Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-05-01

and regulations for the government of the
Company and thatof their officers, SER
rants and affairs, as they shall from time
to time think expedient, not inconsistent
| with Law, on these articles of association
| and to use dispose of and employ the Joint
stock, funds or property Of the said COM
| pany (subjec ito therestrictions hereinafter
mentioned) as to them may seem expe-
dent.
.artick 7.
All policies, bonds, notes and every
contractand engagement, onbehalt Of the
Company, shall be signed by the Presi
dent and countersigned or attested by the
Secretary-and the funds of the compa-
ny shall in no casebe heldresponsib1e for
any contract or engagement, whatever,
unless the same shall be so signed and
countersigned or attested as aforesaid.
.articie s.
The said president and directors shall
have power to appoint Secretary and
all other Officers and servants for eyecut
ing the busine IS Of the Company aud to
establish the compensation to be paid to
the President, Secretary and ether OFF,
GERS and Servants of the Company re-
spectively, which with all other necessa-
~ expenses are to be betrayed out of the
funds of the Company.
.Art:cie 9.
Each Stock : der may at pleasure, sell
and transfer his stock or any part thereof,
not being less than one share, provided
the purchaser gives such security as is
prescribed to subscribers, for such part of
the Stock as may be uncalled for or unpaid,
and the said purchaser shall be entitled,
to all the rights which the previous pro-
prietor enjoyed; but all debts actually
due and payable to the Company, (days
Of grace for payment being past) by
Stakeholder requesting a transfer, must
be satisfied before such transfer shall be
made, unless the President and Direc-
tors shall direct to the contrary, aud it
is declared and agreed, that any Stock
holder, who shall transfer ali his stock or
shares on the books of the company to "a
ny other person or persons whatever.
shall thereupon cease tn be a member Of
this Company. and that any person or
persons whatever accepting a transfer OF
any Stock Or share in the Company. and
conforming to the stipulations incident to
4 stakeholder, shall thereupon become &
be a member of this Company according
to these articles Of association.
.frticle 10.
II is hereby expressly and explicitly
declared to be the object and intention Of
the persons who associate under the name
OF firm of the President and directors of
the Columbian Insurance Company Of
Alexandria. that the joint stock or pro-
perry of the said company, exclusive OF
dividends to be made in the manner here
after mentioned, shall alone be response
bic for the debts and engagements of re
SAID company, and that no person who
shall or may deal with this company, or
to whom they shall Or may become IN
debted in any wise, shall On any pre-
tence whatever have recourse against the
separate property of any present or fu
tuTe member Of this comnanv or against
their persons, excepting the officers and
servants of said company in regard to the
faithful discharge of their respective du-
ties n,the conduct of the affairs and adj
ministration of the funds of the company;
Dut all persons accepting any policy.
bond, bill or note or other instrument or
contract Of this company, signed by the
president and countersigned or attested
by the secretary of the company for the
time being, or dealing with it in any man
ner whatsoever. thereby respectively give
credit to the said joint stock or property
OF the said company, and thereby re-
spectively disavow having recourse on "a
ny pretence whatever to the person or
separate property of any present or fu-
ture member of this company excepting
as before mentioned). And all suits to
be brought against this company, shall be
brought against the President for the time
:eing, and in case of his death or reno
val frem Office pending any suit against
him, measures shall be taken at the ex-
pence of the company for substituting lis
successor in Office as defendant, so that
persons having demands on the company
may not be prejudiced Or delayed by that
event; or if the persons suing shall 90 on
against the person first named as defend
ant, Notwithstanding his death or reno
val from Office this company shall take
no advantage by writ of error Or other
wise, of such proceedings on that ac-
count. And all recovery had in manner