Chap. 232.—Au ACT to amend anid re-enact an act to incorporate the
Portsmouth Insurance Company, passed February f7, 1852.

Approved March 3, 1879.

1. Be it enected by the general assembly of Viryinia, That
the third section of an act entitled an act to imecorporate the
Portsmouth insurance company, passe] February seventeenth.
eighteen hundred and fifty-two, be amended and re-enacted so
as to read as follows:

) 3. The president and directors of the said company shall
have full power and authority to mivke insurance against all
kinds of marine risks, against any damage or loss by fire, or
other liability, casualty or hazard incident to any and every
kind of property, whether real, personal or wnixed ; to make in-
surance on lives; to grant annuities; to receive endowments ;
to contract for revisionary payments; to guarantec the payment
of promissory notes, bills of exchange, or other evidence of
debt, and to make all kinds of contracts in which the casualties
of life are involved; to lend money on bottomry and respon-
dentia, and otherwise provide for the investment of the funds
of the company; to receive money on deposit, grant certificates
therefor, and pay interest thereon, as may apppear most advan-
tageous aud beneficial to the stockholders; but in no case are
such deposits or certificates therefor to be held liable to make
good any policy of insurance issued by this company, or any
other contract made by it: provided that nothing in this act
shall be construed to authorize the said company to issue and
put into circulation any negotiable note or notes, in the nature
of a bank note, or to authorize them to make any contract
whieh, by the existing Jaws, amounts to usury: provided, how-
ever, that the said campany shall not receive or pay out any
notes under the denomination of five doljlars issued by banks,
corporations or companies out of this state, or the notes of in-
dividuals, and the charter of said company. by any violation of
this provision, shall be forfeited, and siall ipso facto cease and
determine.

2. This act shall be in foree from its pasysave.