&c. in cases not provided for by such Municipality; and such Municipality Municipality may pay for all instalments of the stock which may pay calls, they subscribe for and acquire, out of any moneys belonging to such Municipality and not specially appropriated to any other purpose, and may apply the money arising from the dividends or profits on the said stock, or from the sale thereof, to any purpose to which unappropriated moneys belonging to such Municipality may be lawfully applied. 22 V. c. 44, s. 8. (1859.) the Company. 11. Any Municipal Corporation in Canada may lend money Municipal Corto any Company that may be formed under this Act out of any porations may moneys belonging to the Municipality, and not appropriated to lend money to any other purpose, and may effect such loan upon such terms and conditions as may be agreed upon between such Company and the Municipality making such loan, and may recover the money so lent, and may appropriate the moneys so recovered to the purposes of such Municipality. Ibid, s. 9. 12. Any such Company so to be incorporated as aforesaid Recovery of may, in any Court having jurisdiction in matters of simple calls of stock. contract to the amount demanded, sue for, recover, and receive of or from any stockholder in such Company, the amount of any call or calls of stock which such stockholder may neglect to pay after public notice thereof in the newspaper nearest the place where the business of the Company is being carried on as aforesaid. Ibid, s. 10. for calls. 13. In any action or suit brought by any such Company What only against any stockholder to recover any money due for any need be stated call, it shall not be necessary to set forth the special matter, but in any action it shall be sufficient for the Company to aver that the Defendant is the holder of one share or more (stating the number of shares) in the stock of the said Company, and that he is indebted to the Company in the sum of money to which the calls in arrear amount, in respect of one call or more upon one share or more, (stating the number and amount of each of such calls,) whereby an action hath accrued to the Company by virtue of this Act. Ibid, s. 11. in any such 14. On the trial or hearing of such action it shall be suffi- What only cient for the Company to prove that the Defendant, at the time need be proved of making such call, was a holder of one share or more in the action. undertaking, (and when there has been no transfer of the shares, then the proof of subscription to the original agreement to take stock shall be sufficient evidence of holding stock to the amount subscribed,) and that such call was in fact made, and notice thereof given as is required; and it shall not be necessary for the Company to prove the appointment of the Directors who made such call, or any other matter whatsoever; and thereupon the Company shall be entitled to recover the amount due upon such call with interest thereon, unless it appears that due notice of such call was not given. Ibid, s. 12. Members, &c., ny may be witnesses. 15. In any action or suit brought by or against any such of the Compa- Company upon any contract, or upon any matter or thing whatsoever, any stockholder, or any officer or servant of the Company shall be competent as a witness, and his testimony shall not be deemed inadmissible on the ground of interest, or of his being such servant or officer. 22 V. c. 44, s. 13. (1859.) Limitation of done under this Act. 16. If any action or suit be brought against any person suits for things or persons for any matter or thing done in pursuance of this Act, such action or suit shall be brought within six months next after the fact committed, and not afterwards; and the Defendant or Defendants in such action or suit may plead the general issue only, and give this Act and the special matter in evidence on the trial. Ibid, s. 14. SCHEDULE A.---See s. 2. Be it remembered, that on this County of day of in the year of our Lord, one thousand eight hundred and and erecting thereon suitable buildings to be used for the purpose of holding periodical fairs or exhibitions for agricultural purposes; And we do hereby declare that the capital stock of the said Company shall be dollars, to be divided into shares at the price or sum of twenty dollars each; And we, the undersigned stockholders, do hereby agree to take and accept the number of shares, set by us opposite to our respective signatures, and we do hereby agree to pay the calls thereon, according to the provisions of the said in part recited Act, and of the rules, regulations, resolutions and By-laws of the said Company, to be made or passed in that behalf: And we do hereby nominate (the names to be here inserted) to be the first Directors of the said Company. Name. No. of Shares. Amount. TITLE 7. MUNICIPAL INSTITUTIONS. CAP. LII. An Act respecting Mutual Insurance Companies. H Amended by Call 47. 1861 ER Majesty, by and with the advice and consent of the follows: 1. Ten freeholders in any Municipality or Village may Ten freeholders call a meeting of the freeholders of such Municipality of any district or Village, to consider whether it be expedient to estab- may call a meeting to lish therein a Fire Insurance Company, on the principle of establish a Fire Mutual Insurance. 6 W. 4, c. 18, s. 1,-18 V. c. 120, s. 2,--- Company. 20 V. c. 74, s. 1. 2. In case the meeting is to be a meeting of the freeholders Meeting to be of the County, and in case one or more newspapers be published advertised. therein, such meeting shall be called by an advertisement mentioning the time, the place within the County and the object of the meeting, published for three weeks immediately preceding such meeting, in all the public newspapers published in the County. 6 W. 4, c. 18, s. 1,-18 V. c. 120, s. 2. 3. In case no newspaper be published in the County, such How if no advertisement may be posted up in some public place, in three newspaper or more Townships of the County. 6 W. 4, c. 18, s. 1,-18 V. published in c. 120, s. 2. the county. Town or Vil 4. In case the meeting is to be a meeting of the freeholders of Meeting for a Village, or of any Municipality, other than a County, the adver- establishing a tisement calling the meeting shall be published, in manner and lage Company. for the time aforesaid, in the newspaper or newspapers in or nearest to such Municipality or Village. 18 V. c. 120, s. 2. more than one 5. Nothing hereinbefore contained shall prevent the establish- There may be ing of more Mutual Insurance Companies than one in any Company in County. 