Evening star. [volume] (Washington, D.C.) 1854-1972, 1867-03-28
[PCBLIC-No. 1O7.1
AN ACT 10 incorporate the Nauonal Capitol
Insurance Company.

n AIT 10 the NdLlOlaI CaDifOi
Insurance Company.
Be u enacted By the Senate and HOUSE of Repre-
sen GftreS If the United States Of America an Con-
gress assembled, That Green Adams. Erastus
Pouison, Joseph J. Coombs, Robert Leech,
John X. C.afG, Jr, j. Y. Reznor. Fergus NJ.
Blair, Roher =. Owen, and Joseph w Parish.
and others wAo may become members, ara
hereby created BODY polite and corporate,
by the name ana style -! the s.National Cant
tel Insurance Company" for the purpose of
carrying on the business of insurance al the
city OF Washington, IN the District Of Colu.n-
bia, ana elsewhere, subject to the laws OF the
several States. and shall and NAV have per-
petual succession. and shall be capable in law
OF contracting and being contracted with, and
o. suing and being sued, pleading and being
impleaded, IN all courts OF competent iuris-
olctior, either In law or equity. In this DIS
trICt or elsewhere, subject TO the laws OF the
Sta'es as aforesaid. ana they and their success
snrs shall and may have common seal, and
may charge the same AT their will and pleas
ure; ard may also, from time to time, at any
meeting OF their directors, by majority of
votes as hereinafter provided, ordain, estab-
hsn. ane put IN execution sucn by laws, ordi-
nances. rules, and regulations, the same not
being contrary 10 this act or the laws Of the
United States, as may appear to them neces.
sary or expedient for the manage ment of said
corporation, its business and affairs, and may
nom ume 10 time alter or repeal the same or
any of them.
SEC 2. And BE- IL .fuphsr enacted, That the
said company shall have power TO make in
suraBce upon the lives and health Of persons
and against ccidents Of any and all kinds: TO
issue tickets, or policies, or both, "a the board
OF directors may determine; and 10 cause
themselves to be insured, when deemed expe.
dent, against risks upon which they may
have made insurance.
SEC. 3. ARd be further enacted, That the affairs
CT said company shall be managed by a board
or directors, consisting OF not less than five
mem ers, or stockholders. three Of " hom shall
constitute quorum; said directors shall be
elected oy ballot from among the mem bers and
stockholders of said company, in general meet
ing assembled. at such times and places az
saio corporation in Its by laws shall appoint:
OF which election public notice shall be given
ten days preceding such election, which shall
be held under the inspection of members or
stoc kholders, TO be appointed for the purpose.
Tor the nrst election, by the persons named III
the frst section OF this act, and thereafter by
members and stockholders, not being dIrec-
Tors, TO be appointed previous TO every eiec-
ton BY the board Of directors, and such cleo
uCn shall be made by ballot, ana by plurality
OF the votes of the members or stockholders,
or their proxies, present, allowing to each
member or stockholder one vote for every
nity ooiisrs IN capital stock represented in
said company. All vacancies IN said board
may be filled for the unexpired terms by the
remaining directors. and tie persons chosen to
MI such vacancies shall continue IN Office until
others snail De chosen in their places; and 9TH
er elections shall be held on the first day of
Aprii OF each year, for the choice Of new direc-
tors. The said board of directors shall elect
viva yoce, president, vice. president secre-
tary, treasurer, and general agent, who may
hold their Offices for and during the term of
| one year, unless sooner removed by the board
OF directors or until others are elected in their
places.
SEC. 4. And be IL further enacted That the
l"nos OF ms company. however derived, may
tie invested in or loaned on stock or real se-
curly But the stockholders of this company
shall not be liable for any loss, damage. or re-
sponsibiIty beyond the amount of stock sub
scrlbed by them respectively, and any profits
accruing therefrom and undivided
SIC. 8. and be IL further enacted, That suits
at law or Ia equity may be main tanned by said
corporation against aay of its stockholder for
lie collection OF any Assessment on their stock
or Tor any other cause relating to the business
OF said corporation, and may be prosec ted an d
maintained by any member or stakeholder
against said corporation for losses or damages
insured against II payment is with held more
than three months after the losses are duly
proved, and notified TO the company, agree ABLY
TO the conditions Of the policy.
SIC. 8. And be IL further enacted, That the
president, secretary, and treasurer Of the com.
! panY, and such other stockholders as may be
added by the board, shall constitute an exec.
uive committee, and, when the board of di /.
rec'ors are not in session, may exercise all the
| powers vested in the company, Except az
shall De Otherwise provided by the board of
directors In the bylaws Of the company a
Hsloriiy OF whom may constitute quorum to
SIC. 2. And be IL further enacted, Tha, the can .
tai STOCK OF the company shall not be less m = n
one hundred and nifty thousand dollars nor
| fifty dollars each. which hrst-namea amount
| of one hundred and fifty thousand dnIl,rs
shall be paid In previous to effecing insur.
sncee.
rectors shall have power 10 declare such d.
bends OF the profits OF the COMPANY an thev
shall deem proper: Prorided. Thar NO diyi.
cend shall Be declared when, In the opinion OF
the directors or majority thereof. the capital
stock would be impaired thereby.