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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 2791   View pdf image (33K)
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THOMAS SWANN, ESQUIRE, GOVERNOR. 453

Provided, however, that nothing in this Act shall
be construed to grant banking privileges on the
said company, or the right to issue any note of the
nature of a bank note.

Banking pro-
hibited.

Sec. 2. And be it enacted, That it shall be the
duty of the secretary of said company, to keep a
book containing a copy of this Act, and of such
Constitution and By-Laws of the said company as
may be established, and that all persons who rnay
wish to become members of the said company shall
be required to express in writing at the foot thereto,
which expression of assent and the paymentof such
fees, charges or premiums, as may be demanded

By-laws.

by the proper officers of the corporation, shall con-
stitute such persons members of the said company,
and as such shall be bound by all the rules and
regulations of said company, as contained in this
Act and in the Constitution and By-Laws of the
said company, and every person or persons, or
corporation which shall be insured by this compa-
ny shall become members thereof, as already pro-
vided for.

Premiums.

Sec. 3. And be it enacted, That any member of
the said company shall have full power to with-
draw therefrom at any time, by applying to the
proper officer thereof and paying such fees as may
be reasonably demanded and any arrearages of
assessments that he may then owe to the company,
when the said proper officer shall cancel such in-
surance or insurances, as may be in the name of
the person so withdrawing, and make a record
thereof in the books of the company, which shall
release such member and any real estate that he
may have insured from all liability, for, or on ac-
count of any notes, due-bills, or other evidences of
debt to the said company, held by it for premiums
on such real estate, the insurance on which shall
thus be cancelled, and shall debar him or her from
any claims on this corporation for any loss or
damage by fire subsequent to the time of such
withdrawal and cancelling such insurance.

Withdraw.

Sec. 4. And be it enacted, That all promissory
notes, notes of hand, or other evidences of debt
held by the said company which shall have been
given thereto for premiums for insurance, or for
any part or parts of said premiums, shall consti-

Votes.



 

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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 2791   View pdf image (33K)
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