Chap. 334.—An ACT to ratify and confirm the charter of the lumbermen’s
marine insurance company.

Approved February 14, 1900.

Whereas the corporation court of the city of Norfolk did, on the
twenty-fourth day of March, anno domini, eighteen hundred and ninety-
nine, grant a charter of incorporation to the lumbermen’s marine
insurance company, as follows:

Virginia: In the corporation court of the city of Norfolk.—This dav
came J. L. Roper, R. J. Camp, R. 8. Cohn, W. B. Roper, and Samuel M.

vogle
Lloyd, who have duly made, signed, and acknowledged, before a
10tary public, the certificate in writing hereto attached, bearing date the
ifteenth day of March, eighteen hundred and ninety-nine, and pre-
sented the same to the court.

Upon reading and maturely considering said certificate, and the appli-
cation therein made, the court doth adjudge, order, and decree that a
charter of incorporation be, and it is hereby, granted to the said J. L.
Roper, R. J. Camp, R. 8. Cohn, W. B. Roper, and Samuel M. Lloyd, upon
the following terms, that is to say:

First. The said J. L. Roper, R. J. Camp, R. S. Cohn, W. B. Roper,
and Samuel M. Lloyd, and such other persons as are now or may here-
after be associated with them, their successors and assigns, are hereby
created a body politic and corporate, under and by the name of “ the
lumbermen’s marine insurance company,” and as such company shall
have all the general powers, and be subject to all the general restrictions
conferred and imposed by, and be governed by the provisions of, chap-
ters forty-six and forty-seven of the code of Virginia, and the laws of
this state since or hereafter passed, amending, enlarging, extending, or
restricting the same, so far as they are applicable and not inconsistent
with the provisions of this charter.

Second. The purposes for which said company is formed shall be to
conduct a general marine insurance business, including insurance against
the adventures or perils of the seas, men of war, fires, enemies, pirates,
rovers, thieves, jettisons, letters of marque and counter marque, reprisals,
takings at sea, arrests, restraints and detainments of all kings, princes,
or people of any nation, condition, or quality whatsoever, barratry of
the master and mariners, and all other perils, losses, and misfortunes
that may happen to the hurt, detriment, or damage of any ships, goods,
or merchandise, and to that end to do such things and to insure against
any and all of such perils, as said company shall deem expedient for the
purposes of properly conducting the said business of marine insurance.

And said company is authorized to make such contracts for insurance
against any or all of said perils that it may deem expedient in the trans-
action of its business.

The said company is especially authorized to subscribe to, purchase,
or otherwise acquire the stock of any other company, and any other com-
pany shall have the right to subscribe to, purchase, or otherwise acquire
the stock of this company.

Third. The capital stock of said company shall be not less than ten
thousand dollars nor more than fifty thousand dollars, divided into shares
of one hundred dollars each; and there shall be no individual liability
on the subscribers or stockholders beyond the unpaid portions of their
respective subscriptions to the stock of this company.

The company, or the incorporators, shall have power to determine
how subscriptions to its capital stock may be received, and no notice of
the time or place of receiving such subscriptions shall be necessary. It
may increase or diminish its capital stock from time to time in such
manner as it may elect within the limits above prescribed.

Fourth. It shall have power to acquire and hold real estate not to
exceed five hundred acres at any one time, and to dispose of, sell, grant,
and convey, or encumtber by mortgage or otherwise its property, real
and personal.

Fifth. The place at which its principal office is to be kept is in the
city of Norfolk, in the state of Virginia.

Sixth. The chief business to be transacted by it is marine insurance
as set forth in paragraph second above.

Seventh. The names and residences of the officers who, for the first
year, are to manage the affairs of the company are as follows:

E. C. Fosburgh, Norfolk, Virginia, president; R. S. Cohn, Norfolk,
Virginia, vice-president; W. B. Roper, Norfolk, Virginia, secretary and
treasurer; Frank E. Waters, Baltimore, Maryland, director; R. J. Camp,
Franklin, Southampton county, Virginia, director; John L. Roper, Nor-
folk, Virginia, director; R. 8S. Cohn, Norfolk, Virginia, director; E. C.
Fosburgh, Norfolk, Virginia, director.

Eighth. The said company shall pay all its taxes and other demands
against it due the state of Virginia in current money of the United
States and not in coupons; and

Whereas the said company desires that its charter, granted to it as
aforesaid, shall now be ratified and confirmed; now, therefore,

1. Be it enacted by the general assembly of Virginia, That the said
charter of the lumbermen’s marine insurance company be, and the
same hereby is, ratified and confirmed except in so far as the officers
thereof may have been changed in the meanwhile, in which event such
change of officers is also hereby ratified and confirmed, and the said
charter is hereby declared to be as valid to all intents and purposes as
if originally granted by an act of the general assembly duly approved
by the governor.

2. This act shall be in force from its passage.