THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1845.

corporation may also be held, whenever called by the
managers, or whenever requested by twenty members,
of which the managers shall give at least ten days notice,
by advertisement as above mentioned.

CHAP. 249.

SEC. 4. And be it enacted, That the board of mana-
gers shall have full power, on behalf of the said corpo-
ration, to make insurances against loss or da mage by fire,
on any house, tenement, manufactory, shop, or other
buildings, and on goods, wares, merchandise, furniture,
and effects therein; and on hay, grain, and other agri-
cultural products in barns, or stacks, or otherwise; and
generally, or all kinds of goods, wares and merchandise;
on land of such kind or description, and within such
limits as may be permitted in the by-laws of said corpo-

Managers to
make insuran-
ces against loss
&c.

ration, and to make, execute and perfect all contracts,
bargains, agreements, policies, and other instruments of
writing as shall or may be necessary, or as the nature of
the case shall or may require; and every such bargain,
agreement, contract, or policy to be made by said cor-

poration, shall be in writing or in print, and shall be
under the seal of the said corporation, signed by the pre-
sident, and attested and signed by the secretary, and also

Make con-
contracts, &c.

by the party insured; provided, that it shall not be law-
ful for the said corporation, to take any single risk which
shall exceed the sum of one and a half per centum, on
the total amount on the hooks of said corporation.

Proviso.

SEC. 5. And be it enacted, That any person or persons,
applying for admission and holding property within the
boundary of this corporation, of this description as may
be insured therein, may enter such property on the books
of the corporation, with a valuation thereon affixed, agree-
ably to the by-laws in that behalf made and provided;
and when any property so entered, shall be destroyed or
damaged by tire, such valuation shall be, made the basis
of a tax to remunerate the loss, and all such persons as
are now associated together, or who may hereafter asso-
ciate themselves as members of the company or corpo-
ration, intended to be created by this act, and all such
persons as shall at any time hereafter, insure in or with
said company, or be allowed so to do, shall be deemed
and taken as members thereof, during the period they
shall remain so insured, and no longer.

Applying for
admission and
holding pro-
perty, &c.

SEC. 6. And be it enacted, That any person or persons
entering property for insurance by this corporation, shall
deposite with the secretary, his, her, or their promissory
note, payable in part or in whole, at any time when the
managers shall deem the same requisite for Hie payment

Entering pro-
perty for insu-
rance, depo-
site promisso-
ry note.