Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1851-02-17
ANAcr no INCORPORATES
FARMERS MaqUlL Insurance. co.


of Forage County.
SIC. 4. Be Il enacted 6y the General
Assen5ly Of the State Of Ohio, That Da-
vid McIntosh, Greenbury Keen, Eli Booth, |
Alyah TIDAL, Samuel s. Spicer. Moses Bun
DIV, ir, Caleb A.water, Geo. w Hinekey,
Lewis E. Booth. NJ. Everett Francis, Leve.
rett Norton, Albert Austin. and all other
persons who may hereafter become mem
bers Of said Company in the manner herein
prescribed, be, and they are hereby incor-
porated and made body polite, BY the
name OF the |" Farmers's Mutual 'Insu-
rance Company of Portage County," TO:
the purpose of .insuring their respective
dwelling houses, out houses, barns and
other buildings, household furniture, hay,
grain and other property, against loss or
damage, whether the same shall happen BY
accident. lightning, or any other means,
except that Of design in the insured, or BY
the invasion Of an enemy, or insurrection OF
this or any Of the United States, and by
that name may sue and be sued, appear,
prosecute and defend in any Court of re-
cord, or other place whatever; may have
and use common seal; may purchase and
hold such real and personal estate as may
be necessary to effect the objects of their
association and the same may sell and con-
Yev at pleasure; NAV make and enforce
such bylaws and resolutions, not beng
contrary to the laws Of this State, as may be
necessary or convenient for their govern
ment and the management of their affairs
and to do and perform all such other acts
and things as be necessary to carry into
effect the purposes intended by this grant
SEC. 2. All persons who shall hereafter
insure with the said corporation, and also
their respective heirs. executors, admins
traitors and assigns, continuing to beinsured
in said corporation, as is hereinafter pro-
: yided. shall hereby become members there
Of during the period they shall remain in
sured by sid corr oration and no longer.
SEC. 3. The affairs of said Company
shall be managed by Board of Directors
consisting Of not more than nine, nor less
than FIVE members, as hereinafter provided
all vacancies happening in said Boaro
may be filed by the remaining Directors
for the remainder of the term for which
they were elected, and majority of the
whole shall constitute q quorum for the
tTansaclioa of business.
8 SEs. 4. The persons first named in thi'
act shall be the first Directors of said Com
rany, uho shall continue in Office unit
their successors are elected and qualified
which Board of Directors shall hereafter
be elected at such time and place in the
County of Portage as the corporation in
their bylaws shall appoint; of which elec.
ton public notice shall be given by the
President Secretary, or one or more of the
Directors, in some newspaper of general
circulation in said County, at least thirty
days Immediately preceding such election
such election shall be by ballot and ma
iority OF the votes given by the members
present shall govern, but no person shall
be eligible to the cffice of Director who is
not at the time of his election stockholde,
in said corporation. The Directors shall
have power to appoint all necessary officers
to5carry on the affairs of said Company.
SEC. S. That every person who shall be-
come member of said Company by effect
ing insurance therein, shall. before a policy
10 Issued, pay such sum of money as shall
Be determined by the Directors for the
purpose Of discharging the incidental ex
pesses of said Company, and also to create
q fund to pay losse s that may occur in sale
Company they shall also deposite pro
missory note for such sum of money a.
shall be determined by the Directors; the
said note shall be payable in part or the
whole, when the Directors shall deem the
same requisite for the payment of losses
but no assessment shall be made except the
same shall be necessary for the payment o
actual losses which shall or may occur il
said Company.
SEC. 6. That whenever any loss or dam
sge shall happen to property insured ii
said Company, the members who have hac
their property destroyed or damaged, shall
give notice thereof in writing to the Direc
tors, or any one of them, or to the Secre
tary of said Company, within thirty day.
from the time such loss or damage may
have happened; and the Directors, upon
view of the same, or in such other name
as they may prescribe, shall ascertain ant
determine the amount of said loss or dam
age; and if the party suffering is not salts
led with the determination Of the Direc
tors, the question may be submitted to re
fepees, or the party suffering may bring al
action against said Company to recove
said loss or damage; but if upon the tria
Of said action the plaintiff shall not recove
agreater sum than the amount determined
upon by the Directors, he shall pay all cost
accruing from said action, and shall only
have Judgment against the Company fol
the amount which shall be assessed on tht
trial of the same. $3.50 @
SEC. Z. When any property insured BY
this Corporation shall be alienated by sale
Or otherwise, the policy thefeupon shall bt
void, and be surrendered to the Director.
ofsaid Company, TO be cancelled; but The
grantee or the alienee having the policy
assigned to him may have the same ratified
and confirmed to him for his own prope1
use and benefit, upon application to th'
Directors, and with their consent, or tht
consent of such persons as they may au
thorize, within thirty days, next after sucl
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