HENRY LLOYD, ESQUIRE, GOVERNOR

to do business under the provisions of this
act, and from and after the date of the filing
of the said resolution with the Clerk of said

127

Court all the policies and renewals of policies
issued by the said company shall have printed
thereon by said company a notice that the
same are issued under and in pursuance of
this act, referring to the same by its chapter,
date and title, and such policies and renewals
shall be deemed to have been issued and re-
ceived subject to the provisions of this act.

SEC. 3. And be it enacted, That for the pur-
pose of creating and establishing such special
reserve fund, the Board of Directors of said
company shall set aside, out of its accumulated
earnings, a sum of money not less than five
thousand dollars, which sum shall be in-
vested in some safe investments, approved by
a majority of the Board of Directors, and such

Notice.

fund shall be deemed a fund set apart by the
mutual policy holders of said company to
protect said company and its policy holders
in case of such extraordinary conflagration or
conflagrations, whereby the claims upon said
company shall exceed the amount of the ac-
cumulated earnings of said company, and of
the premium notes held by said company
liable to assessment, and said fund shall not
be regarded as any part or portion of the
assets of said company, so as to be or render
the same liable for any claims for loss by fire
or otherwise, except as herein provided.

SEC. 4. And be it enacted, That said com-
pany shall have the right to use and appropri-
ate the interest or dividends accruing upon

Reserve fund.

said sum of five thousand dollars for the
general purposes of said company, and shall
have the right to change the said investments
by substituting for those withdrawn others of
equal amount and value upon the assent of a
majority of the Board of Directors of said
company.

Interest, &c.