Chap. 295.—An ACT to incorporate the Virginia lusurance Company.

Passed) December 18, 1865.

1. Be it enacted by the general assembly of Virginia, That
William Hf. Tams, Briscoe B. Donache, Henderson M. Bell,
Michael G. Hlarman, A. Plinkett Birne and Nicholas Kk.
Trout, together with such other persons as may be hereatter
associated with them, shall be and they are hereby consti-
tuted and made a body politic and corporate, by the name
and style of The Virgima Insurance Company ; and by that
name and style, are invested with all the rights and privileges
conferred, and made subject to all the rules , regulations and
restrictions Imposed by the Code of Vi irerinia, and all acts
amendatory thereot. applicable to such corporations, and not
inconsistent with the provisions of this act.

2. The eapital stock of said corporation shall not be’less
than fitty thousand dollars nor more than one million dollars,
divided into shares of twenty-five dollars each.

3. The central oflice of said company shall be located in
the town of Staunton; and the persons named in the first
section shall be the commissioners to receive the subscrip-
tions to the capital stock of the company, any three of whom

ay act.

wd The board of directors shall be elected by the stock-
holders, and shall consist of seven members, one of whom,
elected by the board, shall be the president. Each stock-
holder of the company shall be entitled to as many votes at
any meeting of the stockholders as he may own shares in
said company.
5. The president and directors are authorized to make in-
surance upon dwellings, houses, stores and other kinds of
build'ngs, and upon household furniture, and other property
and merchanilise, against loss or damage by tire; to make in-
surance on lives; to grant aunuities; to guarantee the pay-
ment of notes, bonds and bills of exchanve; and to make all
kind§ of contracts for the insurance of every description of
property; and to make all and every Insurance connected
with marine risks and risks of transportation and navigation ;
to cause themselves to be insured against all risks upon the
interest they may have in any property or lives in their own
right, or in virtue of any loans or advances, or of any policy
or contract of insurance; to receive money on deposit, and

ay interest thereon, as may be advantageous to thé ‘stock-
folders: to provide for the investment of funds of the com.
pany in such manner as may be deemed most venetian! and
to invest the same in any stocks of any kind, or loans, or
otherwise, as may be judged best for the interest of the com-
pany: provided, that in no event shall the deposits be liable
for the satisfaction of any polley or contract of Insurance.

6. All policies of insurance, or other contracts made by
the said company, signed Ly the president and countersigned
by the secretary, shall, be obligatory on. said company, and
have the same effect as if’ the said policies and contracts had
been attested by a corporate sc al.

7. Nothing in tins act shall be so construed as to authorize
the said company to ixsne or put in circulation any note in
the nature of a bank note, or own more land than is necessary
for its ofiice building, unless tor the purpose of securing or
obtaining payment of debts contracted with the said corpo-
ration in the transaction of its business.

& The president and directors may apport an agent in

any of the cities, towns or counties ‘of this or any of the
‘states, to receive niferinss for Insurance, aud for the transne-
tion of such business of the company as may be confided to
him. :
9. The stockholders of the company shall uot be Hable for
any loss, damave or responsibility other than the property
they may have in the capital stock and funds of the company,
to the amount of the shares respectively held by them. and
any profits arising thereon and not divided.

10. The secretary of the said company shall be a competent
witness in all suits for or avainst the company, im all courts
of this commonwealth: provided his interest In said company
shall not exceed thirty shares.

11. This act shall be and continue in force from its pas-
save: provided nothing herein contained shall prohibit the
ceneral assembly from altering, amending or repealing the
same.
Chap. 295.—An ACT to incorporate the Virginia lusurance Company.

Passed) December 18, 1865.

1. Be it enacted by the general assembly of Virginia, That
William Hf. Tams, Briscoe B. Donache, Henderson M. Bell,
Michael G. Hlarman, A. Plinkett Birne and Nicholas Kk.
Trout, together with such other persons as may be hereatter
associated with them, shall be and they are hereby consti-
tuted and made a body politic and corporate, by the name
and style of The Virgima Insurance Company ; and by that
name and style, are invested with all the rights and privileges
conferred, and made subject to all the rules , regulations and
restrictions Imposed by the Code of Vi irerinia, and all acts
amendatory thereot. applicable to such corporations, and not
inconsistent with the provisions of this act.

2. The eapital stock of said corporation shall not be’less
than fitty thousand dollars nor more than one million dollars,
divided into shares of twenty-five dollars each.

3. The central oflice of said company shall be located in
the town of Staunton; and the persons named in the first
section shall be the commissioners to receive the subscrip-
tions to the capital stock of the company, any three of whom

ay act.

wd The board of directors shall be elected by the stock-
holders, and shall consist of seven members, one of whom,
elected by the board, shall be the president. Each stock-
holder of the company shall be entitled to as many votes at
any meeting of the stockholders as he may own shares in
said company.
5. The president and directors are authorized to make in-
surance upon dwellings, houses, stores and other kinds of
build'ngs, and upon household furniture, and other property
and merchanilise, against loss or damage by tire; to make in-
surance on lives; to grant aunuities; to guarantee the pay-
ment of notes, bonds and bills of exchanve; and to make all
kind§ of contracts for the insurance of every description of
property; and to make all and every Insurance connected
with marine risks and risks of transportation and navigation ;
to cause themselves to be insured against all risks upon the
interest they may have in any property or lives in their own
right, or in virtue of any loans or advances, or of any policy
or contract of insurance; to receive money on deposit, and

ay interest thereon, as may be advantageous to thé ‘stock-
folders: to provide for the investment of funds of the com.
pany in such manner as may be deemed most venetian! and
to invest the same in any stocks of any kind, or loans, or
otherwise, as may be judged best for the interest of the com-
pany: provided, that in no event shall the deposits be liable
for the satisfaction of any polley or contract of Insurance.

6. All policies of insurance, or other contracts made by
the said company, signed Ly the president and countersigned
by the secretary, shall, be obligatory on. said company, and
have the same effect as if’ the said policies and contracts had
been attested by a corporate sc al.

7. Nothing in tins act shall be so construed as to authorize
the said company to ixsne or put in circulation any note in
the nature of a bank note, or own more land than is necessary
for its ofiice building, unless tor the purpose of securing or
obtaining payment of debts contracted with the said corpo-
ration in the transaction of its business.

& The president and directors may apport an agent in

any of the cities, towns or counties ‘of this or any of the
‘states, to receive niferinss for Insurance, aud for the transne-
tion of such business of the company as may be confided to
him. :
9. The stockholders of the company shall uot be Hable for
any loss, damave or responsibility other than the property
they may have in the capital stock and funds of the company,
to the amount of the shares respectively held by them. and
any profits arising thereon and not divided.

10. The secretary of the said company shall be a competent
witness in all suits for or avainst the company, im all courts
of this commonwealth: provided his interest In said company
shall not exceed thirty shares.

11. This act shall be and continue in force from its pas-
save: provided nothing herein contained shall prohibit the
ceneral assembly from altering, amending or repealing the
same.