Massachusetts spy and Worcester advertiser. [volume] ([Worcester, Mass.]) 1823-1825, 1823-11-12

this meeting be adjourned to Wednesday the
10th day of December next, at o'clock, PM.
to meet at the Court House.
ISAAC GOODWIN, Secretary.
Worcester, Nov. 12, 1928.
REPORT.
We the Subscribers, owners of buildings
within the County of Worcester, anticipating
the advantages, which may arise to us from
having our houses and other buildings secured
against fire upon the only just principles of
insurance and as an Act of the General
Court has been passed, incorporating Com
pany by the name of the C Worcester Mutual
Fire Insurance Company and which provides
that funds shall be raised from among the
members, to be distributed among those.
whose houses or other buildings should be con-
sumed OF injured by fire, originating in any
cause, except that of design in the Insured
do hereby subscribe our names as members of
the same, and do bind ourselves, our heirs and
assigns to observe the following articles. and
such other rules as may be adopted by the
said Company.
ARTICLE l. Each person, or Company, by
its agent, insured in this Society, shall be con-
sidered a member thereof, and shall be holden
to pay such losses, and be entitled to SUCH
benefits as are expressed in this agreement.
ART. 2. The power of this Company shall
be vested in President, Treasurer, and eigh
Directors, who shall be chosen by ballot at tn.
annual meetings, for the term of one year, AMI
until others are chosen in their stead
ART. 8. The Pesident and Directors shall
.al kho
Company, and shall have the management
and direction of all matters and things, not
otherwise provided for in these regulations.
They shall have power also, and it shall be
their duty to appoint Secretary, Clerk or
Clerks, and to compensate them for their SER
vices; to hire an office in such place, upon
such terms, and to furish it with stationary and
such furniture, as they shall think proper; TO
receive all the monies and the same. to invest,
according to the act of Incorporation ito re-
ward such persons as may distinguish them
selves by extraordinary exertions or services
in distinguishing fires ito offer premiums for
the encouragement of vigilance and activity,
prov ided no sum thus given shall exceed ten
dollars.-They shall keep fair records of all
their transactions, and the same shall be open
to all the members of the Company during of
fee hours ;-and shall, at each annual meet
ing, report to said Company, correct state
ment of all their funds; they shall meet like
wise at the Company's office on the first Mon
day of each month, at six of the clock, P. NJ.
and at such other times, as they shall judge
necessary. Five members shall constitute a
quorum for business, and in case that num-
Der should not assemble, the Secretary shall
adjourn the meeting from day to day, or from
week to week, and shall notify the President
and Directors accordingly.
ART. A. All policies, which may issue from
this Company to cover property previously in
sured, shall be ipsO factO void, unless such pre-
vious insurance be Endorsed on the policy at
the time it Issues; and when a subsequent in
surance shall be ,uade by any other Company,
or by any person CO property insured in this
Office, it shall dpsO facto annul the policy, and
the premium be forfeited to this Company.
Also, when the insured Shall alter or enlarge
a building, or appropriate it to other purposes
than those, mentioned in the policy, the same
shall, tpsO factO, become void But in case
the insured shall, within sixty days, after such
alterations, enlargement, or different appro-
priaton, give notice thereof to the Secretary,
the Trustees may renew the policy upon such
IL
newed, the insured shall have the benefit of
sum, not exceeding his premium and deposit
money, but if not renewed, then sum not ex-
ceeding his deposit money only, subject how
ever in both cases, to the expenses and losses
of this Company.
ART. 5. When any mansion house, or other
building shall be alienated by sale or other
wise, the policy shall thereupon, be ipso facto
void; but the grantee, or alienee, having
the policy assigned to him, by the insured, up
on application to the Secretary, within thirty
days, may with the consent Of the Trustees
for the time being, have the policy renewed,
upon becoming responsible for the payment Of
his, her, or their proportion Of the conditional
funds land by such renewal, the person, or
persons causing the same, shall be entitled to
all the rights and privileges, to which he
original insured was entitled under the same
policy; and in case application and renewal
shall not be made as aforesaid, the insured
shall be entitled to receive sum, not exceed
ing his, her, or their deposit money.
ART. 6. The President and Directors shall
receive for their personal attendance at every
monthly, special, or adjourned meeting, one
dollar each, and shall pay fine Of one dollar
for non-attendance, except reasonable ex-
cuse shall he offered to the board Tor absence
and the Secretary shall keep an accurate &C
count of the attendance of the President and
each Director. The said President and Dl-
rectors shall also DO allowed one dollar each
for every ten rifles travel to and from the place
Of said meetings.
ART. 7. There shall be three Trustees,
chosen by the President and Directors from
their own members, who shall be Unidentified
by the company for all things lawfully done
and performed in their official capacity, amp
shall be compensated for their services at the
discretion OF the President and Directors
They shall have power, and it shall be their
duty to rate the buildings; TO Gx the premi-
ums, payable by the persons insured, and to
refuse insurance upon any building at their