1931_private laws_48_3
CHAPTER 47 AN ACT TO ALLOW THE GOVERNING BODY OF THE TOWN OF WEAVERVILLE IN THE COUNTY OF BUN- COMBE TO AID IN RE-OPENING THE FARMERS AND TRADERS BANK OF WEAVERVILLE. The General Assembly of North Carolina do enact:
That the Governing Body of the Town of Weaverville shall retain the collateral and/or any guaranty it now holds securing its deposit in said Bank at the time said Bank suspended; provided, however, that as such collateral is collected by the said Governing Body of the Town of Weaverville, the amount so collected shall be credited against the deposit for which the collateral was given as security; provided, further, that nothing in this act shall relieve said Bank, or any guarantors, upon any bond or contract heretofore executed to guarantee the deposits heretofore placed in said Bank, nor shall it relieve said Bank from its duty to allow withdrawal of deposits in accordance with the terms and conditions of any contract which may be entered into pursuant to the provisions of this act.