Chap. 306.—An ACT to incorporate the Southern Accident Insurance
Company.

Passed January 17, 1866.

1. Be it enacted by the general assembly of Virginia, That
Maurice L. Langhorne, Lucien Peyton, William “D. Miller,
Charles N. Blackford, A.B. Rucker, G. W. Latham, John II.
Flood, C. V. W infree, and others who may associate under
this act, and their successors, are hereby created and declared
to bea body politic and corporate, by the name and style of
The Southern Accident Insurance Company; and by the
same name, shall have perpetual succession; shall make and
establish a common seal, with the privilege of altering and
renewing the sanee at pleasure; may sue and be sued, plead
and be impleaded, in all the courts of law and equity of this
state and elsewhere; shall purchase, hold, lease or sell pro-
perty, real or personal: provided, however, that said com-
pany shall not own or hold more real estate than shall be
absolutely necessary for the erection of such buildings as
may be necessary tor the prosecution of the business of said
company; and shall ordain and establish and put into execu-
tion such rules, by-laws, ordinances and regulations as may
be necessary and convenient for the government and organi-
zation of the corporation; and generally may do every act
and thing necessary to carry into effect this act: provided
such acts be not inconsistent with the laws of this state or of
the United States. |

2. The capital stock of said company shall not be less than
two hundred thousand dollars, to be divided into shares of
one hundred dollars each; but privilege is hereby granted to
said company to increase their said capital stock from time
to time, as it may deem best, in such manner as its president
and directors may prescribe: provided the said capital shall
not exceed the sum of one million of dollays. Said capital
stock shall be payable by each subscriber at such time or
times‘as it may be ealled tor by the president and directors
of said company, in such proportion as they may deem neces-
sary; and if any subscriber shall fail to pay the amount so
‘atled for within twenty days atter the same has been de-
manded, the said amount may be recovered by motion, upon
ten days’ notice, in any court of record in the county or cor-
poration wherein the delinquent stockholder resides.

‘3. The object and business of said company is prescribed
to be, the insuring of persons travelling by railroad, steam-
boat, stagecoach, or any other means of conveyance, against
Injury to body or loss of life, and against any accident or
injury occurring in any manner whatsoever, upon such terms
as may be agreed upon by the contracting parties.

4. The funds of the company may be invested in bank,
state or other stocks; in bonds of this or any other state of
the United States. or of any incorporated company; in bonds,
notes, or bills drawn or accepted by private individuals, with
or without real estate security; or in any other manner
which, in the opinion of its president and directors, may be
deemed sate and expedient.

). The affairs of the company shall be managed by a board
of ten directors (five of whom shall constitute a quorum),
who shall be elected by the stockholders within six months
after the passave of this act, and shall continue in office one
year, or until their successors are appointed,

6. The directors thus elected shill have power to clect one
of their number president of thiseompany; and may turther
appoint such other officers and clerks as they may find neces-
sary for the propcr conducting of the business of the com-
pany, and shall allow them suitable compensation for their
services: all of which officers shall hold their places during
the pleasure of the board of directors.
7. It shall be lawful for the company hereby incorporated
to establish branch offices or agencies within this state or
elsewhere, at such points as may be necessary to enable them
best to conduct their business; and the corporate seal of
said corporation shall be used at such acencies, under the
direction of the president and directors, if deemed necessary.

x, Insurance may be etlected for the benetit of either the
insured, or for such persons or person as he or she may
indicate.

9. The president and directors may, out of the profits of
said company, declare such dividends as they may deem
proper. They shall annually make and publish 2 poport
showing the condition of the company.

10. The members of the company shall not be liahle for
any loss, damage or responsibility other than the property
they have in the capital and tinds of the company,.to the
amount of the shares respectively held by them, and any
profits arising therefrom not divided.

11. The persons named in the first section shall be com-
missioners to open books to receive subscriptions to the
‘apital stock of said company, at such place or places as they
may deem proper. Three days’ notice shall be given by said
commissioners of the time and place of opening said books,
in some newspaper published in the city of Lynchburg;
which books shall not be closed in less than ten days from
the time of opening the same. A like notice shall be given
by the said commissioners for the time and place of the
meeting of the stockholders to choose directors. They shall
supervise the election of the first board of directors, and
shall deliver over to them, when so elected, any property
belonging to said corporation that may have come into their
hands.

12. This act shall be in force from its passage, and shall be
at all times subject to modification, alteration, amendment or
repeal, at the pleasure of the general assembly.

