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![handle is hein.slavery/ssactsal0195 and id is 1 raw text is: -153 1838.
each diluunition shall have been covered by the profits. AnT. 8. The
i4tockholders shall not he liabIc for losses beyond the amount of their re-
se)CCtivC sIIres. AnT. 9. The said company may dispose of tnortgages
given them by way of vecurity, or of stock pledged for security, or pro-
perty conveyed to them in satisfaction of debts previously contracted, or
purchased at public sale upon judgmento or orders of seizure by them ob-
tained, or of any property, immovable or movenhle, which may have
been abandoned to them for or concerning the operations of their business
or immovable property for the accommodation of the company in the
transaction of their' business ; and whenever it shall be proved to the
satisfaction of a competent court in this State, that the said company have
entered into any kind of trade or traffic contrary to the true interest and
meaning of the present article, the said corporation shall no longer be
entitled to the benefit of their charter.
Src. 10. And be itfurither enacted, That the company shall be au.
thorised to invest their money capital, and all surplus funds not divided Investiture.
in the stock of any company incorporated in the State, or in any other
securities that the President andI Directors may think proper, whenever
they may deem it necessary for the interest of the institution : Provi-
ded, nothing hercin contained shall be so construed as to authorise the
company to do banking business.
SEc. 11. ./nd le it /urther enacted, That once in every year, the
President and Directors shall lay before the stockholders at a general
meet'ng, for their information, a statement of Ohe affairs of the company. statement ot
Src. 12. And be i/further enacted, That the said Insurance Com- affar.,
pany shall not proceed to effect any insurance until the whole amount ofwhentoef-
stock is paid in money, or such amount thereof a is not paid in money, rectiusurepco
which shall he secured by mortgage or otherwise on unincumbered real
estate, or other property, to the satisfaction of the President and Direc-
tors, at not more than tvo thirds of its real value, which may be renew-
ed from time to time, as the property may increase or diminish in value;
and the President and Directors shall be judges of the increase or dimin-
ution in value and call on the individual for a renewal of their obligations,
at any time they may think proper, and a failure to renew their obliga.
tions will preveit such persons from drawing any dividend until they re-
new their obligations ; the President and Directors shall take all such ob.
ligations, and if they should think proper, may have then recorded at
the expense of the company. Approved, Jan. 9, 1836.
[No. 102.] AN ACT
Making approprIntions for certai n clums against the Stnte.
SEc. 1. Be it enacted by the Senate and Hiouse o.f Representatives
of the Vtate of .Allabania in General ./1ssenibhi convened, That
the Comptroller issue his warrant on the treasury in favor of the follow.
ing persons, having claims against the State, to be paid out ofany money
in the treasury, not otherwise appropriated, to wit: to Joseph Ruther- Joseph Roth
ford, the sum of fifteen dollars twelve-and-a-half cents, for making the erford.
retprn to a member of congress, in the second congressional district; to
James M. Cochran, the sum of eighteen dollars and twenty-five cents, j 5 Cohran
for making return of member to congress, in the second congressional
district; to William T. Dennis, the sum of fifteen dollars and twenty- WT Denals
five cents, for making tiW6 return of member to congress, in the second
congressional district , to Thoinas 0. Tyus, the sum of nine dollars and T G Tyns
fifty cents for making return to member of congress in the second con-
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