Dividends.

Sec. 2. And be it enacted, That the said company
shall be and they are hereby empowerd to insure
all and every species of property for such period as
they shall see fit, and they are hereby authorized
to make dividends of the net profits of said com-
pany among the policyholders therein, either in
the form of a reduction of the amount of annual
interest, to be paid by such policyholders, or in
the amount of his premium, note or judgment or
cash advanced as premium or in cash to them as
the said President and Directors may from time to

Provisos.

time think advisable and proper; provided) how-
ever, that no dividend in cash shall be declared or
paid until the funds invested by said company
shall amount to the sum of twenty-five thousand
dollars; and provided further, that no dividends in
cash shall be made, except of the profits exceeding
said sum of twenty-five thousand dollars; and
provided, that no deduction in the amount of pre-
mium, notes secured and judgments shall be made
whereby said amount shall be reduced below the
sum of twenty-five thousand dollars.

Renewal of
policies.

Sec. 3. And be it enacted. That the said company
shall be required to renew from year to year all
policies that have been in existence for a period of
two years upon the payment from time to time in
advance of the annual interst or premium upon

Proviso.

the judgment or note, as the case may be; pro-
vided, however, if the Board of Directors should
consider the risk greater or more hazardous from
any cause they may increase the premium and re-
quire a new note or a new judgment to be con-
fessed for the requisite amount.

Premiums.

Sec. 4. And be it enacted. That the said com-
pany shall have power to insure and issue policies
of insurance for such premium, to be paid in cash,
as the company and the insured may agree, in
which case the party insured shall not be required
to confess judgment or give a premium note, nor
be entitled to any of the benefits or profits of the
company as the policy holders who have given pre-
mium notes or confessed judgment.

Repeal.

Sec. 5. And be it enacted, That all parts of the
original Act audits supplements inconsistent with
the provisions of this Act be and the same are
hereby repealed.