The Montana post., 1868-12-25
PUBLIC-Na 81.


AN ACT to incorporate the National Life Insu
rance Company of the United States of America
Be if resoIred By ths !SeHote and House Of Repre-
seHI0tires Of tLs United Stairs Of america iR Con-
Rress assembled. That john ID. Deirees William
r.. Chandler. Samuel WilkesOn, f.. A. Rollins
Nathan G.. Starweather, John A Wills Frank
Turk, Adam s Pratt. Henry c. Swain, and all
other persons who shall hereafter become stock
holders in the company Incorporated. are hereby
created body polite aod corPorats, by the name
aud style of the National Life Insurance Company
of the United States OF America, for the purpose Of
carrying the business OF Insurance lives and
to make all and every insurance appertaininO
thereto connected herewith; aud TO grant, pur-
chase and dispose Of annuites in the City Of Wash.
ingtOn, in the District of COumbia and elsewhere,
aud shall and may have perpetual succession and
shall be capable in Law OF contracting and being
contracted with; and of suing and being sued,
pleading and being mpleaded in the district and
circuit cour; of the United States, either in law
equity in this district or elsewhere, and they and
their successors shall and may have common seal,
aud NAV change the same at their will and pleas
ure, and may also from time to time at any meet
ing OF their directors by majority of votes.
hereinafter provided Ordain, establish and put in
execution such by laws ordinances. rules and reg
ulStiOns the same nOf being contrary 10 In is
the laws of the United states. may appear to
them necessary or expedent for the management
OF said corporation its business and affairs, and
may from time to time alter repeal the same or
any Of them.
capital stock of said company shall consist of ten
Thousand shares Of stock of the value Of one
hundred dollars each, being million of dollars,
with the privilege 10 increase the Same from time
TO time By q vote of the stockholders annual
| or special meeting, aud the corporators. a
iOrity Of them named in the first section Of this
act sbhall have power 10 receive subscriptions 70
the stock OF the company. AT such time and places
as they may deem expedient. and when the whole
amount of stock shall have been subscribed and
twenty per centum thereon shall have been paid in
(which payment shall be required st the time Of
subscribing) the stock folders shall eject twelve
directors To serve until the next annual election,
or uutil their shall be duly elected and
qualified, aud directors elected Of said company
when 10 shall have been organized, may. and they
are hereby authorized and empowered 10 have and
| to exercise 10 the nsme and behalf OF the eompa-
ny, all tho rights aud privileges, which are in-
| tended TO be hereby given. Upon commencing
reeuire payment Of the amount Remaining unpaid
the stock of the company, at such time and IN
such proportions they may think proper. Pro-
cided. That the whole amount shall be required
| W within two months from the tine of commencing
active business. and under the penalty, In Of
non pay ment required. of forfeiture 20 the
| pAny Of such stock aud all previ"us payments
thereon and should the capital ssock at any time
| iucicsse shall be entitled 10 pro rata share Of
such increase upon The payment Of the par value
\ Of the same.
SEC. 3 <nd BE- &c 6-rsLey enacted. That any
certificate or obgaticn Issued by the company
agreeing tn purchase OF It's policies for fixed
I cum during . stated period, when accompanied by
tbs policy duly assigned or transferred shall be
negotiable. and shall convey title 10 The policy TO
4 whom II may assigned transferred.
sKc. T. Ard Be &c fsrtAr snaefed, That any
policy taken eut in favor u . wfe child, relative
" ether person having osoeccisi interest In the
life of the insured shall aot be liable seizure by
4 the creditors IL the person Insured: Piorii<i,
Thai the policy dec s0s sxce~d the sun Of ten
sEc. 8. z.s Ss q .r.ss4.y s~.et.d. Tia, .. shall
bs l.wfai Cor The s.id eerperstsou 70 purch~ss.
hold cad sosvey real sss.~ - follows: