Preble County Democrat. [volume] (Eaton, Ohio) 1857-1859, 1857-05-14
!. {. EATON, PREBLE COUNTY, e. MAY IA, 1857

mitted to1referees, or the said party may
bring an action against such company
for the loss or damage, provided said
action shall be commenced within three
months from said ,determination.
1 Sec. Z. That the directors shall,
after receiving notice of any loss or
damage by fire, sustained BY any mem
Der, and ascertaining the same, or after
the rendition of any judgment against
such company for such loss or dam
age, settle or determine ths sums to
be paid by the several mend thereof
as their. respective portion each loss.
and publish the same in such manner
I as they shall see fit, or as the bylaws
may prescribe; and the sum to be paid
by each member shall always be in pro-
portion to the original amount of his
deposit note or notes, and shall be paid
to the Treasurer within thirty days after
the publication of said notice, neglect
or refuse to pay the sum assessed upon
him, as his, her or their proportion of
any loss aforesaid, in such ease the Di-
rectors may sue for and recover the
whole amount of his, her or their note
or notes, with cost of suit, and the
money thus collected shall remain in
the treasury of such company, subject
to the payment of such losses and ex-
penscs as have, or may thereafter accrue :
and the balance. if any remain, shall be
returned to the part from whom it was
collected on demand, after thirty days
from the expiration of the term for
which insurance was made.
SEC 8. That such company make
insurances for any term not exceeding
five years, and any policy of insurance
issued by such company, signed by the
President and countersigned by the Sc
cretary, shall be deemed valid and bind
ing by such company in cases where
the assured has title in fee simple un-
Iincumbered, to the building or build
ings insured, and to the lands covered
by the same ;; but if the insured have a
less estate therein, or if, the premises be
incumbcred, the policy shall be void
unless the true title of the insured and
the ineumbrancGs of the premises be ex-
pressed therein, and in the application
therefor.
SEC. 9. That the Directors shall
settle and pay all losses within three
months after they shall have been mott
fed as aforesaid; but no allowance is to
be made, in estimating the damage in
any case, for gliding, historical or land
iscapespainting, stuceo or carved work.
SEC. TO- That when any house or
other building shall be alienated by
sale, or otherwise, the policy shall there
upon be void, and be surrendered to the
directors of such company to be can
celled; and upon such surrender the
insured shall be entitled to receive, his,
her or their deposit note, upon the pay
ment of his, her or their proportion of
all losses and expenses that have accrued
prior to such surrender; Provided that
the aliencc or grantee, having the policy
assigned to him, may have the same sat
isfed or confirmed to him, her or them,
for his, her or their proper use and ben
eft. upon application to the Directors,
and with their consent, within thirty
days next after such alienation, on
giving proper security to the satisfaction
of said Directors for such portion of the
deposit or premium note as shall remain
unpaid; and by such ratification and
confirmation, the party causing the same
shall be entitled to all the rights and
privileges, and subject to all the liabil-
tiles to which the original party insured
was entitled and subjected under this
act. -.-Ess -ss...
Sec. H. That if any alteration shall
be made in any house or building, by
the proprietors thereof, after insurance
has been made thereon with such com
pany, whereby it may be exposed to
greater risk or hazard from fire than it
was at the time it was insured, then, and
in every such case, the insurance made
upon such house or building shall be
void, unless an additional, premium and
deposit note, after such alteration, be
settled with, and paid to the directors
or their agents and it is hereby made
obligatory upon said directors or their
agents, after due notice of said altera-
ton shall have been given by said pro-
prietors, and after the same shall have
been accepted by said directors or their
agents, to fix without delay the amount
of said additional premium and deposit
note but no alterations or repairs in
buildings not increasing such risk or
hazard, shall IN any wise affect insurance
previously made thereon.
Sec. II. That in case any buildings
situated on leased lands, and insured by
such company, be destroyed by fire, in
such case the directors may retain the
amount of the premium note given for
insurance thereof, until the time for
which insurance was made shall have
the right to command and receive such
part of said retained sum, or sums, as
has not been expended in losses and
assessments.
Sec. IS. That if any insurance on
any house, building or property shall
be and subsist in such company, and in
any other Office, OF from and by any
other person or persons at the same
time, the insurance made in and by such
company shall be deemed and become
void, unless such double insurance sub
sists with the consent of the directors or
agents, signifed by Endorsement on the
back of the policy signed by the presi-
dent or secretary.
SEQ. Il. No policy of insurance
shall be issued by such company until
4 bona fde premium notes have been re-
ceived to the amount of twenty five
thousand dollars, which notes shall be