forms of life risks and to make insurance against
all the casualties to which life or body may be ex-
posed by travelling on railroads, steamboats or
other conveyance, or by any pursuit or occupation
or against any accident resulting in death or disa-
bility, and may issue such insurance on the life of
any person for the benefit of married women or
minors named therein, to insure to their sole use
and not be liable for the debts of the assured where
the annual premium, if paid by the assured, shall
not exceed fifty dollars, and to invest, draw in and
reinvest the funds of the corporation in any form
of loan or security it may deem proper from time
to time, and make dividends of profits from time
time, and generally dispose of the capital and pro-
perty of the company as it shall deem advanta-
geous, and make all contracts, and do all acts ne-
cessary or advantageous for the purpose of its
business and determine and fix the rate of pre-
mium on all insurances effected by this company
and the manner of paying therein and, may re-is-sue
any risk it has taken.

Sec. 4. And be it enacted. That the affairs of the
company shall be managed by a president and six
directors to be elected from among the stockhold-
ers on the first Monday in July after the organiza-
tion of the company, and the first Monday in July
in each succeeding year, or within ninety days
thereafter should the election not be held on the
first Monday in July in any year, and at said
election each stockholder shall have one vote for
each share of stock held, and may vote in person
or by proxy, and the president and directors elect-
ed shall serve one years thereafter, and until their
sucessors are appointed.

Election of
officers.

Sec. 5. And be it enacted. That the president
and directors shall have power to appoint and em-
ploy all officers and agents and others they may
deem necessary to transact the business of the
corporation, and fix and pay their compensation,
ana dismiss them at pleasure, and take bond with
security for the faithful performance of their du-
ties, and prescribe the mode of conducting elec-
tions, and the mode and manner of transferring
stock, and make all needful by-laws and rules for
the company, and generally shall have full power
59

Duty of offi-
cers-