Qualifications of the spection of any books, papers and documents, belonging to the company, with which requisition the directors and officers shall promptly comply. Third. The director at the time of their election, shall be citizens of Pennsylvania, resident therein, and they shall serve for one year, next ensuing their election, and until other directors their office, shall be chosen, and no longer: Each director at the time of his Directors tenure of How vacan. cies may be supplied, Their pow ers election, and during his continuance as such, shall be the holder of at least five shares, in his own right: At the first meeting after their election the directors shall choose one of their number as president, and in case of the death, resignation or inability of the president or any director, the vacancy shall be supplied by the board of directors for the remainder of the period, only during which such president or director was elected to serve: The directors for the time being (besides the other powers herein given,) shall and may appoint such officers, clerks and other persons, as they may deem necessary and proper for transacting the business of the company, allowing a reasonable compensation for the services of such officers, clerks and other persons respectively; they shall and may also exercise all such powers, and perform all such duties for the well governing and ordering To lay a of the affairs of the said company, as the stockholders at any statement of general meeting shall declare and prescribe, and they shall prethe affairs of pare and lay before the stockholders at each and every general the company before the meeting, a full and true statement of the affairs of the com Stockhol ders. What kinds of Insur ance may be effected May lend money upon bottomry &c All policies &c. to be pany. ARTICLE III. Of the objects and contracts to which the capital of the company shall be applied. First. The president and directors shall have full power and authority in the name and on behalf of the company, to make all kinds of marine insurance, all kinds of insurance upon the inland transportation of goods, wares and merchandizes, all kinds of insurances against fire, in town or country, in this state, or in any other of the United States, and they may also lend money upon bottomry and respondentia, and generally to do, transact and perform all matters and things relating to the said objects, subject always to the regulations and restrictions herein contained, and to such regulations and restrictions as the stockholders shall from time to time devise and prescribe. Second. All policies of insurance, and other contracts and engagements, may be made and entered into on behalf of the subscribed company, in pursuance and by virtue of this act, as well with the by the Presi- members of the company individually, as with other persons, shall be subscribed by the president, as president of "The losses to be United States Insurance Company," and all losses arising on any paid out of policy so subscribed, shall be adjusted and paid by the president dent, And all and directors, agreeably to the terms of the policy, out of the the joint joint funds of the company exclusively. ARTICLE IV. funds of the Company. Of the permanent rules for transacting the business of the company. Directors to Who shall attend in ro First. The directors shall meet as a board, and shall also di- be divided, vide themselves into committees, each committee consisting of &c. at least two directors: The committees shall attend in weekly rotation, at the office of the company, and together with the tation. president, shall have full power and authority to transact the And with current business of the company, subject always to the provi- the Presisions contained in these articles, to the rules and regulations made and established by the stockholders, and to the orders and in- current structions of the board of directors. dent may transact the business, &c. Stated meet ings to be Absence of, Second. The board of directors shall hold stated meetings at least once in every fortnight, and occasional meetings whenever sum- held, &c. moned by the president: The president shall preside at all meet- President to ings of the board, and in case of his sickness or necessary ab- preside. sence, his place may be supplied by any other director, who how sup shall be appointed by the board of directors: A quorum of the plied. board shall consist of five directors, the president being one, Five Direcbut in his absence, the quorum shall consist of at least eight stitute a directors: All questions before the board shall be decided viva Board. voce, by a majority of votes of the directors present, and no Questions vote shall be reconsidered by a smaller number of directors than before to be were present, when the vote was originally taken. tors to con decided viva voce. be declared be divided. X Third. The directors shall on the first Tuesday of December, When diviand on the first Tuesday of June, in each and every year, de- dends shall clare a dividend of so much of the profits of the company as to and paid. them shall appear advisable; and such dividend shall be paid to Premiums the respective stockholders, or to their respective agents duly on undecided empowered, in ten days after declaring the same, but the monies risks not to received as premiums on risks which shall be undetermined at the time of declaring the dividends respectively, shall not be computed as part of the profits of the company. Fourth. In case any loss shall at any time happen by which the When the capital stock of the company shall be diminished, no dividend capital shall shall be made until the amount of such diminution shall be re- ed, &c. placed and added to the capital: And any president and every Penalty on director consenting to declare, make and pay any dividend un- so doing, til the diminution is so replaced shall be accountable for and pay to the company for their use, the amount of the dividend declared and paid in violation of the prohibition aforesaid. be diminish SECT. IV. And be it further enacted by the authority aforesaid, One per cent That there shall be paid into the treasury of this commonwealth to be paid by by the said company, one per cent annually, on the amount of the Comtheir capital stock whenever the company divides more than nine pany, &c. per cent. per annum on such capital: And it shall be the duty of dividend to Amount of the prsident. Proviso. be proven by the president to prove upon oath or affirmation, before the may. the oath of or of the city of Philadelphia, the amount of dividends made within each year, and cause the same to be laid before the legislature: Provided, The same shall not take effect until after the expiration of the several acts of incorporation heretofore granted to the other six insurance companies now chartered in the city of Philadelphia, which