PHILIP F. THOMAS, GOVERNOR.

1847.

ment shall be a hen upon his, her or their real estate
and for said service the clerk shall receive the sum of
ten cents to be paid by the insured, and no policy shall
be issued until such judgment be entered up.

CHAP. 212.

SEC. 7. And be it enacted, That in case the party
insured shall fail to pay his, her or their interest in ad-
vance, sixty days after the same shall be due, or shall
fail to pay any assessment which may be made upon his
premium note as hereinafter provided, if shall be lawful
for the said company to issue an execution against the

real estate bound by such judgment, for the amount of
such interest or assessment, which amount shall be en-
dorsed by the clerk under the order of the president of
secretary upon the back of said execution, and the party
insured, until such interest or assessment be paid, shall
forfeit all benefit under his, her or their policy.

Penalty for

neglect.

SEC.8. And be it enacted, That no policy upon
houses, manufactories, mills, stores, shops, barns and
other buildings shall be issued for a term less than seven
years nor to a greater amount than two-thirds of the
value thereof, and no policy shall be issued upon mer-
chandize, household, furniture or other personal proper-
ty for a term less than one year nor to a greater amount
that two-thirds of the value thereof, and in cases of in-
surance of personal property, when the party insured
has no real estate, the directors may take a note for the
amount of the premium required, secured in such man-
ner as they may deem most expedient and safe.

Terms of in-
surance, &c.

SEC. 9. And be it enacted, That in case any loss or
damage by fire shall be sustained, the party sustaining
such loss shall, within thirty days thereafter, apprize
the company thereof, and the directors of said company
shall immediately after the notification thereof ascertain

the amount of such loss and apportion the same rateably
between the parties recently insuring, by an assessment
Upon their notes and upon the interest fund, such propor-
tion of losses as may have been previously incurred, and
in case the damage by fire shall exceed the amount of in-
terest paid in and the equitable proportion of assess-
ment upon the premium notes of the parties last insur-
ing, then the loss shall be supplied by a rateable assess-
ment upon all the premium notes and cash advanced by-
way of premium, and in case the whole capital shall be
required to meet losses the same shall be forthwith col-
lected and distributed rateably among the insured, ac-
cording to the amount of loss by him, her or them sustain-

ed, and covered by his, her or their policy.

Losses—how

repaired.