The Portland daily press., 1877-02-27
CHAPTER 1874.

Chapter 1874.
AN ACT to encourage the introduction of the Man
facture of Beet Sugar.
Be 1t enacted, &c., as follows:
The governor and council are hereby authorized,
upon such terms and conditions as they shall deem
advantageous to the state to contract with any re-
sponsb Die party or company, to pay said party or
all beet sugar manufactured in this State, from
beets raised in this State; the amount of bounty SO
paid, not to exceed seven thousand dollars in any
year, and not to exceed ten years from the time
of the payment of the first bounty money.
[Approved February Z, 1871
AN ACT additional to chapter forty mine of the
Revised Statutes relating to Life Insurance.
Be 1T enacted, &c., as follows:
SECT l. Every policy Of Life Insurance issued ON
and after the first day of April in the year OF our
Lord one thousand eight hundred and 81 tSi
State, which may be forfeited for non-payment OF
premiums including all notes given for premiums Orns
interest thereon after it shall have been In 1Orce
three full years, and which shall not contain provs
ion for surrender value at least equivalent to the
ge tine % et to ans and
witt IT, 49, u,,no % +,a no,,ov when the premium
becomes due and is not paid, shall be ascertained
according to the combined experience, or actuares
rate of mortality, with interest at tour per cesu
per annum after deducting from three-1ourtns OF
such net value any Indebtedness to the company, VI
notes held by the company against the 1nsured,
which notes, if given for premium shall then De
cancelled what remains shall be considered as net
single premium of temporary insurance, and the
term for which it will insure shall be deerm mn t
according to the age of the party at the time Oh e
lapse Of the policy, and the assumptions OF
and interest aforesaid but if the policy shall pc an
if it should previously occur, them if what remains
aforesaid, shall exceed the net single premium OF
temporary insurance for the balance OF the enooW-
ment term for the full amount Of the policy, sucn
excess shall be considered as net single premium
or single endowment, payable only at the same time
as the original endowment, and in the life in
| tn
pay able by the company shall be determlned &C.
cording to the age of the party at the time OF the
lapse Of the policy and the assumptions OF mortality
and interest," aforesaid For the purpose OF TINS act
when the premiums upon any policy snail De payaa-
Gs be ean m after
the policy shall have been In force 1or tnree luil
years, the policy shall be valued In the same manner
as it would have been had the whole premium IOr
the policy year last entered upon been paid IN fui
and the balance of said years premium actually un-
paid shall not be deducted from the reserve as an
outstanding Indebtedness at the time of Default but
shall become a part of the forborne PREMIUM as
hereinafter provided.
within the term of temporary insurance covered by
the value of the policy determined in the previous
! than the payment of premium has been violated by
the insured the company shall be bound to pay me
amount of the policy the same as II there hao oeGn
contrary Notwithstanding; provided, however, that
notice of the claim and proof Of the death shall be
provided by the terms Of the policy within ninety
days after the decease; and provided also that the
company shall have the right to deduct from the
amount insured in the policy the amount compound
ed at seven per centum per annum OF an the pre-
'miums that had been forborne at the time of the
DEATH including the whole of the years premium in
which the death occurs
N. [Approved February I, 1911
Chapter SIS.
AN ACT requiring Railroad Corporations to be
holden for Labor
Be 1t enacted, &C., as follows: ~
That chapter ffty-one Of the revised statutes be