Chap. 306.—An ACT to incorporate the Southern Accident Insurance
Company.

Passed January 17, 1866.

1. Be it enacted by the general assembly of Virginia, That
Maurice L. Langhorne, Lucien Peyton, William “D. Miller,
Charles N. Blackford, A.B. Rucker, G. W. Latham, John II.
Flood, C. V. W infree, and others who may associate under
this act, and their successors, are hereby created and declared
to bea body politic and corporate, by the name and style of
The Southern Accident Insurance Company; and by the
same name, shall have perpetual succession; shall make and
establish a common seal, with the privilege of altering and
renewing the sanee at pleasure; may sue and be sued, plead
and be impleaded, in all the courts of law and equity of this
state and elsewhere; shall purchase, hold, lease or sell pro-
perty, real or personal: provided, however, that said com-
pany shall not own or hold more real estate than shall be
absolutely necessary for the erection of such buildings as
may be necessary tor the prosecution of the business of said
company; and shall ordain and establish and put into execu-
tion such rules, by-laws, ordinances and regulations as may
be necessary and convenient for the government and organi-
zation of the corporation; and generally may do every act
and thing necessary to carry into effect this act: provided
such acts be not inconsistent with the laws of this state or of
the United States. |

2. The capital stock of said company shall not be less than
two hundred thousand dollars, to be divided into shares of
one hundred dollars each; but privilege is hereby granted to
said company to increase their said capital stock from time
to time, as it may deem best, in such manner as its president
and directors may prescribe: provided the said capital shall
not exceed the sum of one million of dollays. Said capital
stock shall be payable by each subscriber at such time or
times‘as it may be ealled tor by the president and directors
of said company, in such proportion as they may deem neces-
sary; and if any subscriber shall fail to pay the amount so
‘atled for within twenty days atter the same has been de-
manded, the said amount may be recovered by motion, upon
ten days’ notice, in any court of record in the county or cor-
poration wherein the delinquent stockholder resides.

‘3. The object and business of said company is prescribed
to be, the insuring of persons travelling by railroad, steam-
boat, stagecoach, or any other means of conveyance, against
Injury to body or loss of life, and against any accident or
injury occurring in any manner whatsoever, upon such terms
as may be agreed upon by the contracting parties.

4. The funds of the company may be invested in bank,
state or other stocks; in bonds of this or any other state of
the United States. or of any incorporated company; in bonds,
notes, or bills drawn or accepted by private individuals, with
or without real estate security; or in any other manner
which, in the opinion of its president and directors, may be
deemed sate and expedient.

). The affairs of the company shall be managed by a board
of ten directors (five of whom shall constitute a quorum),
who shall be elected by the stockholders within six months
after the passave of this act, and shall continue in office one
year, or until their successors are appointed,

6. The directors thus elected shill have power to clect one
of their number president of thiseompany; and may turther
appoint such other officers and clerks as they may find neces-
sary for the propcr conducting of the business of the com-
pany, and shall allow them suitable compensation for their
services: all of which officers shall hold their places during
the pleasure of the board of directors.
7. It shall be lawful for the company hereby incorporated
to establish branch offices or agencies within this state or
elsewhere, at such points as may be necessary to enable them
best to conduct their business; and the corporate seal of
said corporation shall be used at such acencies, under the
direction of the president and directors, if deemed necessary.

x, Insurance may be etlected for the benetit of either the
insured, or for such persons or person as he or she may
indicate.

9. The president and directors may, out of the profits of
said company, declare such dividends as they may deem
proper. They shall annually make and publish 2 poport
showing the condition of the company.

10. The members of the company shall not be liahle for
any loss, damage or responsibility other than the property
they have in the capital and tinds of the company,.to the
amount of the shares respectively held by them, and any
profits arising therefrom not divided.

11. The persons named in the first section shall be com-
missioners to open books to receive subscriptions to the
‘apital stock of said company, at such place or places as they
may deem proper. Three days’ notice shall be given by said
commissioners of the time and place of opening said books,
in some newspaper published in the city of Lynchburg;
which books shall not be closed in less than ten days from
the time of opening the same. A like notice shall be given
by the said commissioners for the time and place of the
meeting of the stockholders to choose directors. They shall
supervise the election of the first board of directors, and
shall deliver over to them, when so elected, any property
belonging to said corporation that may have come into their
hands.

12. This act shall be in force from its passage, and shall be
at all times subject to modification, alteration, amendment or
repeal, at the pleasure of the general assembly.