the next meeting of the general assembly, to whom he shall communicate the facts.(e)

drawn on citizens,

of the board.

9. Be it further enacted, That no bill of exchange, drawn on Bills of exchango any citizen of this commonwealth, resident therein, shall be pur- not to be purchaschased by the bank, nor by any officer of the bank, nor by any vious submission ed, without preother person for the benefit of the bank, unless such bill shall have to, and direction been previously submitted to the consideration of the board of directors, and by the vote of a majority of such board, it shall have been directed that the said bill be purchased for the benefit of the bank nor shall it be lawful for any officer or other person, to deal Nor other bills, in other bills of exchange for the benefit of the bank, or with the received from the funds of the bank, who shall not have been authorized so to do, by board. the vote of a majority of the board of directors; and each and eve- When report of ry person thus authorized, is hereby required to report each pur- to be made. chase or other negotiation, to the board of directors, on the next discount day. (f)

without authority

such negotiation

10. This act shall commence and be in force from and after the Commencement. time when its provisions shall have been approved by the stockholders in the said bank, at a general meeting to be convened therefor, on or before the first day of June next, and such approval shall have been made, and duly certified to the executive of this commonwealth. At such meeting, no stockholder shall vote by proxy, unless such proxy shall be appointed after the passing of this act.

CHAP. 297.-An ACT authorizing the stockholders of the bank of Virginia to
establish an office of discount and deposit in the county of Kanawha.*
(Passed March 19th, 1831.)

Whereas many of the inhabitants of the county of Kanawha Preamble.
have petitioned the general assembly to authorize the establishment
of an office of discount and deposit of the bank of Virginia, in said
county:

authorized to es

posit at Charles

1. Be it therefore enacted, That the stockholders of the bank of Bank of Virginia Virginia be, and they are hereby authorized at any general meeting tablish office of of the said stockholders hereafter to be holden, to establish an of- discount and defice of discount and deposit in the county of Kanawha, upon the town. same footing in all respects with that now established at the town of Danville: Provided, That two weeks notice of such general meet- Notice required. ing for the purpose aforesaid shall have been previously given in the public papers.(a)

2. This act shall commence and be in force from the passing Commencement. thereof.

CHAP. 298.-An ACT for extending the charter of the Farmers' bank of Vir

ginia.t
(Passed March 6th, 1824.)

Whereas the stockholders of the Farmers' bank of Virginia have, at their late general meeting, authorized the presentation of a me

(e) See note (e) p. 370.

(f) 2 Rev. Code 1819, ch. 193, § 8, art. 10th, p. 73.

Acts 1830-31, ch. 48, p. 117.

(a) See ante, ch. 296, § 2. Suits against branch banks where to be brought, acts 1831-2, ch. 75, p. 68; post. ch. 311.

t Acts 1823-4, ch. 8, p. 10.

Preamble.

Charter extended.

How long, and

and liabilities.

morial to the general assembly, praying for an extension of their charter:

1. Be it therefore enacted by the general assembly, That the charter of the said Farmers' bank of Virginia, as granted by the act of assembly, passed February thirteenth, eighteen hundred and twelve, entitled," an act incorporating the Farmers' bank of Virginia," shall be, and the same is hereby extended from the period with what powers of its continuance fixed by the original charter, for the term of fifteen years thence next following; during which period, all the rights, privileges and immunities shall be possessed and enjoyed by the corporation of the Farmers' bank of Virginia, and its respective members, as if the expiration of the said charter had, by the provisions of the original charter, been deferred to the period to which it is, by this act, extended; and the said bank shall be, in all respects, subject to the same liabilities and penalties as are prescribed in relation to the North-western bank, and bank of the Valley, by the twenty-second, twenty-third and twenty-fourth sections of an act, passed the fifth of February, eighteen hundred and seventeen, entitled, an act to establish two new banks within this commonwealth."(a)

Bonus to be paid to the fund for internal improvement.

2. Be it further enacted, That in consideration of the renewal and extension of the charter of the bank, as aforesaid, the said bank shall, on the first day of May, eighteen hundred and twentyfour, or as soon thereafter as application shall be made for the purpose, on behalf of the ex officio members of the board of public works, pay into the fund for internal improvement the sum of fifty Such bonus, how thousand dollars, to be reimbursed to the bank out of the profits of their stock, other than that now held by the commonwealth, or by the board of public works, or by the literary fund.(b)

to be reimbursed

to the bank.

