Chap. 36.—An ACT to incorporate the Madison Home Mutual Fire
8 Insurance Company.

Approved February 4, 1876.

1. Beit enacted by the general assembly of Virginia, That
George Bouton, William Lovel, John C. Utz, Simeon Car-
penter, B. Thomas Yager, John J. Clore, R. Sidney Thomas,
and all those who may hereafter be associated with them in
the manner hereinafter provided, and their successors, be and
they are hereby declared to be a body politic and corporate,
by the name and style of Madison Home Mutual Fire Insur-
ance Company, and by that name may sue and be sued, plead
and be impleaded within all the courts of law and equity in
this tommonwealth or elsewhere, and have perpetual suc-
cession; to have, make and use a common seal, and the same
to break, alter or renew at pleasure; to ordain and publish
such constitution, by-laws, ordinances 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 pro-
mote the objects and designs of this corporation: provided,
that such constitution, by-laws, ordinances, 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, merchandise apd other property, against loss or
damage by fire. |

3. That George Bouton, William Lovel, John C. Utz, Sim-
eon Carpenter, B. Thomas Yager, John J. Clore, R. Sidney
Thomas, shall be the directors of said company until other-
wise appointed by the stockholders, of whom George Bouton
shall be president, and R. Sidney Thomas secretary and
treasurer; and the said president, secretary and directors
shall continue in office until their successors are elected.
In case of a vacancy in the 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 al] 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 dol-
lars 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 therewith,
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 pre-
scribed regulations: provided, that the subscription of any
person subscribing to this charter shall act as a lien on his
realty, to secure the payment of any assessment that may
be made upon him whilst a member of the company, and in
case of a prior lien, by the owner, trustee and beneficiary
signing the charter, &c., the company’s lien shall take prece-

ence.

6. The members of the company shall not be liable for any
loss, damage or respoasibility, 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 pro-
perty is insured, and shall be bound to pay in the same pro-
portion to the proper officer of the Zompany the losses sus-
tained 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 full proof of such loss, shall thereupon
assess such pro rata sums upon all the members of said com-
pany as are necessary to pay all such loss, and collect from
each member, at such time or times and in such proportions
as may be called for by said president and directors; and if
any member shall fail to pay the same so called for, it may
be recovered upon motion, after twenty days’ notice in writ-
ing in any court of record.

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