58

CORPORATIONS. [ART. 26.
which said corporation was formed; and shall also

Power to lay
pipes, &c.

have power to lay pipes and construct all such other
works in said town or city as shall be necessary or
suitable to, carry out the purposes of said corporation ;

Proviso.

provided, the assent of the municipal authorities of the
said town or city be first obtained, and all such works,
and the exercise of the powers hereby granted, shall at
all times be subject to such reasonable regulations as said
municipal authorities may from time to time prescribe.

Power to con-
demn property.

95. If any corporation formed for the purposes men-
tioned in the next preceding section, cannot agree with
the owner or owners of any land or water rights, which
such corporation may have power to acquire for the
purpose of laying pipes or constructing its works, or if
such owner or owners, or any of them be a feme covert,
without power to contract in relation to said property,
or under age, or non compos mentis, or under any other
legal disability, or be absent from the county or city in
which the said property may lie, when the said land or
water rights may be needed, the corporation may pro-
ceed to condemn and acquire the same in the manner ,
provided for in sections one hundred and seventy, one
hundred and seventy-one, one hundred and seventy-
two, one hundred and seventy-three, one hundred and
seventy-four, one hundred and seventy-five of this
article.

INSURANCE COMPANIES.

Capital stock.

96. The capital stock of any insurance company in-
corporated under this article shall not exceed the sum
of two millions of dollars, and except in the .case of
mutual insurance companies, shall not be less than one
hundred thousand dollars; and at least one-fifth of the

To be paid in.

whole capital stock shall be paid in before the said
company shall be competent to transact the business
for which it shall have been incorporated.

Incorporation
certificate or
insurance com-
panies, other
than life.

97. Any corporation incorporated under this article
for insurance purposes, except for the insurance of the
lives of persons, is hereby authorized to include in its