THOMAS SWANN, ESQUIRE, GOVERNOR.

169

of the said company as hereinafter provided; the
said Board of Directors shall first set apart out of
such net profits at least thirty per centum of the
said net profits over and above the said sum of
twenty thousand dollars, to constitute, with said
sum of twenty twenty thousand dollars, as a per-
manent fund to be held as part of the capital of
said company until the said permanent fund shall
amount to the sum of thirty-five thousand dollars,
after which the said Board of Directors may an-
nually thereafter divide the whole of the net profits
of said company, accruing in each and every year
thereafter amongst its members ratably in pro-
portion to their repetitive amounts of premises, and
credits; and, provided, further, that no member of
said company shall be entitled to any dividend of
the said net profits whose property has been insured
for less than seven years. "

Sec. 2. And be it enacted, That the next section
amendatory act, shall be amended as follows: strike
out the words " for a term of less than one year, "
in the fourth and fifth lines of the said section,
and insert in lieu thereof the words, "for a term
of one year or less. "

Amended,

Sec. 3. And be it enacted, That the said original
act, incorporating the said Mutual Insurance Com-
pany, and the said act amendatory thereto, as
amended by this act, shall continue in force until
the twenty-second day of January, in the year of
our Lord eighteen hundred and eighty-six, and
until the end of the session of the General Assem-
bly, which shall he holden next thereafter.

To continue
in force.

Sec. 4. And be it enacted, That this act, shall be
submitted to the members of the said Mutual In-
surance Company at a general meeting of the said
company in the year eighteen hundred and sixty-
six for adoption or rejection, and if adopted by a
majority of votes, cast according to the ratio of vot-
ing, presented by the by-laws of said company, it
shall take effect from and after said day.

To take ef-
fect.