Chap. 432.—An ACT to incorporate the Tidewater mutual insurance company,

Approved February 21, 1898.

Whereas it 1s represented that a number of citizens of the counties o:
Middlesex, Essex, Caroline, King and (Queen, Gloucester and Mathews
are desirous of forming themselves into a mutual association or com-
pany for the purpose of giving aid and assistance to each other in cases
of loss caused by fire, wind and Hghtning, or any one or more of saic
causes: therefore,

1. Be it enacted by the general assembly of Virginia, That J. W.
Fleet, Z H. Pastles, L. W. Hudwins, C. K. Weaver, L. C. Catlett, W.
P. Roane, R. D. Hilliard, E. T. Purkins, B. B. Dutton, Manly Broaddus.
RON, Pollard, M. W. Corr, W. J. Parker, C. M. Smoot, William ( amp-
bell, C. B. Conway, M. G. Broaddus, and W. LL. Cobb, and such othe
persons as are now, or may hereafter become associated with them, be,
and they are hereby, created a body politic and corporate by the nam
of the Tidewater mutual insurance company, and by that name are tc
have a perpetual succession and a common seal which it may alter o1
renew at its pleasure, and may sue and be sued. plead and be impleaded.
contract and be contracted with, and make ordinances, by-laws and ree.
ulations not in conflict with the laws of this state. or of the Unitee
States, for the government of all under its authority, for the manaze
iment of its business and the due and orderly conduct of its affairs.

2. For the organization of said company it shall not be necessary
that any capital stock shall be subscribed, but the corporation aforesaid.
or a majority of them represented either in person or by proxy, may.
after due notice, meet and organize at such time and place as a majority
may designate. The officers of the company shall be a president, vive
president, secretary and treasurer, and as many directors and agents a:
the company may deem necessary, all of whom shall be elected” or ap:
pointed in such manner and for such time as the by-laws of the company
shall prescribe.
3. The said company shall have power and authority to insure dwel-
lings, household and kitchen furniture, outbuildings, barns, stables, live
stock, grain and forage, farm implements, and other farm property, store-
houses and stocks of goods therein, water grist mills, churches and school
houses, and such other property as the directors may determine, in any
of the aforesaid counties against loss or losses caused by fire, wind and
lightning, or by any one or more of said causes, to an amount not ex-
ceeding in any case more than three-fourths of the estimated value of
the property Insured, upon such terms and conditions as the company
may provide by its by-laws: provided, that no policy shall issue until
the property offered for insurance shall aggregate in value the sum of
two hundred thousand dollars ($200,000).

4. The admission of new members, the withdrawal of any member,
the fees of membership, fees of officers and agents, the ways and means
of raising money to meet the contingent expenses of the company and
to pay any loss for which the company may be liable and the manner of
disbursing the same, shall be prescribed and regulated by the by-laws
of said company.

5. Every member of said company shall be bound to pay his or her
or their portion of all losses, fees of officers and agents and contingent
expenses accruing to said corporation when ascertained in the mode
prescribed by the by-laws; and to secure the payment thereof of all
buildings or other property insured by and with said corporation,
together with the right, title and interest of the assured to the lands on
which such buildings or other property may stand, shall be pledged to
the said corporation, and the said corporation shall have a lien thereon
against the assured, his or her heirs, representatives and assigns, during
the continuance of their insurance for his or her or their proportion of
all debts or habilities contracted or incurred by said corporation; and
proof of the mailing of the notice of assessment and the amount there-
of, by the officer of the company charged with that duty, shall be suffi-
cient proof of the service of notice of said assessment upon any member
so assessed, and of the time within which it is payable to the treasurer;
and if not paid within the time specified, the same may be recovered on
motion after ten days’ notice before any justice of the peace or any court
of record having jurisdiction in such cases.

6. The principal office of this company shall be located at Tappa-
hannock, Essex county, Virginia, but the same may be changed
to any other place in any of the said counties by a majority of the
directors.

7. The said company shall have the power and authority to acquire
and hold real estate in any or all of the said counties, not to exceed in
the aggregate ten acres.

8. That said company shall not be liable to any charge for the privi-
lege of transacting the business authorized by this act, inasmuch as said
company is purely a local association, not designed to accumulate profits
for the benefit of, or to pay dividends to the stockholders or members
thereof.

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