THOMAS H. HICKS, ESQUIRE, GOVERNOR.

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declared a body politic and corporate in deed and
in law, and shall be known by the name and
style of "The Citizens' Fire Insurance Company ;"
and by that name shall be able to sue and be
sued, to defend and be defended in all courts of
record or elsewhere; and to have and to hold
property, real and personal; to have a common
seal, the same to alter, break and renew at plea-
sure; and also to ordain, establish and put in
execution such by-laws, ordinances and regula-
tions as shall appear necessary and convenient
for the government of said corporation, not con-
trary to the laws of this State, and generally to
do all and singular the matters which to them
it shall lawfully appertain to do for the good
management of said corporation.

SEC. 2. And be it enacted, That the capital
stock of said company shall not exceed two hun-
dred thousand dollars, divided into shares of one
hundred dollars each; and there shall be paid
by each subscriber at the time of his subscription
an instalment of five dollars on each share of
stock subscribed for; and that the said company
shall go into operation whenever one thousand
shares are subscribed for.

Capital stock.

SEC. 8. And be it, enacted, That the capital stock
of said company shall be called in and paid at
such times, and in such instalments as the presi-
dent and directors shall require, giving thirty
days notice thereof; and if any stockholder shall
neglect to pay such instalments at the time ap-
pointed, and the same remain unpaid for the
period of three months, he shall, at the discretion
of the directors, forfeit to the use of the company
all his right, title and interest in and to every
and all share or shares on account of which de-
fault in payment may be made as aforesaid; in
the event of a forfeiture, the share or shares so
forfeited may be disposed of at the discretion of

Instalments.

the board of directors; Provided, that no stock-
holder shall be entitled to vote at any meeting
of the stockholders who is in arrears for instal-
ments due to said company.

Proviso.

SEC. 4. And be it enacted, That the affairs of
said company shall be managed by a board of
seven directors, who shall be elected annually on
such day as shall be designated in the by-laws;

Management.