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manded, and any arrearages of assessments that he
may then owe to the company, when the said proper
officer shall cancel such insurance or insurances as may
be in the name of the person so withdrawing, and make
a record thereof in the books of the company, which
shall release such member and any real estate that he
may have insured from all liability for or on account of
any notes, due bills, or other evidences of debt to the
said company, held by it for premiums on such real
estate, the insurance on which shall thus be cancelled,
and shall debar him or her from any claim on this cor-
poration for any loss or damage by fire subsequent to
the time of such withdrawal and cancelling such insur-
ance.
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CHAP. 137.
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SEC. 4. And be it enacted, That all promissory notes
of hand, or other evidences of debt, held by the said
company, which shall have been given thereto for pre-
miums for insurance, or any part or parts of said pre-
miums, shall constitute and be deemed a lien on any real
estate which may be insured in consideration or part
consideration of such notes or evidences of debt, which
real estate shall be held liable for the full and just, pay-
ment of such notes or evidences of debt, either wholly
or in part, at such time or times as the president and
directors shall demand, and of all legal charges that
may he incurred in enforcing payment thereof, in case
of refusal or neglect to pay by the drawers of such
notes or evidences of debt, any sale, mortgage or trans-
fer of such real estate subsequent to the date of such notes
or evidences of debt, and during the time they are in
existence, shall not invalidate or prejudice the lien cre-
ated thereon by the making and delivery of such notes
or evidences of debt, and such real estate shall only be
released from such liability or lien thereon on the full
payment of such notes or evidences of debt, or such
part thereof as may be demanded by the president and
directors of the company, and the cancelling of the in-
surance or insurances for which they were given as pre-
miums, under such regulations as the said president and
directors may establish, and in case of refusal or ne-
glect to pay such notes or evidences of debt, either
wholly or in part, whenever and as often as may be de-
manded by the president, and directors of the company,
the said president and directors may proceed to collect
the same or any part thereof, in the same manner as in
the foreclosure of a mortgage on real estate, the said
notes or evidences of debt to be held and deemed as a
mortgage on such real estate.
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Promissory
notes given
for premiums
for insurance,
to be deemed
a lien on real
estate.
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SEC. 5. And be it enacted, That John S. Sellman
George W. Hughes, John Iglehart, Richard S. Stewart,
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First board
of directors—
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