Nebraska advertiser., 1858-11-18
AN ACT to Incorporate the NeIna-
ha Valley Insurance Company.

ha Valley Insurance Company.
Sec. |. Be 1T enacted by the Council
and House of Representatives. of the Ter
ritory of Nebraska: That John Carson,
Luther Hoadley, A. S. Holiday, Isaac
T. Whyte, q. G.. Johnson, James NJ.
Hughs, Benjamin F. Lushbaugh, Henry
w. Mayhem, r. w. Furnas, Robert w.
Frame and John Grant. their associates,
successors and assigns, are hereby con-
stituted body corporate and polite, by
the name and title of the "Nemaha Val
ley Insurance. Company" by which name
they and their successors shG.l have per-
petual succession, and are made capable
in law, of contracting and being contrac-
ted with, of suing and being sued, of de-
Tending and being defended against, in
all courts and places whatsoever, in all
manner of actions, and may have com
mon seal, which they may change at
pleasure.
SEC. 3. The capital stock Of said COM
pany shall be ten thousand dollars, which
may be increased to any amount not ex-
.ceeding five hundred thousand dollars !;
an any three of the persons named in
section first shall be commissioned to open
books for subscription to said stock in such
manner, and at such times and places as
they may appoint. until five thousand dol
lars of stock In shares of twenty dollars
each, shall be subscribed, and soon there
after the subscribers shall meet and
choose directors, first giving notice of
meeting IN one or more newspapers In
the City of Brownville.
SEC. 3. The payment of said stock
subscribed shall be In the following man.
ner: At the time of subscribing one
dollar shall be paid the commissioners on
each share, and before the company shall
be authorized to issue a policy of Insur-
ance, the further sum of ten dollars shall
be paid the directors on each and every
share, and the balance due satisfactorily
secured, payable on demand, any stock
holder failing to meet his calls for thirty
days after the same shall have been de.
manded, the directors shall have power t.
declare said stock forfeited to the compa
ny.
Sec. 4. The corporation hereby ere
ated shall have full power and AUTHORITY
to insure all kinds of property agains
loss or damage by fire, to make all kinds
of insurance against loss, of property O
any kind in course of transportation
whether happenining on land or water
to make all kinds of insurance on lives
and grant annuities, and to make sucl
other insurance as they may deem prope
or expedient; to loan money on real o
personal security, and on respondents
p and bottomry bonds, and to re-insur
themselves against loss on any risks the
have taken, and generally to do and per
form all necessary matters and thing
come cted with these objects or either c
them.
SEC. S. The affairs of said corpora
ton shall be managed by nine director
: who after the frst'yea shall be electe
on the second Tuesday of January, j
! every year in the city of Brownville, q
the board of Directors may designate
first giving thirty days public notice {
:, said election. Should anything prevel
:. its taking place as hereby provided, th
n corporation for that cause shall not /
ct deemed dissolved, but the election ma
: take place as shall be provided by Ii
II companies bylaws, each share being el
titled to one vote.
3 SEC. 5. The directors regularly CHI
= sen by the stockholders of this compan
shall as soon as may hereafter at any al
nual election, choose, out of their bod
one person to act as President, and OF
person to act as Vice President. I'll
first named shall preside at all meetin!
! of the directory. In case of his absen
ID or death, the Vice President shall pc
form his duties; either of whom with Il
= Secretary or Actuary shall sign the pc
icies or contracts made by order of Il
Board of Directors, which contract shG
be valid and binding with or without Il
c. seal of said corporation and such OF
er acts and things as may be preseri
ed ed in the companies bylaws. Any
: rector ceasing to be stockholder fo
feits his powers and privileges as dire
I, tor.
.OEC. g Inc COl pOl dtlOu uCICOy OlC
ted shall have full power and authority
invest its capital and surplus funds in a
las funded debt created by or under any Ia
aGe sTS of the United States Government, or
tes any of the States or Territories or of t
City of Brownville, and to sell and trar
: fer the same as the directors may dee
for the interest of the corporation, or
= loan such of its unimployed money or
Y. funds on snch time and security as the
rectors shall prescribe, to be made avai
I. bic in the time of Its ordinary bushes
= SEC. s. The stock of said compa
shall be considered personal property, a
M shall be transferable according TO 81
u rules and under such restrictions as
Board Of Directors may direct. Pro
ded, that no transfer of stocks shall
= made except upon the books of the Co
pany, which shall specify the date of 81
II transfer and shall be at all times subj
Il to the inspection of any person intere
ed. And, provided, further, that no 81
= transfer shall release any stockholc
from liabilities existing against said CO
/ pany before the date of such transfer
yyr The directors, by their bylaws, may a
prescribe what number of directors ST
7oT- For. form board competent to transact
business Of the company, prescribe w