6. Be it further enacted, That, in the month of June, one thousand eight hundred and twenty-seven, the stockholders of the said Farmers' bank of Virginia shall establish, at Danville, in the county of Pittsylvania, an agency or office of discount and deposit, with a capital of fifty thousand dollars, with a power to the stockholders to increase the said capital, at any time, to a sum not exceeding one hundred and fifty thousand dollars; which capital may be provided in such manner and from such resources of the corporation, as the said stockholders shall deem expedient; the said agency or office of discount and deposit to be managed in such manner, and to be subject to such rules and regulations as the stockholders, at their general meeting, shall prescribe.(c)

7. This act shall commence and be in force from and after the time when its provisions shall have been approved by the stockhol

(a) Bank incorporated in 1812, 2 Rev. Code 1819, ch. 196; charter to continue until 1st June, 1827, § 9, p. 84. Remedy against bank for refusing to pay specie, ibid. ch. 201, § 22, 23, 24, pp. 106, 107. The charters of all the banks in the state expire in 1842. Information required of the president of the bank, post. ch. 312.

(b) Sections third, fourth and fifth are omitted in this place, relating to the university, and having been inserted under that title, ante. ch. 34, p. 47. These sections authorize a loan of the bonus received from the bank to the university; bestow upon the university fifty thousand dollars when received from the United States' government, which sum is pledged to repay the loan from the bank; and direct books and apparatus to be purchased for the institution.

(c) Amended, post, ch. 299. Suits against branches where to be brought, acts 1831-2, ch. 75, p. 68; post. ch. 311. Monies of the state how payable into and out of the treasury through the bank, ante. ch. 251.

ders in the said bank, at a general meeting to be convened therefor, on or before the first day of May next, and such approval shall have been made, duly certified to the executive of this commonwealth. At such meeting, no stockholder shall vote by proxy, unless such proxy be appointed after the thirty-first of March next.

CHAP. 299.-An ACT authorizing the stockholders of the Farmers' bank of Virginia to locate an agency or branch of said bank, at the town of Danville, in the county of Pittsylvania.*

(Passed January 27th, 1826.)

Whereas by an act of the general assembly, passed on the sixth Preamble. day of March, one thousand eight hundred and twenty-four, entitled, "an act extending the charter of the Farmers' bank of Virginia," it is provided, that the stockholders of the Farmers' bank of Virginia shall establish an agency or branch of the said bank, on the first day of June, eighteen hundred and twenty-seven, at the town of Danville, in the county of Pittsylvania; but the inhabitants of the said town and its vicinity, having applied to the said stockholders to accelerate the period for the establishment of said agency or branch, and the stockholders of the said bank having considered the subject in general meeting, were unanimously of opinion that the interest of the institution would be promoted thereby :

blished.

1. Be it enacted by the general assembly, That the said stock- Branch at Danville holders may establish the said agency or branch at any time they when to be estamay deem expedient, on or before the said first day of June, in the year of our Lord one thousand eight hundred and twenty-seven. (a)

upon same footing

2. And be it further enacted, That all notes or bills negotiable Notes and bills at at the said agency or branch, shall be, and they are hereby placed the branch bank upon the same footing as notes or bills negotiable at the said Far- with those of the mers' bank, or either of its offices of discount and deposit.(b)

mother bank.

3. This act shall be in force from and after the passing thereof. Commencement.

CHAP. 300.-An ACT concerning the Farmers' bank of Virginia.t

(Passed February 24th, 1832.)

tors to constitute

1. Be it enacted by the general assembly, That a majority of the Number of direcdirectors of the Farmers' bank of Virginia shall hereafter be suffi- board. cient to constitute a board at the said bank, and at the several offices of discount and deposit, for the ordinary transaction of business and making of discounts.

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

CHAP. 301.-An ACT to authorize the appointment of three directors for the bank of the Valley in Virginia.‡

[Passed December 29th, 1820.]

Commencement.

Whereas the three directors for the bank of the Valley in Vir- Preamble. ginia, which were directed to be appointed by the act, entitled, "an

Acts 1825-6, ch. 13, p. 12.

(a) See ante. ch. 298, § 3.

(b) 2 Rev. Code 1819, ch. 196, § 14, art. 13th, p. 90.

Acts 1831-2, ch. 77, p. 69. Altered from 2 Rev. Code 1819, ch. 196, § 14, art. 5th, p. 88.

Acts 1820-21, ch. 7, p. 10. See 2 Rev. Code 1819, ch. 204, 206, pp. 109, 110. Amended, post. ch. 310, authorizing the governor and any two or more of the council to make the appointment. Executive to appoint directors for commonwealth within twenty days after the annual meeting of the stockholders; post. ch. 303, § 2. Acts 1828-9, ch. 25, p. 27; see also § 3, 4.