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![handle is hein.slavery/ssactsal0556 and id is 1 raw text is: No. 163.] AN ACT
To Incorporate the Troy Insurance Company in Pike
County.
SEc. 1. Be it cnacted by the Senate and House of Represen.
tati'ves (f the State of Alabama in Generul Assembly, convened,
That Alfred N. Worthy, Benjamin Gardner and J. B.
Fannin, and such othersas may hereafter become associated
with thein for that )urpose, and their successors arc hereby
Body corporate. declared and created a body politic and corporate, by the
naine of the Troy Insurance Company, and by that name
shall be capable in law of suing and being sued, as a
natural person in any of the courts of law and equity in
this State, and shall have power to purchisc, hold and
enjoy real and personal estate of any description whatso.
ever, and dispose of the same at pleasure, and shall be cni-
powered generally to do and perform any and every act
necessary to be done and performed to carry into effect the
objects of this charter, which shall not be inconsistent with
the constitution and laws of this State and of the United
States; they may have and use a common seal and change
tie same at pleasure.
Sic. 2. Be it furher enacthd, That tile capital stock of said
corporation shall be filly thOuSPAnd dollars, and shall be
Capitol octi. divided into shares of one hundred dollars each, the same
to be paid in manner following, to wit: Ten dollars oil
och sliare at the time of subscribing, and the balance in
such sums and at such times as the President and Directors
shall deteriniie and require, which capital stock may here-
after be increased to any suii not to exceed one hundred
and fifty thousand dollars, the same to be deteriminedil by a
resolution of the President and Directors, all which said
capital stock shall be deemled and held hipersonal lroperty,
and if any stockholder shall fail or refuse to make the pay-
mnents as required of him by the President aml Directors
as albresaid, such stockholder shall be hable for his or her
unl1paid stock, and may be sued for the some in tle courts
of Pike coUIy, whethier such defaIUter reside in said county
or not, and the said stock belonging to such delinquent
stockholder, by resolution of the President and Directors,
mnay be sold, and in such event the almoun t previously paid
in shall be Torfe'ited to the co eoration.
flook of sabserlp. SEc. 3. Be itfurther cnacted, That the books of subscrip-
tion. tion shall be oipened at any tiie prioir to tle first day of
July next, at such place in the town of Troy as a majority
1859-'60.
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