THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1845.

sured, the said assignee shall execute to the said corpo-
ration, a similar note for a like sura of money, and sub-
ject to all the incidents of the original note.

CHAP. 249.

SEC. 7. And be it enacted, That all policies or con-
tracts of insurance executed by this corporation, shall be

subject to adjustment whenever either the managers or
the owners of the property insured may request it; and
all such policies or contracts of insurance when once du-
ly executed, shall, so long as the properly insured or the
character of the risk remains unchanged, and no adjust-
ment is required by either the managers or the owners,
of the property, remain and be in full force and virtue in

All polices,
&c. subject to
adjustment.

law as a policy of insurance; provided, the annual pay-

ment of interest on the deposite notes of the parties insur-
ed are regularly made on the day the same shall be re-
quired to be made, and every such payment of interest
shall be noted by the secretary on the said policies re-
spectively.

Proviso.

SEC. 8. And be it enacted, That every member of this
corporation who shall sustain loss or damage by fire,

shall give notice thereof to the secretary of the corpora-
tion at its office, within thirty days from the date of such
loss, to the end that the may enquire into the same, and
the said president and managers shall direct the proper
appraisers to view the promises and determine the loss
actually sustained, and make report within ten days
alter notice of such loss; and in cases, where persons
sustaining loss by fire, shall be dissatisfied with the esti-
mate of his loss by the appraisers, on his request made
in writing, the subject may he submitted to three disin-
terested persons, one chosen by the managers, one by
the person insured who has sustained loss, and the third
one, by the two referees thus chosen; and the report of
the three persons thus chosen, or of any two of them, shall
be conclusive.

Sustain loss by
fire, to give no-
ice in 30 days.

SEC. 9. And be it enacted, That upon the reception
of the report of the appraisers or referees, the managers
shall proceed, in case there shall not be a sufficient sum
of money in the treasury to pay the same, to levy such
pro rata tax as shall, together with the sum on hand, be
equal to the adjudged damages, and the costs of collec-
tion; they may publish the same in such manner as they
may deem proper; they may employ a collector if ne-
cessary, to collect the money and pay it over to the trea-
surer within thirty days, and the president shall give to
the person or persons insured who may have sustained
loss, and whose loss shall have been duly ascertained,

Levy pro rata

tax.