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May maintain
a guarantee
capital.
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SEC. 7. And be it enacted, That the board of
Directors may form and maintain a guarantee
capital not exceeding one hundred thousand dol-
lars, in approved securities to be held by the Com-
pany, whenever the said directors shall consider it
accessary and advantageous to its interest, and
may allow therefor a sum not exceeding six per
cent per annum, and may use, negotiate and
assess the same only for the purpose of paying
the just debts of the Company, and if it shall
become necessary at any time to negotiate or as-
sess said securities, or to call for or collect any
part thereof, the sum so received shall be repaid
out of the first surplus receipts of said company,
with lawful interest.
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May issue po-
licies and grant
annuities.
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SEC. 8. And be it enacted, That this company
may issue policies of insurance, and grant an-
nuities and endowments in all the various forms
of life risks, and also to issue policies, and take
all risks on dwellings, houses, furniture and house-
hold goods in general, and upon stores and mer-
chandise, or ships in port, for loss or damage by
fire, then all such policies shall be signed by the
President and Vice President, and countersigned
by the Secretary thereof, and the same shall bind
the said Company upon delivery, and upon pay-
ment of the premium chargeable thereon, to the
satisfaction of the directors, and according with
the rules and regulations; and upon the death of
any person upon whose life this Company shall
have issued a policy of insurance, the sum in-
sured shall become due and payable in ninety days
from the time the same shall be provided and es-
tablished according to the terms of said policy, and
the said Company may cause themselves to be in-
sured against the hazard of any risk assumed by
them, and upon the loss of property by fire, or
damage by fire, upon which this Company shall
have issued a policy of insurance, it shall become
due and payable in thirty days from the time the
same shall proved and established according to
the terms of said policy, and satisfaction of the
board of directors.
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May issue poli-
cies for the
benefit of mar-
ried women and
minors.
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SEC. 9. And be it enacted, That the Company
may issue policies of insurance upon the life of
any person, expressed to be for the benefit of any
married woman, minor or minors, and the same
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