The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1857-06-03

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and forwarded to the Secretary of State,
and shall be recorded and copied in the
same manner as is provided in the Sec
ond section of said act; and said per-
sons, when SO incorporated, are hereby
authorized to carry on the business of
insurance, as named in such certificate
of incorporation, and by the name and
style provided therein shall be deemed
a body corporate, with succession ! they
and their associates, successors and as
signs to have the same general corporate
powers, and be subject to all the obliga-
tions and restrictions of said act, and of
the acts amendatory and supplementary
thereto except as herein provided.
Sec. 2. It shall be lawful for any
company organized under this act, to in
sure houses, buildings and all other
kinds of property, against loss or dam
age by fire in this State, whether the
same shall happen by accident, lightning
or any other means, excepting that of
design in the insured, or by invasion of
an enemy, or insure -tion of the citizens
of this or any of the United States, and
generally to do and perform all oth-r
matters and things proper to promote
these objects.
SEC. 8. That all and every person
or persons who shall at any time become
interested in such company, by insuring
therein, and also their respective heirs,
executors, administrators and assigns,
continuing to be insured therein, as here
mater provided, shall be deemed and
taken to be members thereof, for and
during the terms specified in their re-
spective policies and no longer, and shall
at all times be concluded and bound by
the provisions of this act.
SEC. 4. That every person who shall
become a member of such company, by
effecting insurance therein, shall before
he receives his policy, deposit lis promis-
sary noto1 for such a sum of money as
shall be determined by the directors, a
part not exceeding five per cent. of WHICH
said npte shall be Immediately paid, for
the purpose of discharging the iuciden-
tel expenses of such company; and at the
expiration of the term of insurance,
the said note, or such part of the same
as shall remain uupaid, after deducting
all losses and expenses accruing during
said term, shall be relinquished and Civ
en- up to the sigrer thereof.
SEC. 5. That every member Of such
company shall be, and hereby is, bound
and obliged to pay his portion of all
losses and expenses happening OF accru-
ing in and to such company to the
amount Of his deposit note; and all
buildings insured by aud with said as.
suranee, together with the right, title
and interest of the insured, to the lands
on which they stand, shall be pledged tc
) such company and such company shall
have a lien thereon against the insured
doring the continuance OF his, her Oh
their policies.
Sec 6. That in case of any loss OIL
u, damage by fire happening to any mem
Der upon property insured in and will
:, such company, the said member shall
give notice thereof, in writing to the Di
r%ectors, or some one of them, or til
Secretary of such company within thirt.
: DAYS from the time such loss or damsg
may have happened and the Directors
upon a view of the same, or in any sue.
: other way as they may deem prope,
shall ascertain and determine the amour
of said loss or damage and if the part
suffering is not satisfied with the deter
mination Of the Directors the questio
may be submitted to referees, or the sal
party may bring action against sue
company for the loss or damage, proviC
= ed said action shall be commenced will
in three months from said determin;
), ton.
- SEC. T.. That the Directors shall
" after receiving notice of any loss (
, , damage by fire. sustained By any men
y Der, aud ascertainins the same, or aft
; the rendition of any Judgment again
:, such company for such loss CT damag
settle or determine the sums to be pal
BIZ the several members thereof, as the
respective portion of such loss, ar3 I'd
: lish the same in such manr.er as tn,
shall see fit, or as the bylaws may pr
scribe and the SPIN to be paid by ca
member shall always be in proportion
it the orIglna. AMOUNT of his deposit nc
he or notes, aad shall be paid to the Ire.
urer T.ithiu thirty days next after t
IN yublieation of said notice; and if a
member shall, after the space of thir
days after tho publication of said noti
neglect or refuse to pay the sum asse
ed upon him, her, or them, as his, her
Of their proportion of any loss aforesaid,
NJ such case the Directors may sue for a
recover the whole amount of his, her
-, their note or notes, with cost of su
aud the money thus collected. shall
main in the treasury Of such compal
subject to the payment of such los
and expenses as havoc may hereaf
accrue; and the balance, if any rema
- shall be returned to the party fir
which it was collected on demand, af
thirty. days from the expiration of
term for which insurance was made.
Sec. s. That such company n
make assurances for any term not
en- eeeding FIVE years, and any policy of
nat suranco issued by such company, sigr
ors by the President and countersigned
leu the Secretary, shall be deemed valid
Its binding by such company il all ca
the where the assured has a title in fee s.
la pie unincumbered, to the building
I've buildings insured, and to the la
gal less estate therein, or if the premises
ose incumbered, the policy shall be void
10 less the true title of the insured and
the membranes. of the premises be
ing pressed therein, and in the applicat
ry; therefor.
nm SEC. 9. That the Directors 81
TO settle snd pay all losses within til
eap- months after they shall have been u
ups fed as aforesaid; but no allowance i!
ana be made in estimating the damages
ing any case, for gliding, historical or la
ups scape painting, stucco or carved worl
SEC. 10. That when any house
on other building shall be alienated BY S