ART. 23] INSURANCE COMPANIES. 211

in case the assessments provided for should yield a sufficient amount to
pay the same, and if any certain number of assessments be specified
upon said policies as payable by the holders thereof, the company shall
not be entitled to levy any further assessments, even though such rights
may have been previously reserved in the policy.
See section 29, et seq.

1914, ch. 707.

159A. Any two corporations, one of which is created and existing
under the lawsi of this State, and one of which is created and existing
under the laws of any other State or Territory of the United States, and
each of which is organized for the purpose of undertaking the following
classes of insurance: (1) Accident and health insurance; (2) insurance
against loss or damage by reason of injuries to employes, or other per-
sons, for which the insured is liable, and loss or damage to property
caused by horses or vehicles for which the insured is liable; (3) fidelity
and surety insurance and bonding; (4) burglary and theft insurance;
(5) plate glass insurance; (6) steam boiler, fly-wheel and machinery
insurance, including the liability of the insured for damage to persons
or property of others; (7) loss or damage to automobiles (except by
fire or when being transported in any conveyance by land or water) and
legal liability for damage to property caused thereby; (8) sprinkler
leakage insurance; or any two or more of said classes of insurance may
merge or consolidate such corporations into one corporation in the name
of one or more of the corporations. The corporations may enter into
and make an agreement for such merger or consolidation under their
respective corporate seals, prescribing its terms and conditions, the
amount of its capital, which shall not exceed in amount the aggregate
amount of capital of the merged or consolidated corporations, and the
number of shares into which it is to be divided. Such agreement must
be assented to by a vote of the majority of the number of directors of
each corporation prescribed in its charter, and must be approved by
the votes of stockholders owning at least two-thirds of the stock of each
corporation represented to vote upon in person or by proxy at a meeting
called specially for that purpose upon a notice stating the time, place
and object of the meeting served at least thirty days previously upon
each personally or mailed to him at his last known postoffice address, and
also published at least-once a week for four weeks successively in some
newspaper printed in the city, town or county where such corporation
has its principal office, and there shall be endorsed upon the agreement
the certificate of the secretaries of the respective corporations under the
seals thereof to the effect that the same has been assented to by such
votes of directors and approved by such votes of the stockholders.

The agreement shall contain a copy of the charter under which the
business is to be conducted, which shall conform to the provisions of
either one or more of the charters of the merging or consolidating cor-
porations, and the continuance of said charter shall be for the time