following sections, numbered eight, twelve, thir-
teen, fourteen, fifteen, sixteen, seventeen and eigh-
teen, be enacted in lieu thereof.

Each share
holder entitled
to one vote.

Sec. 8. That each shareholder at the elections
for Directors shall be entitled to one vote, in per-
son or by written proxy, for each and every share
of the said Guarantee Capital Stock standing in
his name on the books of the Company, and any
person insured for life, paying a premium of at
least seventy-five dollars per annum, or a sum in
instalments equal thereto, and any person entitled
to an annuity of not less than seventy-five dollars
per annum shall be entitled to one vote in person.

Capital may
he increased
and invested.

Sec. 12. That the capital of the Company may
be increased indefinitely by the accumulation of
profits, and be invested over and above the said one
hundred thousand dollars, in real and personal
property, in the manner and at the time deter-
mined upon by the said Board of Directors.

Annual divi-
dend

Sec. 13. That the holders of the said guarantee
capital shall be entitled loan annual dividend not
exceeding seven per centum, the first payment
thereof to be made at the expiration of one year
from the date of the issue of the first policy of the
Company.

Board of Di-
rectors requir-
ed to ascertain
nett profits.

Sec. 14. That the Board of Directors shall eve-
ry three years or oftener, in their discretion, after
having reserved a sum sufficient to pay the said
dividend, and after having made an adequate pro-
vision for outstanding policies, and the payment
of the current expenses and losses of the Compa-
ny, ascertain the nett profits of the business of the
Company, and pay one-eighth of the same to the
holders of the said guarantee capital, and equitably
credit the holders of the several classes participa-
ting policies with the remaining seven-eighths,
and determine the time and manner of paying the
same.

Claim to be
forfeited.

Sec. 15. That any person insuring in the Com-
pany, who shall omit any premium or any period-
ical payment due from him to the Company, shall
thereby forfeit to the Company all claims under
his policy, and all previous payments made by
him, unless there be expressed in his policy a non-
forfeiture of the same.