18 V. c. 120, s. 1,---6 W. 4, c. 18, s. 1. the same Subscription opened if the 6. In case thirty of such freeholders at least are present at such meeting, and a majority of them determine that it is ex- book to be pedient to establish such Company, they may elect three persons majority be for from among the then present freeholders of the Municipality establishing a or Village (as the case may be) to open and keep a book, in Company. which all freeholders in the Municipality or Village may sign their names and enter the sums for which they respectively bind themselves to effect Insurance with the Company. 6 W. 4, c. 18, s. 2,--18 V. c. c. 120, s. 3. When sub to forty and the 7. Whenever forty or more persons duly qualified have scribers amount signed their names in the Subscription Book, and bound subscriptions to themselves to effect Insurance amounting together to forty thou$40,000, Com- sand dollars, or upwards, such persons and all other persons pany to be formed. Company may rate name. thereafter becoming members of the Company by effecting Insurances therein, shall be a body corporate and politic, by and under the name and style of " The Mutual Fire Insurance Company of the Municipality (naming it) or Village" (naming it), for which the Company has been established. 6 W. 4, c. 18, s. 4,--18 V. c. 120, s. 4. 8. Any such Company may, by a By-law passed in the adopt a corpo- usual manner, adopt any corporate name which the Directors deem expedient, provided they retain the appellation of Mutual, but such corporate name shall not thereafter be changed so long as the Company subsists. 22 V. c. 46, s. 2, (1859.) Company may purchase and sell Real and personal Estate. The members may mutually insure each other. Every company may di vide its business into two branches. Scale of risks ench branch. 9. Every such Company and their successors, may, by and in the Corporate name, purchase, have and hold any estate, real, personal or mixed, to and for the use of the Company, and may from time to time let, convey and otherwise depart therewith on account of and for the benefit of the Company. 6 W. 4, c. 18, s. 4,--18 V. c 120, s. 4. 10. The Company by the name aforesaid may mutually insure the respective dwelling Houses, Stores, Shops and other buildings, household furniture, and merchandise, of the members thereof, against damage or loss by fire, whether the same happens by accident, lightning, or any other means, excepting that of design in the assured, or by the invasion of an Enemy or by Insurrection. 6 W. 4, c. 18, s. 4,-18 V. c. 120, s. 4. 11. Every Company, when established, may separate their business into two branches or departments, one for the Insurance of isolated buildings and property not hazardous, and the other for Insuring buildings and property hazardous and not hazardous. 18 V. c. 120, s. 6,---20 V. c. 74. 12. The Directors of every such Company shall make a to be made for scale of risks for each branch, and direct that the accounts of each shall be kept separate and distinct the one from the other. 18 V. c. 120, s. 7. Members of 13. Members of any such Company Insuring in one branch one branch not shall not be liable for any claims on the other branch. 18 V. c. 120, s. 8. to be liable for claims on the other. Expenses to be divided be tween each branch pro portionably. 14. All necessary expenses incurred in the conducting and management of such Companies shall be assessed upon and divided between each branch in proportion to the amounts insured in such branches respectively. 18 V. c. 120, s. 8. 15. Any ten members of a newly formed Insurance Com- First meetingdany may call the first meeting of such Company, in the case of a County Insurance Company, at such time and place within the County, and in the case of any other Municipality or of a Village Mutual Insurance Company, at such time and place within the Municipality or Village, as they may determine. W. 4, c. 18, s. 23,--18 V. c. 120, s. 5. 16. They shall call such meeting, by advertising the same How called, in such of the public newspapers printed and published within the County, Municipality or Village, or nearest thereto, as they think proper, giving at least thirty days' notice of the time, place and design of such meeting, as for the purpose of choosing the first Board of Directors, of making and establishing By-Laws, and of transacting any business necessary and proper to carry this Act into effect. 6 W. 4, c. 18, s. 23,---18 V. c. 120, 8. 5. $50,000 has 17. No policy of Insurance shall be issued by a County In- No policy to surance Company until application has been made for In- issue until surance on fifty thousand dollars at the least, and in the case been applied of a Municipality other than a County, or of a Village In- for insurance. surance Company, not until application has been made for insurance on forty thousand dollars at least. 6 W. 4, c. 18, s. 23,-18 V. c. 120, s. 5 to be held by 18. Every such Company may hold lands, but such lands Limitation as only as are requisite for the accommodation of the Company in to lands, &c., relation to the convenient transaction of their business, or such the Company. lands as have been bona fide mortgaged to them by way of security, or conveyed to them in satisfaction of debts contracted in the course of their dealings, previously to such conveyance or purchased at sales upon judgments obtained for such debts. 6 W. 4, c. 18, s. 3. 19. The Company shall not deal or trade in buying or selling Company not any goods, merchandise or commodities, nor shall the Com- to trade, &c. pany or the Directors in any way exercise the business of Banking. 6 W. 4, c. 18, s. 3,-22 V. c. 46, s. 10. (1859.) nada. 20. The Company may (if the Directors thereof for the time Company may being think fit) admit as a member thereof the owner of any insure any proproperty, moveable or immoveable, lying within any part of Up- Upper Canada perty within per Canada or of Lower Canada, and may insure the same or Lower Cawhether the owner of such property be or be not a freeholder in the Municipality, or Village, in which the Company has been incorporated; and every person so admitted a member of the Company shall have the same rights and be subject to the same liabilities as the other members of the Company. 4, 5 V. c. 64, s. 1,--22 V. c. 46, s. 6. (1859). 21. Every person who becomes a member of the by effecting insurances therein, shall, before he Company Indorsed Notes receives with Company to be deposited. |