Chap. 871.—An ACT to incorporate the Mutual benefit insurance association of
Virginia,

Approved March 3, 120%,

1. Be it enacted by the general assembly of Virginia, That William R.
Blackmond, James L. Stultz, William B. Eanes, William D. Kirkwood
and C. L. Holt, or any five of them, their associates and successors, are
hereby constituted a body politic and corporate, by the name of the Mu-
tual benefit insurance association of Virginia, and by such name shall
have perpetual succession.

2. That the said association may contract and be contracted with, sue
and be sued, make and use acommon seal, which it may alter at its
pleasure.

3. That the said association shall be entitled to and shall receive the
protection of the grantor of this charter in all matters appertaining to said
association not inconsistent with the laws of this or any other state in the
United States.

4. The purposes for which this association is formed are to mutually
insure the dwelling houses, barns and other buildings, including stores
and warehouses and contents of the same, flouring, orist and saw mills;
also live stock, including horses, cattle, cows, sheep, mules and hogs,
and all other personal property, and so forth, of its members against loss
or damage by fire, wind or lightning, and upon such terms and condi-
tions as may be fixed by the by-laws of said association.

5. That the said association may make by-laws fixing the number of
its board of directors and other oflicers, and detining the powers and
duties of such directors and officers; also making rules and revulations
governing the association for the proper conduct of its business, not
inconsistent with the laws of this state or any other state in the United
States.

6. This association shall have the power to organize and create local
divisions in any one or more counties of this state, or any other state in
the United States, and such local divisions shall be governed by and
under the rules and regulations prescribed by the said association until
such a time as the strength and condition of the said local division or
divisions shall warrant to the said association that a separate jurisdiction
under this charter can be granted, at which time the said association or
its authorized officer may deliver to the said loca! division or divisions a
copy of this charter, duly signed by the said officer of this association,
specifying the cause and date of such delivery, and such delivery, made
in accordance with the provisions of this section, shall empower the ofli-
cers and members of said local divisions or division with such authority
in said local divisions or division as that granted by this charter to the
said association and nowise be exceeded.

7. That every member (policy holder) of said association, or local di-
vision wheresoever organized by said association, shall be bound to pay
his or her or their ratable proportion of all losses and expenses accruing
against said association or local division, and all buildings, or any other
kind of property, real or personal, insured under the provisions of this
charter, together with the right, title and interest of the assured in and
to the lands upon which such buildings or other property may stand,
shall be pledged to said association or local division wheresoever organ-
ized by said association, to cover the ratable proportion of the assured
of such losses and expenses as are hereinabove mentioned, if such there
shall be, and if any member or his, her, or their representative or repre-
sentatives on being notified by the authorized officer of said association
or local division wheresoever situated shall fail to pay his, her, or their
ratable proportion within the period prescribed by the by-laws of the
sald association or local division which he, she, or they may be a mem-
ber of the same shall be recovered in the corporate name of this associ-
ation by motion after ten days’ notice in the county or magistrate’s
court of the county wherein such member or his, her, or their represent-
ative or representatives reside: provided, however, that any member or
members of this association holding policies of insurance in any local
division organized and operating under the provisions of this charter
shall be responsible and hable only for such losses and expenses as may
occur and accrue within the contines of any such local division in which
said member or members hold policies of insurance, and beyond this
there shall be no lability against said member or members of any such
local division nor against the property embraced in their policies and in-
surance,

8. That all property insured under the charter of this association shall
be hable as herein provided until all outstanding losses and expenses
shall have been paid, and until the owner or owncrs thereof shall have
withdrawn said property from said association or local division in the
manner prescribed by the by-laws of said association or said division of
which the owner or owners thereof are members: provided, however,
that any transfer of such property shall operate as a release of the same
under the conditions set forth in this charter as to all subsequent liabill-
ties, unless the purchaser or purchasers thereof shall make application to
this association or its authorized oflicer within ten days from the date of
such transfer, in which event such purchaser or purchasers shall be sub-
stituted to all the rights of the vendor as set forth in this charter, and
the said property shall be held liable as herein provided, and the provi-
sions of this section shall apply as well to personal representatives and
guardians as to the purchaser or purchasers of such property.

9. That the principal office of this association shall be located in the
city of Roanoke, state of Virginia: provided, however, that the said
association may have such other branch offices in such other towns or
cities of this or any other state in the United States as may be necessary
for the proper and orderly conduct of its business.

10. ‘The capital stock of this association shall be not less than five
hundred nor more than ten thousand dollars, to be divided into shares
of the par value of ten dollars each.

11. The said association shall have the power to acquire and hold real
estate in the state of Virginia not to exceed in the aggregate one hundred
acres.

12. That the said association shall pay all taxes and other dues to the
state of Virginia in current money of the United States.

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