Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-05-03

Il 81 -
~ expenses are to be betrayed out OF the ne
funds Of the Company.
article 9. !,
Each Stakeholder may at pleasure, ser
| and transfer his stock or any part thereof
anet being less than one share, PROVIDE
the purchaser gives such security as IS
prescribed to subscribers, for such part OF
The Stock aslnay be uncalled for or unpaid,
and the said purchaser shall be emitted,
to all the rights which the previous pro-
prietor enjoyed; but all debts actually
due and PAYABLE to the Company, (days
ofgraec for payment being pasD by a
Stakeholder requesting a transfer, must
be satisfied before such transfer shall be
made, unless tile President and Dlrec-
tors shall direct to Gle contrary, and It
is declared and agreed, that any stock
holder, who shall transfer all his stock or
shares on the books of the company to a,
any other person or persons whatever
shall thereupon cease toJbe member OF
this Company, and that any person or
persons whatever accepting transfer OF
any Stock or share in the Company, and
conforming to the stipulatiens incident to
stockhoIder, shall the s.upon become &
he a member Of this Company according
to these articles Of association.
.arf;cte 10.
1t is hereby expressly and explicitly
declared to be tie 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-
perry of the said company, exclusive OF
dividends to be made in the manner here
after mentioned, shall alone beresPonsi-
bic for the t,ebts and engagements OF the
said company, and that no person who
shall or may'deaI with this company, or
to when 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 comnanyin regard to the
faithful discharge of their respective du-
ties in the conduct Of the affairs and ad-
ministration of the funds u the company;
but all persons accepting any policy,
bond, bill CT note o. other instrument or
contract of this company, signed by the
president arr countersigned or attested
by the secretary Of the company for the
time being, OF dealing with it in aay man
ner whatsoever, thereby respectively give
credit 10 the said joint stock or property
of the SAID company, and thereby re-
spectipely disayow having recourse or a
ny pretence whatever to the person or
seperate property OF any. present or fu-
ture member Of this company Excepting
| as before mentiqnedD. And all suits to
| be brought agsinStt this company, shall be
| brought against the President for the time
being, and in case Ct lis death or reiao-
| val from Office pending any suit against
hirp, measures Snail be taken at the ey-
pence of thecsmpaay for substituting h;s
successor IN office as deiendap1, so Shat
persons having demands on Tie company
! .nay not be prejldiced or delayed by that
| event; OF iftie persons suing shall go<on
| against the person first naTead as defend
ant, Notwithstanding ais death or reno
val from officc( this company shall take
no advantage by writ of error or other
wise, of such proceedings on that &C.
| count. And all recovery had in manner
aforesaid, SHALL be conclusive On thecom
! paay SO far as to render tie company's
said joint stock or property. liable there
| by and nofGrther, and the company shall
! Immediately pay the amount of such re-
coyerY cut of the ioint stock, but not o.
otherwise. And in case of any suit at law,
the president shall sign bis appearance on
The writ or Gle commoa bail thereto, it
being expressly understood and declared
that all persons dealing with said ceinFa-
| ny agree to these terms and are bound
thereby, and will NJ, require special bail
| from any person for and on account of "a
NJ claim or demand upon The sala COM
pany.
Article IL.
The President and Directors shall have
full power and authority to make lnsu-
| RANGES on vessels, cargoes, freight, or o.
ther property, to lead money or bottn-
| ry CT respondentia, and further to make
| assurances on houses, household farni-
ture, goods, wares and merchandise and
on any and every othes' description ct
property insurabIe against fire. And iof
the purpose of facilitating business, the
board OF Directors may anthorase the
President 70 class fhn directors in COM