THEODORE R. MCKELDIN, GOVERNOR 171

panies, " sub-title "General Regulations, " be and it is hereby
repealed and re-enacted, with amendments, to read as follows:

71. (a) A bank or trust company may purchase, hold and
convey real estate for the following purposes only:

(b) First. Such as shall be necessary for the convenient
transaction of its business, including, with its banking offices,
other apartments in the same building, or on adjoining land,
to rent as a source of income, and a plot whereon parking
accommodations are, or are to be, provided, with or without
charge, primarily for its customers; provided, however, that
not more than fifty (50%) per cent of its unimpaired capital
and surplus may be invested in its banking building, offices,
furniture and fixtures by any bank or trust company; but in
any institutions wherein the aforesaid limitation has been
reached, the Bank Commissioner may authorize such ordinary
repairs, replacements to furniture and fixtures, and other
structural improvements, as in his opinion are necessary for
the proper continuance of its banking business, under such
conditions as the Bank Commissioner may prescribe.

(c) Second. Such as shall be conveyed to it in satisfaction
of debts previously contracted in the course of its business.

(d) Third. Such as it shall purchase at sale on judgments,
decrees or mortgage foreclosures under securities held by it,
but a bank shall not bid at such a sale a larger amount than
is necessary to satisfy its debts and costs.

(e) Fourth. No real estate acquired in the cases contem-
plated in sub-sections (c) and (d) of this section [the second
and third sub-divisions preceding] shall be held for a longer
time than eight years, provided, however, the Bank Commis-
sioner may extend such period of time for an additional period
of two years under such conditions as he may deem it ex-
pedient to prescribe. At the expiration of the full ten year
period, such real estate must be sold at public or private sale
within one year thereafter, unless the value of said parcel or
parcels of real estate shall have been charged down on the
books of such institution to an amount which shall be agree-
able to the Bank Commissioner. Nothing in this section shall
be construed as preventing a bank or trust company from
loaning moneys upon real estate security as provided by law.
Nothing in this section shall affect the title to or holding by
any bank or trust company of any real or leasehold estate
now owned by said bank or trust company, and nothing here-
in shall affect the rights of banks or trust companies to pur-
chase and hold land or real or leasehold estate as trustee or
in other fiduciary capacity.