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![handle is hein.slavery/ssactsal0548 and id is 1 raw text is: 1859-'80.
after the election of a Board of Directors the subscribers
worfen. for stock ,hall not pay or secure the payment of the bal-
ance due ipoi the stock subscribed by then in manner and
form as r, tjuired by the regulations to be adopted, the first
painent atnd the stock subscribed for shall be lorfeitcd.
Hook of triiNr. Sjx. 11. Be it forther enacte~d, That said company shall
keep a book for the transfer of shares of its capital stock,
and the names of all the owners of capital stock shall
appear therein, and all transfers shall be made und r such
rules and regulations as the Board of Direciors may pre-
scribe, and the shares considered as personal property, and
be liable to attvchnent and sale under executions.
Sixc. 12. le it farther enacted, That the stockholders shall
be responsible for the amount of their stock and no more.
Si-.o 13. He it further enacted, That the said company
shall not issue any notes, bills or securities of any kind, to
tittn not isene circutate as montey ill the cummunity : Provided, That no
note. bank notes, or bill issued or made, by any bank created or
established by the authority of any of our sister States, or
of aniy foreigni country, shallbe paid out under any eircun-
stances by the company created by this act, or by any of
its oflicers or agents, under the penalty of forfeiture of the
charter by this act created: And, provided farther, That
this clanse shall expire at the end of fifteen ycars from the
passaugtge of' this act.
APiPRoVED, February 24, 1860.
No. 170.] AN ACT
To Charter the Planters and Merchants Insurance Com-
pany, of Selia,
SEc. 1. le it enacted by the Senate and ouse of Represent-
atives oj the Slate of Alaama in Gericral Aussetbly conuited,
That Anscleni L. 11aden, Thomas W. Street, James R.
Cavett, Joseph Iardie, haiah Mtrgan anl lienry Bender,
Boty corporate. and such othcrs its tnay be associated with them for that pur-
pose, and their successors are hereby creattd a botly politic
and corporate, by the n:11m of the Platiters and Merchants
Insuranic Company, at Selmn, and by that inme sill be
capiable of soninrig antl being sued in all courtE of' this State,
of purchasing, holding and conveying property of all de-
scriptiolns, to make, have anid uS a common seil, tatil the
same LIt alter and renew at pleasure, and generally to do
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