Preble County Democrat. [volume] (Eaton, Ohio) 1857-1859, 1857-05-14

prcdicatcd upon property to be insured,
and shall not exceed twenty per cent. Of
the amount sought to be so insured
and in addition, thereto, such company
shall be in actual possession Of at least
two thousand five hundred dollars in
money
Sec Is. The affairs of any company
organized under this act shall be man
aged by not more than nine nor less
than five directors, all of whom shall be
members. Within one month after the
certifcate of incorporation shall have
! been filed, the persons named therein,
or any of them, shall, in some news
paper of general circulation, be pub
lished in the county where the principal
Office Of the company shall be kept, give
notice of the time and place for holding
a meeting for the election of directors,
and the election shall be made by the
certifers thereof attending for such pur-
pose, either personally or by proxy, and
I the directors then and there elected
shall continue in Office until the first
Monday of January thereafter, and until
others shall have been chosen to succeed
them in the trust and shall have ac-
cepted the same.
SEC 16. The annual meeting for
the. election of directors shall be on the
first Monday of January, all elections
shall be by ballot, each member shall be
entitled to one vote either in person or
by proxy, and plurality of votes shall
be necessary for choice. f,t
SEC. II The directors shall choose
by ballot president from their number,
; ehon oil hot
arise in the board or in the presidency
thereof; they shall have power to ap-
point a treasurer and secretary, and any
other officers or agents necessary for
) transacting the business of the company
paying such salaries and taking such
security as they may judge reasonable; !;
they may ordain and establish bylaws
and regu!ations not inconsistent with
this eact or with the constitution and
laws of this State and Of the United
States, as shall appear to them necessary
for regulating and conducting the bust
ness of the company and it shall be
their duty to keep full and correct en-
tries of their transactions which shall
, at all times be open to .iIe inspection of
the members.
SEC IS. 1t shall be the duty Of
every such company, in the month of
January in each year after its organiza-
ton, to file in the Office of the Auditor
of State a statement under the oath Of
the president and secretary, showing
FIRsT-The name and locality ofsuch
company. -l.-sE
SEcoND-The amount of cash on hand
belonging to it. -...
THIRD-The amount of its valuable
bona-fide premium notes.
i FoURrH-The assets of the company,
including its real estate unincumbered,
the bonds, if any, owned by the COM
pany, and how they are secured, with
the rates or interest, debts to the com
pany secured by mortgage, debts other
wise secured, and all other securities,
assets and property.
F1rTH-The number of its uncxpired
policies.
sIxru-Thc amount of property in
sured.
SEvENTH-The greatest amount al
lowed by the rules of the company to
be insured in any one risk.
EIGHrH-Thc greatest amount al
lowed to be insured in any one city,
town or. village. z4ssrs.E
! NINTu-The greatest amount allowed
to be insured in any one block. .
TENTH - The amount of liabilities
due or not due to banks Or other credi-
tors by the company. -t-- c-..
ELEvENTH-Losses adjusted an d due.
TwELFTH-Losses djusted and not
, due. r7ma ..> af
! THIRTEENTH Losses in suspense
waiting further proof. @HI % .".-
FOURTEENTH - All other claims
against the company. a9h
SEC 10. 1t shall be the duty of
every such company to cause copy of
such statement, so verified as aforesaid,
certified to be u true copy by the Audi
tor of State, to be published in some
daily, newspaper of general circulation
in this State, printed in the cities of
Columbus, Cleveland, or Cincinnati, one
week; or in some weekly newspaper of
general circulation in this State, printed
in any of the aforesaid cities, three con-
! secutive weeks, which fact shall be yeri-
fed by the oath of the printer, or other
person knowing the fact of such publ
| cation and such company shall forth
with furnish each of its agents in every
! county of this State with at least three
copies of such statement, verifcation,
and affidavit of publication, one of which
shall be deposited in the office of the
| Clerk of the Court of Common Pleas of
such county one shall be kept in the
office of such agent, and the other to
be submitted to any person who may
desire to procure a policy of insurance
from such company, or renewal there
of, if demanded by him. Or such com
pany, or some agent or agents thereof,
may, in any county Of this State where
it may be desired to transact business
of insurance, file in tho Office of the
Clerk of the Court of Common Pleas of
such county, copy of the Statement
and verifcation required to be filed with
the Auditor of State, with his certificate
that the same is true cory which shall
be carefully preserved by said clerk for
public inspection, and cause the same
to be published in some newspaper
printed in such county, and of general
circulation therein, for three weeks
such publication to be verified by the