Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-05-02

~ expenses are to be betrayed out Of the
Funds Of the COMPANY.
.articJe g.
Each Stockholder may at pleasure, sell
and transfer his stock or any part thereof,
| not being less than one share, provided
| the purchaser gives such security ass = 5
! prescribed to subscribers. for such part OF
the stock as may beuncalled 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 a
STOCKHOLDERS requesting transfer, must
be satisfied before such transfer shall be
made, unless the President and Direc-
tors shall direct to the contrary, and IT
IS declared and agreed, that any Stock
lholder. who shall transfer all his stock or
shares on the books of the company to a
nv other person or persons whatever,
shall thercupon cease to be a l.Finber OF
this Company, and that any person or
persons whatever accepting transfer OF
| any Stock or share in the Company, and
confirming to the stipulations incident to
a stakeholder, shall thereupon become u
be member Of this Company according
Ito these articles Of association.
$ Article 10.
It's hereby expressly and explicitly
declared to be the object and intention OF
| the persons who associate under the name
or firm of the President and directors OF
the Columbian Insurance Company OF
Alexandra, that the joint stock or pro-
perty 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 the
said company, and that no person who
shall or NAV denl VITA 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
seperate property of any present or fu-
ture member of this company or against
their persons, excepting the officers and
servants of said company in regard to the
faithful discharge of their respective du-'
ties in The conduct of the affairs and ad-
| n,inistration Of the funds of the company;
but 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 til any man
ner whatsoever, thereby respectively give
| credit to the said joint stock or property
| of the said COMPANY, and thereby re-
spectively disavcw having recourse on a
ny pretehce whatever to the person or
seperate properly of any present or fur
ture member of this comnany excepting
| as before r,ertioned). And all suits to
be brought against tbs company, shall be
! brought against the President fcrthe time
being, and in case OF his death or reno.
| val from Office pending any suit against
him, measures shall be taken at the ex-
| pence of the company for substituting his
successor in office as defendant, so that
persons having demands on The company
may not be prejndiced or delayed by THAT
| event Or if tie persons suing shall 60 on
against the person first named as defen,
| ant, Notwithstanding his deatF.or reno
val from ofice) this company shall take
no advantage by writ Of error or otner-
| wise, of such proceedings on that ac
| count. And ali recovery had in manner
aforesaid, shall be conclusive on thecom.
pany so far as to render the company's
said Joint stock or praperty liable there
! BY and no further, and the company shall
immediately pay the amount of such re-
! covery on. Of the Joint stock, but not o.
! therwise. And in case Of any suit at law.
| the president shall sign his appearance on
the writ or file common bail thereto, it
being expressly understood and declared
THAT all persons dealing with said compa-
| ny agree to THESE terms and are bound
thereby, and will not require special bail
from any person for and on account OF a
iny claim or demand upon the said COM
| pany.
| .frticls II.
The President and Directors shall have
fnlkpower and authority to make lnsu-
1 RANGES on vessels, cargoes, freight, or O.
ther property, to lend money on bottm-
| ~ or respondentia, and further to make
| lnsprances on houses, household furnias
| tuse. goods, wares ard merchandise and
on any and every other description Of
property insurable against fire. And for
the purpose OF facilitating business, the,
board Of Directors may authorize the
Il ~ II