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bound to pay
and confirmation, the party giving such security shall be entitled to all the rights and privileges, and be subject to all the liabilities to which the original party to whom the policy issued was entitled and subjected under this act.
Sec. 8. Every member of said company shall be bound to pay Members for losses and such necessary expenses as aforesaid, accruing in for losses in and to said corporation, in proportion to the amount of his depos- deposite note. ite notes or note ; 'and all buildings insured by said company, together with the right, title and interest of the assured to the lands on which they stand, shall be, and are hereby pledged to said company; and said company shall have a lien thereon in nature of a mortgage, to the amount of his deposite note, which shall continue during his policy; the lien to take effect whenever the said company shall file with the register, and have entered in the book of mortgages kept by the register of the county where such property is situate, a memorandum of the name of the individual insured, a description of the property insured, the amount of deposite note, and the term during which said policy shall continue.
Sec. 9. Suits at law may be maintained by said corporation, Suits may be against any of its members, for collection of said premium by and notes, or any assessment thereon, or for any other cause relating members. to the business of said corporation ; also, suits at law may be prosecuted and maintained by any mernber against said corporation for losses or damages by fire, if payment is withheld more than three months after the company are duly notified of such losses.
Sec. 10. The directors shall, after receiving notice of any loss Directors to or damage by fire, sustained by any member, and ascertaining af the same, or after the rendition of any judgment as aforesaid, bers towards against said company for loss or damage, settle and determine the" sums to be paid by the several members thereof as their respective proportions of such loss, and publish the same in such manner as they shall see fit; and the sum to be paid by each member shall always be in proportion to the original amount of his deposite note or notes, and shall be paid to the treasurer within thirty days next after the publication of said notice. If any member shall, for the space of thirty days after the publication of said notice, neglect or refuse to pay the sum assessed upon him as his proportion of any loss as aforesaid, in such case the directors may
determine amount to be paid by mem
sue for and recover the whole amount of his deposite note or
of the term for which the insurance was made. When whole Sec. 11. If the whole amount of deposite notes shall be insuffideposite cient to pay the loss occasioned by any fire or fires, in such case cient to pay the sufferers insured by said company, shall receive towards mak
ing good their losses, a proportionate dividend of the whole amount of said notes, according to the sums by them respectively insured ; and in addition thereto, a sum to be assessed on all the members of said company, on the same principles as regulated the amounts of their respective deposite notes, but not exceeding one dollar on every hundred dollars by them respectively insured; and no member shall ever be required to pay for any loss occasioned by fire at any one time more than one dollar on every hundred dollars insured in said company, in addition to the amount of his deposite note, nor more than that amount for any such loss after his said note shall have been paid in and expended; but any member, upon the payment of the whole of his deposite note, and surrendering his policy before any subsequent loss or expense
has occurred, may be discharged from said company. When poli- Sec. 12. No policy shall be issued by said company until appliissued."* cation shall be made for insurance for fifty thousand dollars, at
least. Corporation Sec. 13. The operations and business of the corporation shall Niles ; not to be carried on and conducted at such place in said village of Niles
as shall be designated by the board of directors; and the said corporation shall not issue any note, check or obligation for the payment of money, nor loan money on interest, nor transact any business in the nature of banking business, upon penalty of for
feiture of their charter. Act limited Sec. 14. This act shall continue in force twenty years, subject years. to be altered, amended or repealed by the legislature.
Approved April 17, 1839.
cies to be
do banking business,
Act limited to twenty
[No. 70.] An Act to increase the capital stock of the Gibralter
and Flat Rock Company. Section 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That the Gibralter and Flat Rock company shall have power to increase their capital stock from four hundred thousand dollars, at which it is now fixed, by the act of April 3, 1838, to one million of dollars.
Approved April 17, 1839.
salt to be
ing pork and
[No. 71.] An Act amendatory of part first, title seven, and chap
ter first of the Revised Statutes, relative to the inspection of provisions, &c.
