Chap. 314.—An ACT to incorporate the Home mutual insurance company
of Virginia.

Approved February 13, 1896.

1. Be it enacted by the general assembly of Virginia, That H. S.
Trout, R. H. Angell, P. L. Terry, Edward L. Stone, E. B. Jacobs. J. J.
Catogni and C. A. McHugh, together with such other persons as are,
or may hereafter become, associated with them, shall be, and are
hereby, constituted and made a body politic and corporate, by the
name and style of the Home mutual insurance company of Virginia,
and by that name and style shall have perpetual succession and
the right to sue and be sued, plead and be impleaded, defend and be
defended, in all courts, whether in law or in equity, and make and
have a common seal, and alter and renew same at their pleasure,
and shall have and enjoy all the rights, privileges and powers apper.
taining to corporate bodies and necessary to the purposes of this act.

2. The capital stock of this company shal! be not less than forty thou-
sand dollars, nor more than two hundred thousand dollars, divided
into shares of one hundred dollars each. The company shall have
power by its by-laws to provide the time and manner of the payment
of the capital stock, and whether the same shall be in periodical in-
stallments or otherwise.

3. The board of directors of said company shall be elected at the
annual meeting of the stockholders, and shall consist of such num-
ber (not less than five nor more than eleven), and serve for such
time as the by-laws shall ordain and provide. The president, secre-
tary, treasurer, manager and subordinate officers of the company
shall be appointed and shall serve for such times as the by-laws may
provide.

4. The said company shall ‘have power and authority to make con-
tracts and underwrite policies of insurance and indemnity against
fire on all buildings, goods, wares, merchandise and other property
liable to destruction or accident by or from fire, or the effects
thereof, situate, lying, being or deposited in this state or elsewhere,
at such rate of premium and upon such terms and conditions as may
be fixed by the by-laws or may be agreed upon by the duly consti-
tuted officers of the company. The said company shall have the
power and authority by its by-laws to provide for such participation
by its policy-holders in the profits of its insurance business as may
be deemed just and proper; and the company may purchase for its
own benefit any policy of insurance or other obligation growing out
of its business, and also any claims of policy-holders for profits.

5. The said company shall have the power and authority to invest
its capital stock, moneys, or other funds, in bank or other stocks, in
the purchase of bonds of this or any other state of the United
States, and the bonds of any incorporated company; to purchase
gold and silver coin or bullion, bills of exchange, notes, bonds, stocks
aud other evidences of debt; to purchase mortgages, deeds of trust,
bills of sale, assignments and pledges on property, real or personal ;
to lend money upon any real and personal security, at such times, in
such amounts and to guch persons, as it may deem beat, and to receive
the interest therefor, and to take proper deeds of trust or mortgages
to secure the same; and to sell, convey and encumber any property,
real or personal, owned by it.

6. The said company shall have power and authority to hold such
real estate as shall be necessary for the convenient conduct of its
business, and to purchase and sell such real estate as may be ac-
quired by it in the due course of its business; but it shall not hold
more than one million dollars’ worth of real estate at any one time.

7. The stockholders of said company shall! not be liable for any
loss, damage or rasponsibility beyond the amount of the stock sub-
scribed by them respectively ; and the policy-holders of said company
shall not be liable beyond the amount of the premium paid, or agreed
to be paid, by them.

8. The principal office of said company shall be located in the city of
Roanoke, Virginia, and the said company shall have the right to es-
tablish offices and advisory boards in any other county or cities of
the state of Virginia for the transaction of its business.

9. The general assembly of Virginia reserves the right to alter,
amend or repeal said charter at pleasure.

10. All taxes accruing to the state of Virginia under this charter
shall be paid in money, and not in coupons.

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