THOMAS H. HICKS, ESQUIRE, GOVERNOR.

85

SEC. 7. And be it enacted, That every house or
other building, insured by this Company, that is
destroyed by fire from the first floor upwards, shall
he deemed as demolished; and the Directors shall
cause the amount of money insured thereon to be
paid within thirty days after notice shall be given
them of the loss as aforesaid.

Insurance to
be paid in thir-
ty days.

SEC. 8. And be it, enacted, That in case of a
partial destruction by fire, the loss shall be deter-
mined by assessors appointed as follows: the per-
son whose property is insured shall select one dis-
interested person within ten days; after such
selection, the Board of Directors of this Associa-
tion shall select another. Should these two per-
sons disagree in their valuation of the loss, they
shall select another disinterested person, and the
award of the majority shall be final, and the Di-
rectors shall cause the same to be paid within
thirty days next after such award.

In case of par-
tial destruction
award how to
be determined.

SEC. 9. And he it enacted, That this act shall
take effect from the date of its passage; and that
nothing hererin contained shall authorise the said
Company to transact the business of banking, or
issue bills as currency, and the Legislature hereby
reserves the right to alter, amend or repeal this
charter hereby enacted.

In force-bank-
ing forbid.