The Perrysburg journal. [volume] (Perrysburg, Ohio) 1853-1861, 1857-06-18
LAWS OF 0HIO.
rrpLisHHp nl NrrHoRIrr.


auce Companies.
Src 1. Pc it enseted 10y the General Assembly
ot the State Of Ohio, That when any number o
persons, required by the FIRST section of the acl
cnttled an act to provide for the creation and
regulation Of incorporated companies ia the State
of Ohio" passed May tst, 1852, associate to forn
mutual fire insurance company, they shall under
their hands and seals make acertihcate, specify
ing the name assumed 10y such company, and 10y
which it shsll be known, the object for which said
comp my shall he formed, aud the place where the
principal Office Of said company shall be iocl ed;
which certificate shall lee acknowledged, certified
and forwarded 60 the Secretary of ate, and sha Il
be recorded and copied in the same manner as is
provided in the second section Of said act; and
said persons, when interpreted. are hereby au-
thorized to carry the business of insurance, as
named in such certificate OF Incorporation, and
by the name and style provided therein shall be
deemed body corporate, with succession; they
aud their associates, successors aud assigns to
have the same general corporate powers, and be
subject to all the obligations and restrictions of
said act, and of the acts ameLdltory and supple
Ineutary thereto except as herein provided
Sec. 3. 1t shall be lawful for any company or
ganized under this act, to insure houses, buildings
and other kinds Of property, against loss or dam
age by fire in tits State, whether the same shall
happen by accident lightning or any other means,
excepting that of design in the insured, or by in
vasiOn of enemy, or iusurrcctiOn OF the citizens
Of this or any of the United States, and generally
TO do and perform a other matters aud things
proper to promote these objects.
Sec. 3. That all and every person or parsons
who shall at any time become interested in such
company, by insuring therein, and also their re-
speciiye heirs, executors, adminisir rators and as
signs continuing to be insured therein, herein
after provided, shall be deemed aud taken to be
members thereof, for and during the terms speci
fed in their respective policies aud no longer, and
shall at all times be concluded and bound by the
provisions of this act
Sec A. That every person who shall become a
member of such company, by eiIecLing insurance
therein, shall, before he receives his policy, depos
it his promis s,ory note for such sum of money as
shall be determined by the directors part not
exceeding five per cent. of which said note shall
he Immediately paid, for the purpose OF diScharg
Jag the incidental expenses OF such company;
aud at the ex JratiOn OF the term OF insurance,
the said note, or such part thereof Of the same
shall remain unpaid, after doducting all losses
and expenses accruing during said terra, shall be
relinquIshcd and given up to the sigusf thereof
Sec. D. That every member OF such Unplny
shall be, and hereby is, b und aud OJlI-e 10 pay
his portion of ali losses and expenses Ia p ming
or accrung in and 10 such miuny to the ouut
of his deposit note; aud all buildings inSuc. 10y
and with said surance, together with the night,
tide and interest of the assured, TO the isuds On
which they stand, shall be pied yed to such com.
pany; aud such company shall have lien there.
ON against the insured during the continuance of
his, her or their policies
Sec 6, That il case Of any loss or damage by
IRE happening to any member upon properly in.
-
shall give notice thereof, in writing 10 the drec
tors, or some Of them, or tae ss-r-l.s OF such
company within thirty days from the tiua such
loss or dam ige may have happened; and the Di- /
fectois upon view of the same, or in such other
way sthey may deem proper, shall ascertain aud
uetsrmlne the amount Of said loss or damage, aud
- tne party suffering Is not satisfied with the de
termination ct the itectors, the question may toe
submitted TO referees. or the said larty may bring
',h action against snch company for the loss or
damage, provided sad ac ton shall b. commenced
Wllhn three months from SAID determination.
Ssc. 7. That the Directors shall after receiving |
notice OF any loss or dnag4 by fire, sus' ainsi by
any member, aud aseertaiu.'n ng the same, after
lhe rendition OF any jndgmei u against such com
pany for such LOSE or tlulge settle dcJCrusue
lne sums to be paid by the sevt raj members th"ie
Di as the respective portion oi such loss, aud
,u'lish t sRue IN such manner as they .ha' see
~ or as the by laws may presc ribe: and the suiu
DC aid BIZ each member shall always be IN pro
or lon to the original amount OF his deposit nbie
.potes, and shall be paid to the tire Isurer within
t.irty DAYS next after the Publication OF said no
tice and if any member shall, alter the space OF
thirty DAYS after the publication of said notice,
egect refuse to pay The sum ASSESSED upon
him, her, or them, aS his. her or Eeir proportion
Of any loss af1 esl!d, in such case the directors ,
may sue for aud recover the Hhoesemount Of HI.
her or their note or notes, with cuet Of SUIT; and
the money thus collected shall rsmaiu in the Jfeas
ury of such company subject to the Iymert of such
crue; and the baiauce, ii any remain, shall be res-
turned to the party from whom 1t wa, collected oa4
demand after thirty days from the expiratcn OF tls
term for which nsuraL"c was made.
Sec. 9. lhaI s",,n comPaLy may make iusur,
sncea io' lay term not exceeding five years, and
auy policy OF Insurance issued by such company,
sigued by the President aud cpunIersigned by lhe
Secretary shall be deemed valid and binding BY
such company in all cases where the assured ma
title, in fee simple uuincumbered, to the oul!d,
4 a.,l fal IL re.
by the same; but f the insured have a less estate
therein or if the premises be encumbered, the
policy shall be void, unless the true title OF the
insured aud the membranes OF the premises be
expressed therein and in the application therefor.
Sec. O. That the Directors shall settle aud pay
sill losses within three months after they shR'l
have been notified as aforesaid; but no allowance
is to be made, in estimating the damages IN ANY
case, for gliding, historical or landscape painting
stucco or carved work.
Sec TO- That when any house or other building
shall be aiienaed by sale or otherwise, the policy
shall thereupOn be void, and be surrendered to the
Directors of ch company TO be cancelled aud
upon such surrender the insured shall be entitled
TO receive his her or theiT deposit note npon the
payment Of his, her their proportion of al
losses and expenses that have accrued prior I,
such sure der; Provided. that the alenee gran
tee, having the policy assigned TO him. may haV
the same satisfied confirmed to him, her O
them, for his, her or their own proper use and ben
eft, upon application to the Directors, aud Will
lheir consent, within thirty days next after suc
alienation, on giving proper securi to the satia
facton of said directors fyr such portion of th
deposit or premium note as shall remain uupaid
and by such ratification and confirmation, th
marty causing the same shall be entitled to all th
rights and privileges and subject to all the iaoil
ties to which the original party insured was et
titled and subjected 10 under this act.
Sec. IL. That if any alteration shall be made
any house or building, by the proprirturs Ih=reo
after insurance has b5eG made thereon with SUE
company, whereby it may be exposed 10 great
r,sk or hazard from fire than it was at the time
was insured, thtn, and in every such case, the Il
surance made upon such house OF Uuitdns sha
be void unless an additional premium aud depu
1t note, after such alt ration, uc sei,lcd with a.
paid to the directors or lhrir agents; aud 1t
hereby made obligatory upon sad dir'c.ors
their agents, af.er due notice of said altcrati
ehall have been g,ven by said propre ors a,d ait
the sans shall have been accepted by said air,
tl.ir rpeutz a fix y,.tltOut tl.l4v Z