Chap. 40.—An ACT to amend and re-enaet the TOth section of an act en-
ed anaet to incorporate the Southern Protection Insurane Company
Alexandria, Virginia, passed Jauuary 3O, 1854,

Passed April 14, Tse%,

1. Be it enacted by the general assembly, That the tenth
section of an act to Incorporate the Southern protection insu-
rance company of Alexandria, Virginia, be amended and_re-
phar ted soas to read as tollows:

“9 10. This company shall issue no policy until application
for insurance shall be made to said company, the preminm
notes for which shall amount to twenty-five thousand dol-
lars. The company may receive money on deposit and grant
certificates therefor, in accordance with the conditions set
forth in sections tour and five, chapter fittv-nine of the Code
of Virginia; but in no ease are such deposites, or the certifi-
cates theretor, to be held hable to make good any policy of
Insurance Issued by this company, or any other contract made
by it; to borrow money and execute notes for the same.
Tie funds of this company, however derived, may be invested
in or lent out on any stock or real seeurity, or be used in
purchasing or discounting bonds, bills, notes or other paper:
provided that the rate of discount shall be one-half of one
per centum for thirty days, or such other rate as may be law-
ful at the time of the transaction: but the imterest may, in
any case, be paid in advance: and the said company shall
have power to purchase, or otherwise acquire, and to have
and to hold, and likewise to convey and to sell, any real or
personal estate for the purpose of securing any de bt or debts
that may be due to them.

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