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![handle is hein.slavery/ssactsal0476 and id is 1 raw text is: 185.'56. - 274
and directors of said corporation have power to fix
the plans and mode of transfer of certificate of
stock as vell as the payment of interest and divi-
dends ; that a majority of the board of' president
and directors shall constitnte a quoruni, and that
Raid president and directors shall also have power
to pass all such by-laws as may he necessary to
IyLaws. ca ry this act into effect, and to execute and to au-
tliorize the execution of all such hargain- and c in-
tracts is a may seem to them beit for the interest of
the Company.
S Se. 7. Be it furlhcr enact(d, That the sa-id cor-
Corporation POtato n shall be responsible to its 0ei00torn to tile
responsible extont of its property, and the stniekh llers to tihe
credi tors to the extent of' stock resp ectivolv holden
tierein.
Si:. 8. Be it unher enacted, That this chatter
and all the privileges and power; hereii granted,
Lngthof time shall contil ne in loree for the term o, th ity yearts
chartered. from the subscription ol the st-ck, and that the
Pr'olerty, inl antd ulsiness I tansact ions a this
corporation shall he snlject to the saine ralvs of
taxation by law impiosed on tihe property anl sni-
lar buisiness tiansactions of other citizens
REC 9. Be it furicth) enacled, That all b 1Hds,
bills and promiissory notes made lialade a' the
office of the North Alabama Insurance ('otng py,
shall have the samie legal effects and lie suil);t'vt to
tihe same legal renedies, as if the saine were made
payable in or at any bank or bank, of this State.
APPROVED, Feb. 15, 1856.
[No. 296.] AN AUT
To incorporate the East Alabama Insurance Con-
pany at Auburn, in Macon County.
SEL1ION 1. Be it enacted by the Senate and House
of Representative8 qf the State qf Alabana in Gene-
ral Ae8Cmbly convened, That there may be estab-
lished in the town of Auburn a Oomrpany for the
purpose of transacting a general insurance hlus-](ViewImageLocal?handle=hein.slavery/ssactsal0476&div=1&collection=&method=preview&ext=.png&size=3)