MAY SESSION, 1810. CHAP. I. An Act to incorporate the Hartford Fire Insur § 1. B ance Company. E it enacted by the Governor and Council and House law to have, purchase, receive, possess and enjoy to them, General pow § 2. The capital stock of said company, shall be one Capital stock ! Nine directors to be chosen annually. Each share to be entitled to one vote. Notice of election howgiven. Temporaryvacancy, how supplied. Powers of directors. Quorum. Subjects of insurance. Chap. I. Hartford Fire Insurance Company. § 3. That for the well ordering the affairs of said corporation, there shall be nine directors chosen on the first Thursday of June annually, (after the first election) by the greatest number of votes given by the stockholders of said company, at a general meeting. And those who shall be duly chosen at any election, shall be capable of serving as Directors until the expiration of the first Thursday of June next ensuing such election.-And the directors at their first meeting after such election shall choose one of their number for a President. § 4. The number of votes each stockholder shall be entitled to in the choice of directors, or any other business respecting the interest or concerns of said company, shall be equal to the number of shares he shall hold. § 5. All stockholders shall be entitled to vote by them. selves, or their agents duly appointed. None but stockholders shall be eligible as directors-Public notice shall be given by order of the directors, twenty days previous to holding an election, or general meeting of the stockholders, in a news-paper published in the city of Hartford, and in such other places as the directors shall judge necessary. § 6. In case of the death or resignation of a director, his place may be filled by a new choice for the remainder of the year, provided a majority of the directors judge it necessary. All elections for directors shall be by ballot, and the nine persons who shall have at any election the greatest number of votes shall be declared to be duly chosen. 7. The directors for the time being shall have power to appoint such officers, secretaries and servants, as they shall judge necessary; and shall be capable of executing such other powers for the well ordering and governing the affairs of the company, as shall be deemed for the best interest of the same. No director shall be entitled to any emolument, unless the same shall be ordered by the stockholders at a general meeting. § 8. Not less than three directors shall constitute a board for transacting business of the company, of whom the president shall always be one, except in case of sickness or necessary absence, in which case the directors present shall supply his place by electing one of their number as president for the occasion. S9 Said corporation shall keep their office in the city of Hartford, and may make insurance on dwelling houses or other buildings, on ships and vessels of every description while in port and on the stocks, also on goods, chattels, wares and merchandize, and other personal estate, of every name, nature and description, and shall be liable to make good and pay to the several persens who shall be in Chap. I. Hartford Fire Insurance Company. 1 sured by the said corporation; for all losses they may sus tain by fire in their houses or other buildings, ships or vessels, goods, chattels, wares, merchandize, or other personal estate as aforesaid,—provided always, that no stockhol- Stockholders der shall be liable for any loss or damage, or be responsi- not to be perble in their person or property other than the property vested in the capital and funds of the corporation. sonally liable. § 10. The stock of said corporation shall be transferrable according to such rules as the directors shall institute, and every subscriber of any share or shares in said stock who Shares to be shall neglect to pay according to the installments afore- forfeited, in said, or secure the payment of the residue of said share or shares as aforesaid, shall forfeit to the corporation such payment. share or shares, and all payments made thereon, and all profits which may have arisen therefrom. case of non Notes and pol. icies, how to be executed.. § 11. All notes or policies of insurance signed by the president, and countersigned by the secretary, shall be binding, and obligatory on said corporation, according to the terms and tenor thereof; and all notes made by any subscriber for the payment of their installments, and all notes in writing which shall be made and signed by any person or persons, his, her or their agent or servant, who What notes is usually intrusted by him, her or them, said notes being negotiable. given for the payment of money only, and made payable to any person or persons, his, her or their order, or to the bearer, and indorsed over to the corporation; shall be assignable, or indorsable over in the same manner as inland bills of exchange, are or may be according to the custom of merchants-and said corporation to which the same shall be indorsed, shall and may maintain their action thereupon for the money promised in said note against the person, who, or whose agent as aforesaid shall sign the same, or any of the persons who shall indorse the same, in like manner as in case of inland bills of exchange; and the Directors may directors may loan the money of the company upon such make loans security as they shall think fit-and may purchase for the and purchase company any of the funded debt of the United States, or bank stock, or dispose of the same at their discretion, and shall once in six months make such dividend of the profits as they shall think proper. stock. § 12. The stockholders in a general meeting may here- Capital may after, if they judge expedient, enlarge the capital of said be enlarged. company to the sum of two hundred and fifty thousand dollars. § 13. If it should happen for any cause whatsoever that the election of directors should not take place in any year on the day herein for that purpose mentioned, said corporation shall not for that reason be dissolved, but such election may thereafter be held on such convenient day, as may Corporation not to be dis. solved for neglect to choose directors. Chap. II. Humphreysville Manufacturing Company. Rolicy assignáble. First meeting, by whom to be called. for that purpose be fixed on by the directors, they causing such public notice thereof to be given as is herein before required, for an election on the days hereby designated for that purpose. § 14. In case any insured, named in any policy or contract of insurance made by the said corporation hereby created shall sell, and, convey or assign the subject insured, during the period of time for which it is insured, it shall be lawful for such insured to assign and deliver to the purchaser, such policy, or contract of insurance, and such assignee shall have all the benefit of such policy or contract of insurance, and may bring and maintain a suit thereon in his own name.-Provided that before any loss happens he shall obtain the consent of the assurer to such assignment, and have the same indorsed or annexed to the said policy or contract of insurance, executed and signed as a new policy or contract ought to be, according to the rules hereafter to be prescribed by said directors for that purpose, and not otherwise. § 15. Daniel Wadsworth, Daniel Buck and David Watkinson, are authorized to call a meeting of the stockholders, at such time and place as they shall appoint; to notify the time and place of the first meeting. And at such first meeting, the stockholders shall have power to choose directors, in the same manner as is provided for at their annual meetings, and the directors so chosen, shall hold their of fices, with all the powers given to directors by this act, until the first Thursday in June next ensuing said election. Provided, that this act may at any time be altered, amended or revoked by the General Assembly. General Assembly, May Session, 1810. LYMAN LAW, Speaker of the House of Representatives JOHN TREADWELL, Governor. Attest. THOMAS DAY, Secretary. CHAP. II. An Act incorporating the Humphreysville Manu, facturing Company. § 1. Besentatives in General Court assembled, That E it enacted by the Governor and Council and House David fiumphreys, Oliver Wolcott, and Thomas Vose, together with such other persons as have associated, or may hereafter associate with them, for the purposes herein after mentioned, their successors and assigns, be and they are hereby created and made a corporation and body politic, |