Jenks's Portland gazette. [volume] (Portland [Me.]) 1799-1802, 1800-03-10
DEE euaasdby tie Srnaie and HoYts

de Il ena7sdbyt bs Senate and HoEf
oee'' Il ID of Representatives., IN General
Court a1fmJled, and BY The autbsrit, Of '6e Jswe
That Hugh McLellan, and Others, and all
'iuch pcrfons as have already, or hereafter hall
become Stockholders in faid Company, being
Citizens of the United States, be, and hereby
are incorporated into Company and Body
Polite, by the name of the Maine Fire and
Marine Infurance Company, for and during
the term of twenty years after the Paiiing OF
This A. and by that name may ffe and be fli-
ed, plead, or be implicated, appear, proiecnte
and defend, to final Judgment and execution,
and have a common zeal, which they may alter
at pleafure, and may purchaie, hold, and con-
yey, any eftate real or perfonal, for the ufe of
Ia Company. tubjeSt TO the restrictions herein
after mentioned.
Sec. 4. Be it further ess5ed. That Ahare in
the capital flock Of the (aid Company ihal be
one bsndred doilny, and the number OF ihares
HALL not be lefs than one thoufand, nor more
than tx thoufand. And if the faid number of
flares are not already filed, fnbfcriplions nall
be kept open, under the infpeaion OF the Pref
ident and Directors Of the faid Company, until
she fame nall be filed and the whole capital
Cock, eaate, or properly, which the 1aid Com
pany ihall be authorized to hold, fhsll never
exceed fix hundred ibcsfsnd dayars, executive of
premium notes, or profits, ari6ng from faid
tbu6nefs; of which capital aock or property,
ssuenty tboaEmd dsgsu only ihsll be inveited in
real eftate.
Sec. 8. Be Il further esaHed That the flock,
property, affairs, and concerns, of the faid Com.
pany, hall be managed and conducted by nine
Directors, one of whom fhall be the Preldens
thereof who fhall hold their Offices for one
year. and until Others hall be chofen, and no
longer which Directors ihal, at the time of
their election, be Stockholders aud Citizens of
this Commonwealth, and fhall be elected on
the 6rf Tuefdayip January, in each and every
year, at fuch times of the day, and at f,ch
place in the town Of Portland, as majority OF
the Directors. for the time being, fhal appoint,
of which election public notice ihall be given,
in at ieaf two of the newspapers printed in the
town of Portland, and continued for the fpacc
of twenty days Immediately preceding iuch
election. And fuch election hal be holden
spnder The infpetiion of three Stockholders, NOT
being Directors, to be appointed previous to
every election by the Directors, and fhall be
made by ballot, by majority Of votes of the
Stockholders prefent, allowing one vote to each
,lhare in the capital fock P,ooidea, that no
Stakeholder fhall be allowed more than thirty
votes. And the Stockholders not prefent, may
vote by proxy, under faeh regulations, as the
,faid Company ihall prcfcribc. And in cafe of
any unavoidable accident, the laid Directors
fhould not be chofen on the faid frf 1'uefday
in January, as aforefaid, it hall be lawful to
choofe them on another day, in manner herein
prefcribed. e
p Sec. 4. Bsa further enased, That the Direc-
tors 10 choien fhall meet as foon as may be af
ter every election, and ihall chooie out OF their
body one perfon to be Preident, who fhall pre-
fde for one year, and be fworn faithfully to
difcharge the duties Of his Office and in cafe
of the death, resignation, OF inability to ierve,
of the PreGdent, or any Director, fuch vacancy
or vacancies ihall be filled, for the remainder
of the year in which they may happen, by a
fpecial election for that purpolc, to be held in
the fame manner, as is herein before directed,
respecting annual elections for Directors and
PreGdcnt.
Sec. 5. Bsi{wibsr raa7sd, That the Pref
dent and four of the Directors, (or five of the
Directors In the abience of the PIefident) lhal
be board competent to tranaa buGnefs; and
all queitions before them ihall be decided by a
majority of votes and they ihall have power
TO make and prelcribe lnch bye laws, rules, and
regulations, as TO them ihal appear needful and
proper, touching the management and difpof-
ton of she fock, property eliate, and effects of
taid Company, and The transfer OF the flares,
and touching the duties and cenduef OF the
ieveral officers, clerks and ieryants employed,
and the election of Drei'rs, and all foch mat
tiers as appcrtain 10 the bu6nels of ipiurance .
and ihall alto have power TO appoint Srcrcta.
~, and 20 many Clerks and Servants, for car
ryirg on The faid buGnef., and with lueh fala
ries and allowances TO them, and 10 the Preii-
dent, as TO TIE iaid Board fhall feem meet -
Previdtd, that iuch bye laws, rules and regula.