Section 1. Be it enacted by the Senate and House of Representa- Saltpetre and tives of the State of Michigan, That the inspectors of provisions used in packwithin this state shall not hereafter be required to use saltpetre in bello the packing of pork, hams and shoulders excepted, nor shall they be required to use for packing beef, a greater quantity of salt, exclusive of a strong pickle, than fifty pounds to each barrel, and half said quantity for each half barrel; and when intended for immediate consumption, the quantity of salt may be lessened at the discretion of the inspectors thereof: Provided, The salt to be used for packing or pickling the same, or any other salted provisions, shall be good, fair and clean, and may be the manufacture of any country, any existing law to the contrary notwithstanding.
Sec. 2. That in addition to the three qualities of pork provided one hog for in the sixteenth section of part five, title seven, and chapter first of the revised statutes, there shall be added that of “one hog pork,” which shall consist of pieces, as near as may be, weighing eight pounds each, making two hundred pounds of pork, well fattened, from hogs weighing two hundred pounds or more of pork, and may include two hams, two shoulders, and one head, excluding legs, snouts and ears; the pieces of pork, of all qualities, shall be packed on the edge, with at least sixty pounds of clean, fair salt to each barrel, and when thus packed and headed, shall be filled with strong pickle.
Sec. 3. This act shall take effect and be in force from and after its passage.
Approved April 17, 1839.
[No. 72.] An Act to amend an act, entitled “ An act to incor
porate the Grand Rapids Bridge Company." Section 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That the act entitled “ An act to incorporate the Grand Rapids bridge company,” is hereby revived, and the time for completing the bridge mentioned in said act, extended to the period of two years from and after the passage of this act.
Approved April 17,-1839.
[No. 73.] An Act to organize a certain township. Section 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That all that part of the county of Barry, designated by the United States survey as township number three and four north, of range number nine west, be and the same is hereby set off and organized into a township by the name of Irving, and the first township meeting shall be held at the house of Albert E. Bull, in said township.
Sec. 2. This act shall take effect from and after the thirty-first day of March next.
Approved April 17, 1839.
n Insurance com
[No. 74.] An Act to incorporate the Adrian insurance com
pany. Section 1. Be it enacted by the Senate and House of Repretabrished at sentatives of the State of Michigan, That an insurance company
shall be established in the village of Adrian, in the county of
Insurance company es
capital ; shares.
Lenawee, under the name and style of the “Adrian insurance company," with a capital stock of two hundred and fifty thousand dollars, divided in shares of fifty dollars each, to be subscribed and paid for by individuals, companies or corporations, in the manner hereinafter specified.
Sec. 2. That Addison J. Comstock, Darius C. Jackson, Books for Thomas Kaley, Warren Bradish, Joseph H. Cleveland, Milton to be opened N. Halsey and Warner M. Comstock, or any three of them, be and they are hereby authorized to open books for subscription, in the village of Adrian, for the capital stock of said company, on the first or second Monday in June next, and to keep them open every day between the hours of nine o'clock A. M. to five P. M. for ten days, (Sunday excepted) when the same shall be closed ; if within the said ten days, one thousand shares shall be subscribed for, the subscribers may meet at some suitable place in the village of Adrian, after fifteen days' notice therof shall have been given in a newspaper published in said village, and choose three trustees, who may at any time after having given fifteen days notice in one of the newspapers of the village, cause the subscription book to be re-opened, and continue open until the whole amount of stock shall be taken ; if, however, within the said ten days, more than five thousand shares shall be subscribed for, the said commissioners shall apportion the same among the applicants therefor.
Sec. 3. The payments of the subscriptions shall be made and Subscripcompleted by the subscribers respectively, at the times and in the to be paid. manner following : at the time of subscribing, there shall be paid on each share, one dollar ; and after the election of trustees, and before the company shall go into operation, two dollars. The balance due on each share shall be subject to the call of the trustees, and the said company shall not be authorized to make any policy or contract of insurance with any person, until the whole amount of shares subscribed shall be actually paid or satisfactorily secured to be paid, by endorsed notes, by hypothecated stocks, or by mortgage on unincumbered real estate.
Sec. 4. The subscribers to the said company, their associates, Body corpo. successors and assigns, are hereby constituted a body corporate politic. and politic, for the term of twenty years, by the name and style of the “Adrian insurance company,” and by that name they shall be capable in law of pleading and being impleaded, answering and being answered unto, defending and being defended, in all
** tions when