THOMAS H. HICKS, ESQUIRE, GOVERNOR.

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surance of personal property, when the party in-
sured has no real estate, the directors may take
a note for the amount of the premium required,
secured in such manner as they shall deem most
expedient and safe.

SEC. 8. And be it enacted, That whenever a
loss shall occur which the said company are liable
to pay, it shall be the duty of the directors at
their next meeting after they shall have been no-
tified of said loss, to cause an accurate estimate
and statement to be made of the proportion or
sum to be contributed by each member to make
good said loss to the persons having sustained
said loss, and to notify the members of the said
corporation, of the same, and if at the expiration of
sixty days from the date of such notice any mem-
ber of said corporation shall have failed to pay
his, her or their contributions aforesaid, it shall
be lawful for the clerks of the Circuit Courts for
Somerset and Worcester counties, or for the
clerk of any other county in which such default-
ing member or members shall reside, upon the
filing of such statement in their respective offices,
to issue execution for the said proportion in the
same manner as if judgment had been rendered
for the same, together with all costs incident to
such proceeding.

Duty of Di-
rectors.

SEC. 9. And be it enacted, That the said com-
pany shall have and is hereby invested with
full power and authority to make any by-law or
by-laws whereby any member of the said company
failing to pay the interest on his, her or their
premium note or notes according to the constitu-
tion and by-laws of the said company, may be
excluded from all benefit of insurance, and at the
same time be held liable to contribution in case of
loss by others during all the time he, she or
they may be so in default, any law or statute of
this State to the contrary notwithstanding.

Liability of
members.

SEC. 10. And be it enacted, That so soon as the
net profits shall exceed the sum of twenty-five
thousand dollars, a dividend of the net profits of
the company shall be declared and distributed
among the members in proportion to the amount
and duration of their policies, and such dividends
shall be made from time to time, in the discretion
of the directors, and no dividends shall be made

Dividends.