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![handle is hein.slavery/ssactsal0549 and id is 1 raw text is: No. 172.] . AN ACT
To Incorporate the Union Insurance Compiny.
SEc. 1. Be it enacted by the Seuaate uu House of lRc2ee1t'
atives of the State q Alaiama in General Assembly, convened,
That Jamies L. Price, Columbus V. Lee, Richard II. Adams,
William E. Clarke, David A. Boyd, Samuel A. Fitts, Iody corporate.
Samuel Houston and Richard II. Hudson, and their asso-
ciates he, and are hereby constitutedi a body corporate,
under the name and style of the Union Insurance Con-
pany of Union Town. The amount of the capital stock
thereof to be not less than fifty, nor more tlmn one iundred
and fifty thousand dollars, and to be divided into shares of
one hundred dollars each.
SkC. 2. Be itffurther enacted, That notice shall be given
for two successive weeks by advertisement in a newspaper
published in Perry county, of the time and place, when
and where, subscription will be received for stock in said Notice by adver-
conmipany, said subscriptions s hall bec opened under the useinent.
inspetion and Control of any three or more persons named
in the first section of this ntt, and the sum of twenty dollars
upon oeach share subseribed for shall be paid in at the time
of sulbeription, and the remainder secured to be paid at
such time, and be paid in such iminner as the Board of
Directors after their election sit il deutermine; the books to
remain open for subscription for five days, and no person.
shall be ullowed to subscribe more thn one hundred shares
in one any, and when Ole stum of fifty thousand dollitri
shall be subscribed the cotmpany shall bo organized to com-
mlecee busintess.
SEC. 8. Be ?t further ,rnted, That a board of Directors
to consist of four persons, owners of stock to the atnouit
of two thousand dollars, who sihll hold their ollice for IoeBRN of dtrc-
year, shall be elected by Uillot by the stockioliess votig to
in persol or by proxy, tter notice by advertiseient for
two cotnsectitive w.ks 1 Il at nwspaper published in Perry
county, statinig the tme aid phlce of holding the election,
thle first electio to be hai under the inspection of tiny
three or more of the persons t ned i I tle first stetion of
this act, and subseqtcent elections to be heli under the
inspettiot of three ferstl s to be appoint d fy the Board
of Dilrtectors; the b1oik hiolicrs 11t all Clectiolts ;tuil at il] leona.
ncetinus for the trnisuetion of business are entitlei each to
one vote for each and every siare of aitail stock they taty
ownii, and ill all me i tigs of the stockholders, those holdinig
1859-'60.
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