two hundred thousand dollars, to be paid in stock notes, in advance of premiums, payable in twelve months from their date, and in such sums and at such times as may be decided upon by the directors. It is not proposed, to make any assessment on this subscription at this time, unless the business of the office should require it, but to retain it as a guaranty fund, on which, with its other assets, insurance can be based. It is proposed, however, to allow any subscriber the privilege of giving stock notes, from time to time, on account of his subscription, to be paid him in premiums, and all such sums so paid shall be in full, to the extent paid, of all liability on account of this subscription." Held that the agreement created a contingent liability only, upon the part of the subscribers; that the corporation stipulated, by implication, to issue policies to the subscribers, and thereby to enable them to discharge their liability on these subscriptions; and that its inability, in consequence of insolvency, to perform its part of the agreement absolved the subscribers from liability thereon, either to the corporation or its creditors. Pendergast vs. Commercial Mutual Marine Ins. Co., 15 Gray, 257. By-Laws of a mutual insurance company, when referred to in the policy as controlling the rights of the parties, are as binding as if their stipulations and conditions were set forth at length in, and made part of, the contract. But, where they are not referred to in the policy, nor made a part thereof, it has been held that they form no part of the contract, and that the insured is not bound by them. Kingsley 8. New England Ins. Co., 8 Cush., 393. If, however, a paper containing the by-laws, or any other relevant matter, be annexed to, and delivered with, a policy, it is, prima facie, a part of the policy, whether expressly referred to therein or not. Murdock vs. Chenango Co. Mut. Ins. Co., 2 Comstock, N. Y., S 210. A by-law, passed after the making of the contract, does not bind those previously insured, to their injury; as it is competent for a mutual insurance company, any more not than for any other contracting party, to impose new conditions, affecting the contract, without the assent of the co-contracting party. New England Mut. Fire Ins. Co. vs. Butler, 34 Maine, 451. A by-law, requiring that suit be brought in a particular court, is void; as courts cannot be ousted of jurisdiction conferred by general law, by the mere agreement of parties. Nute vs. Hamilton Mut. Ins. Co., 6 Gray, 174. If such a by-law contain also a requirement, that suit be brought within a specified time, it will be good as to that, and void as to the other. A by-law providing, that if the risk on the property shall be increased by the assured or "others," by any change of the circumstances disclosed in the application, the policy shall be void, unless, &c., is valid; and, if an alteration by which the risk is increased is made by others, it will be a valid defence. Whether the change increased the risk, is a question of fact for a jury. Shepard vs. Union Mut. Fire Ins. Co., 38 N. H., 232. Any insurer, whether mutual or stock, or individual, may annex any conditions to his undertaking which he pleases; and if he makes an absolute and unqualified condition that a specified thing shall be done, as, that "a constant watch shall be kept on the premises, otherwise the policy shall be void; if the assured fails to keep such watch, the policy is thereby avoided, and no question can be made, whether compliance af·fected the risk or not: but when the condition is qualified by a limitation as to its materiality to the risk, it opens that question to the jury in each particular case. Parker vs. Bridgeport Ins. Co., 10 Gray, 302. Where one of the conditions of a policy of insurance, issued to a mortgagee, required the assured, in the event of a loss, to assign to the company "the mortgage" upon the premises insured, together with "the debt" secured thereby or "so much thereof as would be sufficient to pay the loss," and that a refusal so to assign should discharge the company from all liability under the policy: it was held, that an assignment of so much of the debt as would cover the amount of the in surance, conditioned that the insurers shall collect such debt at their own cost, is a sufficient compliance with the condition. New England Fire and Marine Ins. Co. vs. John, 32 Ill., 221. A more simple form of policy, as follows; is used by some of the oldest and most reliable mutual insurance companies. It will be noticed, that this form contains a clause making the assessments to be had, "pursuant to the act incorporating said company, hereto annexed." The policy is usually issued on a whole sheet; two pages of which are appropriated to a copy of the charter and its amendments. The conditions are very brief and simple, and insurance in some of the oldest of these companies is well managed, had at cheap rates, and is reasonably secure. Mutual Insurance Company. This Policy witnesseth, that whereas , in the county of of Connecticut, has become a member of the Fire Insurance Company, and bound and obliged No. of and State heirs, executors and administrators to pay all such sums of money as may be assessed by the directors thereof, pursuant to the act incorporating said company, hereunto annexed, and also secured to said company the sum of dollars, being the amount of the premium for insuring the sum of dollars unto the said heirs, executors, administrators and assigns, upon the following described buildings, viz: [Here insert a description of the property to be insured]. reference being had to the application of the said No. on file in the office of said company, for a more particular description, and as forming a part of this policy, during the term of three years, commencing at noon on the day of , eighteen hundred and sixty ending at noon on the dred and seventy day of , and eighteen hun Now, be it known, that we, the members of said company, for and in consideration of the premises, do hereby certify that the said has become, and by these presents is insured in and by said company, upon the property aforesaid and as above specified in the sum of dollars. And we do hereby promise according to the provisions of said act, to pay unto the said insured, executors, administrators or assigns, all such losses or damage not exceeding in the whole the sum insured as above specified, as shall happen by, or by means of, fire to said property during the time this policy shall remain in force. The said losses or damage to be estimated according to the true and actual value of said property at the time the same shall happen, and to be paid within three months after notice shall be given by the insured, according to the provisions of said act. Provided, that if this policy shall be assigned, or any other insurance upon any or all the above named property shall exist, during the continuance of this policy, without the consent of this company under the hand of the secretary, in either case, this policy shall be void and of no effect: and provided also, that if such other insurance shall exist with the consent of this company as aforesaid, and a loss shall happen, this Company shall be holden to pay only its just proportion of such loss, according to the whole amount insured. Conditions.-1st. In the buildings insured, or those adjacent thereto, ashes and friction matches are in no case to be kept in vessels of wood, or in contact with wood; every stove-pipe is to be kept two inches from any wood work, is to terminate in a chimney, and be suitably cleansed, and the floor under and near the stove, carefully protected from fire; and that fire-boards and oven-lids or doors are to be fireproof. 2d. If any dwelling insured as occupied, shall be vacated or unoccupied without the consent of this company, under the hand of the secretary, the insurance of said dwelling shall cease, while so unoccupied. 3d. This company, by giving notice to the insured, or his or her legal representative, and refunding the unexpired premium, may cancel the record of the policy, and it shall from that time be void. 4th. In case of loss or damage by fire, the insured, (as soon thereafter as possible), shall forward to the company a statement of the loss, declaring whether any, and what other insurance, upon the property burnt, existed at the time of the fire; what was their interest therein; that the loss was sustained by misfortune, and without fraud on the part of the insured; and that the foregoing conditions had been complied with; which statement shall be subscribed by the insured, and sworn to before, and certified by, a magistrate most contiguous to the place of the fire, not interested in the loss, and not related to the insured: and the same shall be accompanied by a certificate from the said magistrate, that he verily believes that the statement so made is true. In witness whereof, the president of said company has signed this policy, and the secretary thereof has counter this one thousand eight hundred and sixty signed the same at Premium, $ Paid in Policy and day of President. Sum insured, $ Rates per cent., are SECTION 11. Of Foreign Insurance Companies. Insurance companies, doing business in States other than those in which they were incorporated and have their homes, e usually regulated by statute provisions of the States to which they come, and, if such regulating statutes are just and equal in their operation, they are valid and binding, and there is no reason to complain of them, as unneighborly or wanting in comity. It is essential to the validity of a contract of insurance, in favor of such an insurance company, that it should have previously complied with the provisions of the statutes relating |