will be on the first day of January, in the year of our Lord, one thousand eight hundred and fifteen, nor then, unless the same condition shall be attached to charters of insurance companies thereafter granted. this act. Powers reserved by SECT. V. And be it further enacted by the authority aforesaid, Limitation of That this act shall be and continue in force until the first day of It shall not January, which will be in the year of our Lord, one thousand affect past eight hundred and twenty-seven: Provided, That for the li transactions. quidation and settlement of all the past transactions and accounts of the said company, the corporate powers thereof shall be and continue effectual to all intents and purposes: And provided furthe legislather, That if at any time hereafter it shall appear to the legislature, that the operation of the privileges hereby granted to the said company, are injurious to the interest of the citizens of this commonwealth, or to the trade of the United States, the power of the legislature to repeal or annul this act, shall in no wise be denied, but such repeal shall not affect any engagement made previously thereto by said company. ture, &c. JOHN WEBER, Speaker of the House of Representatives. P. C. LANE, Speaker of the Senate. APPROVED the tenth day of March, one thousand eight hun dred and ten. CHAPTER LVI. SIMON SNYDER. Loan to be granted to the commis Mercer county. An ACT authorizing the loan of money from the state to the commissioners of Mercer county. SECT. I. BE it enacted by the Senate and House of Representatives of the Commonwealth of Pennsylvania, in General sioners of Assembly met, and it is hereby enacted by the authority of the same, That a loan be granted from the state to the commissioners of Mercer county, of three thousand dollars, for the use of the county; to be paid on a warrant from the governor, out of any money in the state treasury, not otherwise appropriated. Provided, That the said commissioners shall first give bond, with warrant of attorney, to confess judgment to the commonwealth, Commis sioners to give bond &c. Times of payment. with sufficient security to the satisfaction of the governor, for the payment of the said loan, in three equal annual instalments, to commence three years from and after the passing of this act, with interest from the reception of said loan. JOHN WEBER, Speaker of the House of Representatives. P. C. LANE, Speaker of the Senate. APPROVED-the tenth day of March, one thousand eight hundred and ten. :0: SIMON SNYDER CHAPTER LVII. An ACT for the relief of Patrick McGee. WHEREAS it appears that Patrick M'Gee enlisted in cap tain Huston's company, col. Frederick Watt's regiment of the flying camp, and that he was taken prisoner at Fort Washington; and after some time was liberated on parole, in a state of indisposition, and continued indisposed near a year; and that he never received any compensation for the time he was held in confinement, nor while he lay sick in consequence thereof: SECT I. BE it enacted by the Senate and House of Representatives of the Commonwealth of Pennsylvania, in General Assembly met, and it is hereby enacted by the authority of the same, That imme- $ 100 diately after the passing of this act the state treasurer be, and granted to he is hereby authorized and directed to pay to Patrick McGee, or his lawful attorney, the sum of one hundred dollars, out of any money in the treasury, not otherwise appropriated, in full for his services as aforesaid. JOHN WEBER, Speaker of the House of Representatives. P. C. LANE, Speaker of the Senate. APPROVED the tenth day of March, one thousand eight Patrick hundred and ten, SIMON SNYDER. CHAPTER LVIII. An ACT taxing certain offices. SECTION I. BE it enacted by the Senate and House of Represen tatives of the Commonwealth of Pennsylvania, in General Assembly met, and it is hereby enacted by the authority of the Prothonotasame, That the prothonotaries or clerks of the supreme courts, of ries clerks an accurate account of fees. from the first day of Octobernext.. And to fur &c. to keep the courts of nisi prius, of the courts of common pleas, of the courts of oyer and terminer and general gaol delivery, of the courts of quarter sessions of the peace, of the orphans' courts, the registers of wills, and the recorders of deeds in this commonwealth shall, from and after the first day of October next, keep, or cause to be kept a fair and accurate account of all the fees received for nish a copy services performed by them, or any person employed by them, in their respective offices; and shall annually thereafter furnish a coру of such account, upon oath or affirmation, to the auditor-general; who shall proceed to examine the accounts so furnished by the officers aforesaid; and whenever the amount of any of the said fees amount accounts shall exceed the sum of fifteen hundred dollars, the auto $1500 ditor-general shall charge the said officers respectively fifty per to be taxed. cent. on the amount of such excess: which sum, so charged, shall be paid by them into the treasury for the use of the commonwealth. thereof to the auditor general upon oath. When the the excess If two or more offices one person SECT. II. And be it further enacted by the authority aforesaid, That if two or more of the said offices shall be held by one perare held by son, the auditor-general shall add together the fees received in the offices so held, and shall charge the same per centage on the aggregate amount of the fees received by such persons, as gate amount is directed in the first section of this act to be paid as is therein directed: Provided, That nothing in this act shall discharge any them to be officer from accounting to the proper officer for any fees he may the aggre of fees re ceived in taxed as aforesaid. Penalty on any officer refusing to account, &c. have received previous to the first day of October next: And provided also, That if any person holding an office or offices enumerated in the first section of this act, shall neglect or refuse to comply with the provisions thereof, such neglect or refusal shall be considered as a misdemeanor in office, and the governor shall remove such officer from office. SECT. III. And be it further enacted by the authority aforesaid, Auditor gen- That the auditor-general shall have the same powers to compel the said officers respectively, to furnish their accounts for settlesaid officers ment, and to compel the payment thereof as he has in other eral may compel the to account, &c. cases. SECT. IV. And be it further enacted by the authority aforesaid, Repealing That so much of every former act of assembly, as is hereby altered or supplied, be, and the same is hereby repealed. section. JOHN WEBER, Speaker of the House of Representatives. P. C. LANE, Speaker of the Senate. APPROVED-the tenth day of March, one thousand eight hun dred and ten. SIMON SNYDER. |