Chap. 45.—An ACT to incorporate the Albemarle Home Mutual Fire
Insurance Company.

Approved January 8, 1875.

1. Be it enacted by the general assembly of Virginia, That
Nickolas M. Page, Michael W. Wallace, Philip Edge, Jere-
miah A. Early, Nathaniel C. McGee, Jerry M. White, Dr. S.
M. Shepherd, James H. Rea, John Grayson, and William N.
Lipscomb, and ali those who may be hereafter associated
with them in the manner hereinafter provided, and their
successors, be and they are hereby declared to be a body

olitic and corporate, by the name and style of Albemarle

ome Mutual Fire Insurance Company, and by that name
may sue and be sued, plead and be impleaded with, in all the
courts of law and equity in this commonwealth or elsewhere,
and have perpetual succession; to have, make and use a
common seal, and the same to break, alter or renew at plea-
sure; to ordain and publish such constitution, by-laws, ordi-
nances and regulations as they think proper and wise; and
generally to do every act and thing necessary to carry into
effect this act, or to promote the objects and designs of this
corporation: provided, that such constitution, by-laws, ordi-
nances, regulations or acts be not inconsistent with the laws
of this state or of the United States.

2. To make insurance upon dwelling houses, stores, and
all other buildings in town or country, and upon household
furniture, merchandize and other property, against loss or
damage by fire.

3. Phat Nickolas M. Page, Michael W. Wallace, Philip
Edge, Jeremiah A. Early, Nathaniel C. McGee, Jerry M.
White, Dr. S. M. Shepherd, James H. Rea, and John Gray-
son, shall be the directors of said company until othcrwise
appointed by the stockholders, of whom Nicholas M. Page
shall be president, and William H. Lipscomb secretary and
treasurer, and the said president, secretary and directors
shall ¢ontinue in office until their successors are elected. In
case of a vacancy in office of president, secretary or director,
from any cause, the remaining directors may elect others to
fill their places, and a meeting of the stockholders shall be
held. Five of said directors shall constitute a quorum for
any and all business purposes of said company.

4, There shall be an annual meeting of the company for
the election of officers and directors, at such time and place
as the stockholders in general meeting may appoint. The
president and secretary, elected by the stockholders at their
annual meeting, shall be president and secretary of the board
of directors, and the said president, secretary and directors.
shall continue in office until their successors are similarly
elected. At any meeting of said company, twenty-five mem-
bers, represented in person or by proxy, shall constitute a
quorum for business: provided, that at the annual meeting
of said company for the election of officers, a majority of the
members thereof, in person, or represented by proxy, shall
constitute a quorum for such meeting. In all meetings of
said company, each member shall be entitled to one vote for
the first one thousand dollars, or fractional part thereof, of
the amount in which the property of such member is in-
sured, and one vote for every additional one thousand dollars
of such amount: provided, that no member shall be allowed
a vote for any fractional part above the first one thousand
dollars.

5. All persons subscribing to this charter of incorporation,
and pledging themselves to be governed by any constitution,
by-laws, regulations or requirements adopted by said com-
pany, in pursuance thereof, their executors, administrators
and assigns, and vendees, continuing to be insured there-
with, shall thereby become members of said company, during
the time they shall remain insured therein, or until they
shall withdraw from the company in accordance with its
prescribed regulations.

5. The members of the company shall not be liable for any
loss, daniage or responsibility, other than that each member
shall be bound to contribute to the necessary expenses of the
company in proportion to the amount for which his property
is insured, and shall be bound to pay in the same proportion
to the proper officer of the company, the losses sustained by
fire by any fellow-member of the company.

7. Whenever a loss by fire is sustained by a member, the
president shall immediately convene the board of directors,
and upon proper and fall proof of such loss, shall thereupon
assess such pro rata sums upon all the members of said com-
pany as is necessary to pay all such loss, and collect from
each member, at such time or times and in such proportions
as it may be called for by said president and directors, and
if any member shall fail to pay the same so called for, it ma
be recovered upon motion, after twenty days’ notice in wri-
ting, in any court of record. |

8. This act sball be in force from its passage.