PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

til persons holding property to the amount of twenty
thousand dollars of insurable property, shall become
members of this company, and such company are
hereby vested with all powers requisite and proper to
carry this act into effect; provided, the same be not
inconsistent with the constitution and laws of this
State, and in case any vacancies shall occur in the
board of directors, from death, resignation, or any
other cause, the board of directors shall supply such
vacancy or vacancies, until the next annual election.

CHAP. 356.

SEC. 5. And be it enacted, That any person or per-
sons, or any body corporate, may become members of
this institution, by insuring his, her or their property
with the company, and by paying in advance, in cash,
or by executing his note, at his, her or their option,
which note shall be secured in the manner hereinafter
prescribed, for such premium as may be required by
the board of directors, not less than seven per cent on
the amount insured, according to the greater or less
hazzard of insurance, the note to be made to the Mu-
tual Insurance Company of Weverton, and to bear
interest from date, the interest thereof to be paid an-
nually, in advance, at the rate of six per cent per an-
num.

Membership.

SEC. 6. And be it enacted, That the clerk of the
county wherein the property insured may be situated,

shall be furnished with a docket by the Mutual In-
surance Company, in which docket shall be entered
a judgment by the person or persons, or body corpo-
rate, to the Mutual Insurance Company, of Weverton,
for the amount of his or their premium note, without
a declaration being filed, appearance for the plaintiff
being entered, or writ issued against the party insur-
ing, which said party insuring shall either appear in
person, or shall direct the clerk by an instrument in
writing, signed by said party, and attested by one wit-
ness, to enter up judgment for the amount of his pre-
mium note, which judgment shall he a lien upon his,
her or their real estate, and for such service, the clerk
shall receive the sum of ten cents, to be paid by the
insured, and no policy shall be issued until such judg-
ments be entered up.

Judgments to
be entered.

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

Execution may
issue.