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vided, that nothing in this section shall be con-
strued to prevent the owners of stock insured in
said Company from disposing of the same, in
which case all amounts due and owing thereon
may be collected by legal process from any other
property owned and possessed by the party or
parties.
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Directors.
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Sec. 5. And be it enacted, That the incorpo-
rators named in the first section of this Act, or a
majority of them, be and they are hereby author-
ized to act as Directors of said Company until the
same shall be regularly organized, by the election
of a President and Directors, in accordance with
the by-laws, and to elect one of their number as
President, to elect a Secretary, and as soon there-
after as practicable adopt a form of Constitution
And by-laws ; to provide the necessary books and
otherwise prepare the Company for the transaction
of business, and exercise a general supervision of
the affairs of the Company ; and the Board of Di-
rectors as above formed, and any other Board of
Directors thereafter elected, as hereinafter pro-
Tided for, shall have power and authority to
allow such salaries, fees or compensation to any
officer or employee as they may deem proper,
and to remove them at pleasure, or in such man-
ner as the Constitution or by-laws may provide ;
also, to fill any vacancy or vacancies until the
time of holding the next regular election.
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Advertise.
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Sec. 6. And be it enacted, That it shall be the
duty of the President and Secretary to give at
least two weeks' notice, by advertisement in not
less than two of the county papers, of each election
of President and Directors, and at all such elec-
tions each member of the Company shall have
one vote.
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Constitution
and by-laws.
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Sec. 7. And be it enacted, That the Constitu-
tion and by-laws of the said Company shall only
be made with the concurrence of at least two-
thirds of the Board of Directors present, and any
amendment or alteration of the same shall require
the concurrence of two-thirds of the stockholders
present at a meeting convened in pursuance of
public notice given as hereinbefore provided for.
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