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

luC use u Which, are applied,
and their situation in relation to other build.
ings; they shall estimate their rate of hazard,
and certify the same in writing TO the Secreta-
ry. The Trustees may then issue, or refuse
to issue policy, at their discretion. The said
agents shall certify all losses, and relate the
origin of the fire, in order that the President
and Directors may ply the same. They shall
be judges in the first instance of all partial
damages, sustained by the insured under the
rules and regulations, prescribed TO the Trus-
tees, and shall be indemniied by the CoInpa-
ny, IN the SAME manner as the Trustees are,
for all things lawfully done and performed in
their official capacity, and shall receive such
compensation for their services, as the Presi-
dent and Directors may deem adequate.
ART. 8. No alterations in the terms of insur-
ance, shall be made, on account of a building S
being made more or less hazardous by means,
not under control of the insured.
ART. 10. There shall be a meeting of this
Company annually on the second Wednesday
of December, at their Office in Worcester at
six O'Clock P. NJ. Fifteen members, being
pre'ent, shall constitute quorum for doing
business. All questions shall be decided by
majority of votes, each member having as
many votes as he has policies, with the right
of voting by proxy.
AIT. /. A general meeting shall be cal
led b. the President and Directors on appica-
ton made to them in writing by twenty five
members. Notice Of such meeting shall be
given three weeks successfully in one or more
Newspapers, printed in Worcester.
ART. IL. Each Person, or Company, by its
sSent, upon execution of his, her, or their pol
i1.o l,T a.
delivered, shallpayto the Treasurer snch pre-
MUM, make such deposit, and give such col
lateral security for the payment Of all assess
iments, and debts due to the Company, as the
President and Directors shall from time to
time determine.
ART. 10. Each policy shall be for the term
Of seven years, and shall expire at 12 o'clock
at noon on the last day OF the said seven years
to be Computed from and after ~ O'Clock at
noon of the day on which the policy may be
dated.
ART. IA. Each person or campany insured
shall pay for each policy, transfer or indorse-
,lent duly executed, not exceeding one thou
sand five hundred dollars, one dollar for the
same above that sum, two dollars.
ART. IS. No policy shall embrace more
tIan one building, except when two or more
snail buildings stand contiguous to each other.
which do not together exceed the value of
$500, and except when a stable, coach
h,use or wood house stands on the same plat
o ground with the mansion house in which
else, the buildings must be distinctly valued.
ART. Is Not moro than three fourths ofthe
Y,lue Of any building shall be insured by this
COMPANY. and as much less as the insured
may choose.
ART. II. When buildings ensured shall be
alenated by sale, or any other means, the
Insured, his, her or their representative may
surrender his, her, or their policy or policies,
and receive sum, not exceeding his, her, or
tieir deposit money.
ART. Is. The absolute funds of this Com
p,ny shall be aud hereby are appropriated
a. follows, viz. lst. 10 pay all charges
2id. TO pay all losses, happening during the
elistenece of policies, provided the same
should exceed five per cent on sums insured,
unless it should be proved, that the insured
purposey burned the property, or neglected to
eMinguish the fire when burning-3d. 10 be
disposed OF agreeabiy to the provisions OF
the 18th article-4th. The residue OF said
funds shall be refunded to each member, his,
her ortheir heirs, at the expiration OF his, her,
or their policy or policies.
Arr. l9. The residue of the absolute fund,
not d,manded within one year from the ex-
piratitn OF the policy or policies; or the depos-
it myaey, not demanded within one year from
the time the said policy, or policies, shall be-
come void, shall be forfeited, and become the
property OF the Company.
ART. 20. In case OF neglect TO pay any
assessment, the delinquent's policy or policies
shall cease and determine, until payment
shall be made with interest, and such reasons
given for delay as shall be satisfactory to the
President and Directors.
Arr, 81. Each member, sustaining loss by
fire. saall certify the sum in Writing to some
one OF the Trustees as soon as may be and
before any repairs are made.
Ant. %. No policy shall be issued from
the Company's office to all agent Or attorney
until such agents or attorneys power be- en-
tered in the books OF the company, and the
original power be lodged with the Secretary,
paving therefor fee Of one dollar.
ART. %. Whenever 500 are received in
the office, the Treasurer shall deposit the
same in a bank within the County, in the
name of the President and Directors of the
Worcester Mutual Fire Insurance Company.
ART. "a. No person shall act as President,
Director or Treasurer in this Company, unless
he be a member thereof.
ART. %. The premium of insurance shall in
every case be paid in money, at the delivery
of the policy and the insured shall also Sc
cure, in such manner as the President and Di-
rectors shall prescribe, sum as a deposit e.
quail to four times the amount of such premi-
UNI, to meet such losses as many accrue to the
Company by the destruction Of any building
or buildings.
AARON TUFTS,
LEVI l, LINCOLN LIN ; Committee.
S. NJ. BURNSIDE,