The Weekly Arizonian., 1870-09-10
No 35

A ACT to incorporate the National M utuai
 Llle Assurance association of WGrhin gtop,
 D. C.
 Be it enacted by the Senate and House of Rep. resentatives of the United Statas oi America in Congress assembled, That Ai non A. Clapp. Ezra 5. French, Stephen J. W, Tabor. k, B. Donald- son, William A. Richardson, Jedediah H. Bax- ter, James M Austin. Henry P. H. B.omWell. Aaron E. Randall, Joha R. Thompson. Dolson $. Searie, Joseph L. Evans, Thomas L. Tul, lock, Amos L. Merriman, Edward Douney. L, Al. Sanders, J. w. Griffin, John w. Bsleler, George $. Montrouse, William Wilkinson James o. Conner. and B B French, and their successors, are constituted body corporate, by the name of "Ths National Llfa Assurance and Trust Association" and by that name may sue and be sued, plead and be impleadsd have common seal, and have all the rights, priSi- teges, and immunities necessary for the pur- poses ot the corporation hereby created Pros Vlded, That the said company shall be limited to the District of Columbit in the transaction oi ts business, and shall not establish any agency in any State except in pursuance of the laws of said State.
 SEo, 2. And be it further enacted, Thst the corporation above named shall, within one year after the passage of this act, meet and elect such officers as may be necessary 10 per feet the organization, and thereupon, or as soon thereafter as may be practicable, shall open books for the enrolment of members
 SEC: 2, And be it further enacted. That the objects of this association shall be he mutual insurance of the lives of the mem bers, and ths investment of premiums in trust for the benefit of the person paying the Aame, or some other person designated by him, upon the endow- msnt plan. At any meeting of the corporators or majority of them, they may prescribe such rules and by-laws for inc government of their association, and the transaction of i,s business, fix such rate of Insurance and pre- mlums and provide fer the pa ymens ofiosses. in such manner as may bs necessary to carry into effect tho objects of the incorporation Provi- ded, That such rules and bylaws sbst not conflict with the Constitution of the United States, nor with any laws iu force within the District of Columbia: :Nhich ,Enlas and i-t ,, may De changed g. any regular meeting of the board of trustees of the association by ma jorty vote of the members of such board pfes4 ont
 SEC 4. And belt further enacted. That itshall be lawful for the said association to purchase, hold, and convey real etta;e, as follows: First, such aE shall be requisite for the immediate accommodation of it's business or eeeand. such Ss shall have besn mortgagsd ts it iu goo1 faith sy way of security fer loans prsv oasiy contracted, for money due or, third, such az shall have been conveyed to 1t in satisfsctios of debts previously contracted in the cou.ae of it's dealings; or, fourth, such Rs shall have bass purchased at sales upon judgments, dScree.. or mortgages obtained or made for such dabS,
 SEC. 5. And be 1t further enacted That ahs number of trustees to manage the busines4 of said corporation shall he twenty, A majority of whom shall be residents of the Districs oi Co. lumbia and the first board shall be elected from among the cOrporatOrs herein named, aud any vacancy existing or occurring by death, resignatan, or otherwise, in said office of trusa lees, shall bs filed by byloI at such time az the bylaws shali prescribe and that the said trustees shAli el.ct one or their numbay to ba the president Of the said board. and shall elect two of their number as vice. presidents, one of their number as secrsary, and ono of tAsir number as treasurer of the FSme.
 SEC. s. Aad bs it further enacted That the presi lent, ~preadents, secretary, lreesuzsr and subordinate officers and agents of the Rsn sociation shall respectively give such security for their fidelity ana good conduct as the board of trustees may from time to time require. and the board shall f1 the salaries of such oficsrt and agents.
 Approved June 23 1870