Ypsilanti sentinel. [volume] (Ypsilanti, Washtenaw Co., Mich.) 1843-1900, 1844-05-09


Of Detroit, TO vote upon any question
which may arise at sach mee,ing,by proxy.
or attorney duly constituted and said
proxy or attorney shall be Direc tor for
the time being. essen go Ell
Sec. 6. That subscription books shall
be opened, on or before the first Montay
in July next, by and under the superin-
tendehce Of Benjamin B. KerchevaI, Zion
Farnsworih, Douglass Houghton, Ian.
sing B. Mizner, and Wesley Truesdai as
Commissioners, at such time and place as
they shall designate. giving the due notice
thereof, IN mt least two Of the newspapers
published in this state, for receiving sub
scrip,ions to the stock ia said Company
or application for insurance in The same.
the said books shall! remain open, daily,
| for three weeks. unless the amount of the
capital stock shall be sooner subscribed.
Sec. 7. That, at the expiration ofthrce
weeks. the said Commissioners, or a ma
joriiy of them, shall, after they have re-
ceired applications Coz stock and insur-
ance in said Company. the payment for
which in cash shall amount TO S. 600, or
upwards, call a meeting of the said Stock
holders, for The election of the aforesaid
Directors. They shall give thirty day S
notice, in two newspapers published in
this State, Of the sasd election.
Sec. 6. That the Directors so elected,
or any seven Of hem, including the Presi-
dent or Vice President, shall, immediately
thereafter, proceed TO organize the said
Company, and to transact the business of
the same. They shall at their first meet
Ing for the organization Of said Company,
divide themselves, by lot, into three class
es Of five each /; the term of The frs, class
shall expire at the end of one year; the
term of the secoad class shall expire Of
The end Of two years the term Of the
third class shall expire at the end ofthree
years, and their successors shall hold
their Offices respectively Tor three years.
The vacancies which may be occasioned
by death or other causes, shall be filled
by the remaining Directors, plurality OF
votes constituting choice, and this Sec
lion shall not be so construed as n rem
der Director, whose term shall have
expired, ineligible as new Director.
Sec. 9 That thirty days notice shall
be given of each annual election of Direc-
tors, and of three inspe ciors to hold the
next election, by advertisement published
In some paper in the city of Detroit and
if it shall so happen that any election is
not held on the day prescribed or desig.
mated, the corporation shall not be dissol-
we'd, bat such election may be held on
any subsequent day thirty days notice
being previously given, as before provided
of the time and place Of such election.
Sec. 10. That the President and d.
rectors of said Company shall have pow
er and authority in The name and behalf
of said Company. 10 grant policies of in.
surance tor such term or terms of time.
aud for such premium or consideration
and under such notifications or restric
ton as may be agreed upon between the
SAID Company and the applicants forsuch
insurance the policies so granted, snail
be signed by the President or Vice Presi.
dent, and couniersigued by the Secretary
and bear the seal of said Company i'm |
pressed thereon; and all such premiums
or considerations shall be paid in cash. !
Sec. IL. That the President and Di.
rectors oil said Company may adopt
seal, and the same change or al.
Ter a, pleasure. and may enact such rules
md bye. laws for the government Of thei.
as they may from time 10 time
lcen advisable Provided, That such
,ye-iaws are not in violation of, or con-
rary to the provisions of this act.
Sec. IL. That any individual or COM
any. paying 10 said company, either for
I
,surancc, or in advance for insurance.
10 sum of twenty-five dollars, shall be
ntilIed to certificate for one share of
ornament stock, and that in proportion a
"a greater or less sum. until the amount Z
shares so taken shall amount to two q
undred after which number of shares I
hall have been taken, the payment, as {
foresaid, offifiy dollars shall be required S
en.itle any person to a certificate for f
ne share Of permanent stock and in that q
9aAlI 81 .rnl.Gesn ~ rassaa-s ada "A 49,