Chap. 479.—An ACT to incorporate the Grayson county farmers mutual benev-
olent fire insurance company.

Approved February 24, 1896.

Whereas it is represented that a number of citizens of Grayson
county are desirous of forming themselves into a benevolent asso.
ciation or company for the purpose of giving aid and assistance to
each other in cases of loss by fire and lightning; therefore,

1. Be it enacted by the general assembly of Virginia, That El:
Hale, John M. McLean, Hardin Cox, James D. Perkins, George W.
Gilham, and such other persons as are now or may hereafter become
associated with them, be, and they are hereby, created a body politic
and corporate by the name of the Grayson county farmers mutual
benevolent fire insurance company, and by that name are to have
perpetual succession and a common seal, which it may alter or
renew at its pleasure, and may sue and be sued, plead and be im-
pleaded, contract and be contracted with, and make ordinances, by-
laws, and regulations consistent with the laws of this state or the
United States for the government of all under its authority, for the
management of its business, and the due and orderly conduct of its
affairs.

2. For the organization of said company it shall not be necessary
that any capital stock shall be subscribed, but the corporation afore-
said and such other persons as may consent in writing may meet
and organize at such time and place asa majority of them may
designate, of which reasonable notice shall be given in some news-
paper published at Independence, Virginia. The officers of the
company shall be a president, vice-president, secretary, and as many
directors as the company may deem necessary, all of whom shall be
elected or appointed in such manner and for such time as the com-
pany shall prescribe. The fees of the membership, the ways and
means of raising money to meet the contingent expenses of the com-
pany, apart from the losses by fire or lightning, the admission of
new members, as well as the withdrawal and expulsion of any mem-
bers, shall be prescribed and regulated by the by-laws of the said
company.

3. The said company shall have power to insure its members wh»
may own property in Grayson and Carroll! counties, Virginia, against
loss or losses by fire and lightning to an amount not exceeding in
any case more than three-fourths of the estimated value of the prop-
erty Insured; and in order to enable it to raise the means of paying
its liabilities, it shall be the duty of the board of directors, as soon
as may be after the happening of the fire or lightning for which the
company may be responsible for the losses and injury occasioned
thereby, to assemble together and make such assessment upon each
individual member of the company as the by-laws may authorize
and provide for, which said assessment shall be paid by such mem-
ber within forty days from the time of its being levied, and if any
member, or his representative, on being notified by the said company,
shall fail to pay his assessment within the period aforesaid the same
may be recovered in the corporate name of the company by motion,
after ten days’ notice, in the county or magisterial court of the
county where such member or his representative resides. Proof of
the mailing of the notice of assessment by the officer of the company
charged with that duty shall be sufficient proof of the service of
notice of said assessment upon any member so assessed.

4. The general assembly of Virginia reserves the right to alter,
amend and repeal this charter at pleasure.

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