The Portland daily press., 1895-07-10
STATE OF MAINE.

| 81 II T. OE MA/Nk.
EXTRACT FROM BILL OF INCORPORATION.
In the gear Of our Lord one thousand
| eight hundred and ninety,fue.
| AN ACT TO INCORPORATE THE ANGLo-AMER-
| ICAN GUARANTEE COMPANY.
| SIC. 2 The said company is hereby au
thorized and empowered to act as surety upon
the official bond or liability of any person or
corporation to the United States; to any coun
ty. city or town; to any Judge of probate or
other court or magistrate; to any corporation
| or association, public or priyate and upon
bond or liability to any person or persons con-
dihoned upon the performance of any trust;
also upon bonds to indemnify against loss any
person or persons who are responsible as sure
ty or Sureties upon written instrument or
| otherwise, for the faithful performance by 9TH
ers, of any trust, Office or duty; and in anv
case where, by law or otherwise. two sureties
| are required upon any obligation which this
! company is hereby authorized to assure, this
company may act as sole surety, If so accepted
| and approved by the court or magistrate named
as the obligee in the bond; also to guarantee
ths payment of stock and certificates of accu-
muIative Indebtedness of corporations, except
| ing those doing purely mutual association
business under the laws of this State, under the
assessment plan, each corporation whose accu-
mulatIve indebtedness is so guaranteed, to be-
come mutual guarantors; and for the transac-
| tion and adjustment of such other business
| incident thereto and connected Herewith, in
| such way ana manner as may be provided for
| in the bylaws of said corporation; and said
corporation may charge and receive such law
| full commissions as is customary in the busi-
ness, and in eases where there is no established
| custom or law such commission or fee as may
| be agreed upon.
| SEC. 3. Said corporation may purchase, take
and hold by deed, gift, bequest, devise or other
wise. real and personal estate in this State or
elsewhere for the purposes OF said corporation;
and it shall be the duty of the beard of direc
| tors to invest the capital of said corporation.
and to keep the same invested in good securi-
ties and it shall be lawful to make such invest
ments OF its capital and of the funds accumu-
| lated by its business, or any part thereof in
bonds and mortgages upon unincumbered real
| estate worth at least one-third more than the
| amount loaned thereon, and upon stocks or
bonds or personal property, worth at the time
| of loaning at least one-fourth more than the
| amount loaned thereon. Investments may be
| made in the name of trustees, whenever the
directors deem it necessary to do so, in order to
preserve and protect the interests of the C -po
ration, and to secure perfect title to property
| held as investments or as security for invest
ments.
| SEC. 5. The capital stock OF this corporation
shall be five hundred thousand collars (and
| may be increased to not exceeding two million
| dollarsD
| SEC. 6. This corporation shall at all times
keep on deposit with the treasurer of state
| sum OF money, in Uunited States Bonds or such
| securities in which savings banks are allowed
| to invest, subject, however. to the approval OF
| the insurance commissioner or bank examiner,
equal to one hundred thousand dollars, to be
held by said treasurer of state on deposit and
| In trust for the benefit of all bond and certf-
| cate holders in said company, Sc. SC.
| SEC. z. After deducting from the earnings Of
| the company, no part of the premiums received
| on risks not terminated being considered earn
| lngs, and from the income of its invested funds.
such an amount as shallbe required for the cost
| OF management, and for such dividends not ex-
ceedng six per centum per anuum on the capi-
| tai stock AS the directors may determine up
ON, the residue less the losses incurred during
| the year if any. shall be annually Set apart for
| he purpose Of constlJus. lg reserved fund or
surplus for the payment . losses, until the said
reserved fund or surplus shall equal fftesH per
cent OF the amount OF the capital stock paid in;
and in case the reserved fuad or surplus shall
| ever be impaired it shall be made up to the
full amount in the manner originally provided
and the said capital stock shall in no ease be
| impaired or diminished until said reserved fund
| or surplus shall have been exhausted, provided;
| that whenever the said reserved fund or sur
| plus shall equal fifteen per cent of the amount
of the capital stock pail in tile car iings of the
company, over and above the aforesaid divi-
dends Of six per cent per annum and the con-
| tributons required to keep the .sai reserved
| fund OF surplus entire, may thereafter be divid-
ed among the stockholders etc, ETC.
SEC. s. Said corporation shall be subject to
| examination by the insurance commissioner,
ETC.. etc.
| Ia House Of Representatives, FEB. 23rd, 1888,
| This bill having had three several readings.
| passed to be enacted.
Signed by the Speaker
In Senote-Mcrch ST, 1895.
| This bill having had two several readings
| passed to be enacted.
Signed by the President.
| March l, 1895.
| Approced by the Gorelnor ofthe State Of Maine