About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

An Act to incorporate the Western Missouri Insurance Company. 1859 155 (1859)

handle is hein.slavery/ssactsmo0202 and id is 1 raw text is: agents in all parts of the United States and territories, for such length of time, and to grant such powers to them, as said Directors may see fit, for the, purpose of receiving applications for insurance, collecting assessments, and. attending to the interest and business of said company. § 26. Each member of said company shall, in the election of Directors- and in the decision of any question, at any general or special meeting of the members of said company, be entitled to one vote and no more, but no, voting by proxy shall be allowed. § 27. The company hereby created shall not be concerned in trade or other business except the insurance of property against loss or damage by fire, or otherwise, as specified ; nor shall said company, by any possible- construction of the power granted by this act, exercise any bankTng privi- leges whatsoever: but this act shall be deemed and taken to be a public act, and shall be liberally construed to effect the ends and purposes hereby in- tended and contemplated. § 28. This act shall not be construed so as to affect the rights of any person or persons already insured by said St. Louis Mutual Fire and Ma- rine Insurance Company, at the time of the passage of this act, nor shall this act be construed so as to affect contracts heretofore made by said com- pany; but any assessment hereafter made, and all the acts and proceedings of said company, and the Board of Directors thereof, shall be made or done in conformity with the provisions and requirements of this act, and all juris- diction hereafter sought to be enforced by said company, as well as all rem- edies sought to be enforced against said company, by any person or persons insured therein, shall, after the passage of this act, be prosecuted and pro- ceeded in according to and in conform:ty with the provisions hereof. § 29. All of the act incorporating thq St. Louis Mutual Fire and Marine Insurance Company, approved February 22, 1851, which is not embodied in this act, is hereby repealed, saving, however, to the com- pany, and to the persons insured therein, their respective rights as herein- before provided. Approved January 16, 1860. AN ACT to incorporate the Western Missouri Insurance Company. 1. An Insurance Company established; its capital. 3. Commissioners named to open books to receive the subscription for stock; when a certain number of shares sold, Directors to be elected ; notice of time of election to be given by Commissioners. 3. The subscribers to said stock made a body corporate; their name and style; general powers of corpora- tion. 4. Manner of paying subscriptions for stock; penalty for refusing to pay calls. F. Who affairs of corporation to be man- aged by; when Directors to be elect- ed, and where; as to the right of voting; election of Directors not held at the time mentioned in this act, may be elected some other time. § 6. Directors to elect President and Vice President; duties of President; ex- tent of liability of stockholder for loans of company. 7. Further provisions as to duties of Pres- ident. 8. Director must be a stockholder. 9. May insure all kinds of property against loss by fire, or in transporta- tion, and on lives; may lend money; may insure themselves; how surplus capital may be invested. 10. Stock deemed personal property, and transferable; what number of Di- rectors may form a Board; further provisions as to transfers of stock. 11. When net profits to be ascertained and how divided. 12. Authorized to establish agencies. 155 INSURANCE.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most