Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-03-29
new INSURANCE LAW
Full Text of the Measure that
Was Passed.
Tho Southeastern Tariff Reviewed Tho
yyhnrton Law Repealed by It Com
binations are Again Possible Under
This Act.
(From the Richmond News.)

(from the ficnmOnd NeWS.)
There is no doubt that the last Legis-
1ature in granting 4 charter to the Pro-
tective Insurance Company Of Virginia
revived the Southeastern Tariff Associ-
alton as far as, rate-making and COM
binations are concerned.
The new company can "sell or lease
or consolidate and merge It's privileges,
properties, rights, works. and fran
chises with those of any other COM
pany now chartered. The bill was
never printed, but the full text of it is
as follows:
A bill to incorporate the Protective
Insurance Company of Virginia.:
/. Be 1t enacted by the General AS
sembly of Virginia, That C. w. Will
liams, ]. Richard letter. Thomas Da-
want, Jr., l.. l.. Wool, II. Junker. and
such other persons as may be associ-
ated with them, and their SUCCESSORS,
zoe, and they are hereby, made and con-
stituted a body polite and corporate
under the name of the Protective In
surance Company, and by that name
and style shall have perpetual success
sion and a common seal, which it may
after and amend at pleasure. sue and
be sued contract and be contracted
WILL Hldhe, OF OTuiLlU, eSIaDltSn, after,
or amend bylaws and regula tons coll
corning all matters of organiza ton and
business not herein specifically pro-
Vided for to carry this act into effect
or to promote the objects and designs
OF the corporation. and be generally in
vested with all the rights and privi-
legss appertaining to incorporated COM
panies under the laws of Virginia
2. The capital stock shall not be less
fhnnSon6
than twenty-five thousand dollars,
which said stock shall be divided into
shares OF the par value of enc hun
dred dollars each. The said stock shall
be deemed personal property, and shall
be transferred on the books OF the
company In such manner as may be
prescribed by the directors, and each
share of the stock shall be entitled
to one vote ut all the meetings OF the
stockholders
.. The said company Is authorized to
do q general insurance business and
may insure dwelling houses, stores. and
all kinds of buildings and their con-
tents, household furniture, boats and
other vessels, merchandise. and other
property and cargoes OF freight of
railroad cars. boats or other vessels
against damage or loss by fire, light
ming, winuStormS, tornadoeS and all
dangers of the sea, and to effect re-
insurance or any risk taken by it, and
to reinsure risks taken by other compa-
MES lawfully permitted to do business
of similar or like character, either
while within the bounds of this State
or in transit in or 20 other States or
countries. TO INSPECT RISKS,
MAKE SURVEYS THEREOF. FIN
AND ESTABLISH CHARGES AND
RATES OF INSURANCE. CHANGE
SAME FROM TIME TO TIME, PUB
LISH. PROMULGATE AND DISPOSE
OF SAME TO ANY COMPANY AU-
THORIZED TO DO a FIRE OR TOR
NADO INSURANCE BUSINESS IN
THE STATE OF VIRGINIA.
4. The principal office OF the COM
pany shall be located in Richmond.
Va. and branch offices may be located
at such other places as the Board of
Directors may from time to time deter
mine
5. The management of said company
shall be vested I'm n Board of Directors.
composed of five members, with the