THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1845.

person so withdrawing, in the event of no loss being
sustained by the company shall be entitled to one half of
the interest paid by him, her or them, and also to one
half of the interest on the cash advanced as premium
by him, her or them.

CHAP. 37.

SEC. 14. And be it enacted, That at the expiration of
seven years from the date of the first policy, and every seven
years thereafter, a dividend of the nett profits of the com-
pany shall be declared and distributed among the members
in proportion to the amount and duration of their policies;

After seven
years dividend
to be declared.

provided, no dividend shall be declared until the nett
profits exceed twenty five thousand dollars, and the first
dividend only to be made of the profits exceeding that
sum, and in case the nett profits exceed the sum of
twenty-five thousand dollars, the person holding a policy,
or his executors, administrators or assigns may renew
the same for seven years thereafter, by executing his
note or confessing a judgment as aforesaid for one half of
the original premium, and every seven years thereafter,
shall be entitled to a similar reduction, until the whole
premium shall be extinguished, at winch period his, her,
or their property shall be insured without premium, in-
terest or expense, as long as this charter shall endure,
provided always, that before any such reduction of premi-
um or interest thereon shall be made at every septennial
distribution of profits after the first distribution, the sum of
ten thousand dollars of the nett profits shall be added to
the first sum of twenty-five thousand dollars to constitute
an active capital to meet losses.

Provisoes.

SEC. 15. And be it enacted, That all investments of
interest money or cash paid in advance as premium, shall
be made in such manner as the board of directors may
direct.

Investments
to be made a*
board directs.

SEC. 16. And be it enacted, That on the last Monday
in April, eighteen hundred and forty-seven, and annually
thereafter, the directors shall publish in one or more
newspapers published in Washington county; a state-
ment showing the amount of premium notes, judgments
and cash advanced, amount of losses incurred, expenses
and nett profits.

Yearly state-
ment to be
published.

SEC. 17. And be it enacted, That no member of this
company shall be answerable for any losses which may
he sustained beyond the amount of his premium note, or
judgment, or cash advanced by way of premium.

Answerable to
amount inves-
ted.

SEC. 18. And be it enacted, That insults by or against
said company, no member of the corporation shall on that
account, if he be not a party to such suit or suits in his
individual capacity, be incompetent as a witness.

Incompetent
as witness.