Powers. Responsibility. Dividends. Proviso. SECT. 3. The said company is hereby authorized and empowered to act within the limits of this Commonwealth, and under the jurisdiction of the courts thereof, as surety upon the official bond of any person to the United States or to any official thereof, to the State of Massachusetts or to any official thereof, to any county, city or town, or to any officials thereof, to any judge of probate or other court or magistrate, to any corporation or association, public or private, and upon a bond to any person or persons conditioned upon the performance of any trust. Also, upon bonds to indemnify against loss any person or persons who are responsible as surety or sureties, upon a written instrument or otherwise, for the faithful performance by others of any trust, office or duty. And in any 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. The judge of probate may allow the premium to be charged as an item in the final account. SECT. 4. The amount of the responsibility incurred by said company in behalf of any one person, partnership or company shall not exceed the amount of ten per centum upon its paid-in capital; and in the case of bonds of trustees and guardians filed in any Probate Court of this Commonwealth shall not exceed on any one bond five per centum of the net assets of the company; nor in the case of bonds by executors or administrators shall it exceed the sum of fifteen thousand dollars upon any one bond. SECT. 5. After deducting from the earnings of the company (no part of the premiums received on risks not terminated being considered earnings), and from the income of its invested funds, such an amount as shall have been required for the costs of management, and for such dividends not exceeding ten per centum per annum on the capital stock as the directors may determine upon, the residue shall Reserved fund. be annually set apart for the purpose of constituting a reserved fund for the payment of losses, until the said reserved fund shall equal onehalf the amount of the capital stock paid in; and, in case the reserved fund chall 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 case be impaired or diminished until said reserved fund shall have been exhausted: provided, that whenever the said reserved fund shall equal one-half the amount of the capital stock paid in, the earnings of the company over and above the aforesaid dividend of ten per centum per annum, and the contributions required to keep the said reserved fund entire, may thereafter be divided among the stockholders pro rata in certificate of such portions of its actual surplus as the company may from time to time determine, which shall be deemed to be an increase of its capital stock to the extent of such new certificates so issued; but no such dividend shall be made except from actual surplus funds of the company, such surplus to be computed in the manner herein set forth; and provided, also, that in closing up the affairs of said company, the amount then standing to the credit of said reserved fund shall be divided among the stockholders in proportion to their respective shares. Proviso. What may be considered earnings. Taxation. SECT. 6. At the end of each and every second year from the date of every probate risk undertaken by said company, one-third part of the premium received therefor may be considered and treated as earnings, or the whole premium upon such risks may be considered and treated as earnings upon the allowance of the final account by the court. SECT. 7. For purposes of taxation, said corporation shall be emPub. Sts. ch. 13, braced in the provisions of section thirty-eight of chapter thirteen of $38. the Public Statutes. Said corporation shall also be subject to all general provisions of law applicable to insurance companies having a specific capital. assets and SECT. 8. The said company shall publish within ten days from the Statement of first day of January, April, July and October in each year, in two or liabilities to be more newspapers published in the city of Boston, a statement of its published. assets and liabilities sworn to by one of its officers. tion of stock SECT. 9. The books and investments of said company shall be Books to be open to the inspection of the insurance commissioner and of the tax open to inspeccommissioner of the Commonwealth; also to the inspection of the holders. stockholders, subject to such limitations as may be prescribed by the by-laws of the company. Every stockholder shall be furnished with a copy of the charter and by-laws of the company. SECT. 10. This Act shall take effect upon the first day of June, A. D. eighteen hundred and eighty-two. February 21, 1882. CHAPTER 28. AN ACT CONCERNING THE CORRECTION OF ERRORS IN COPIES RETURNS. erroneous, new ordered by Pub. Sts. ch. 7, SECTION 1. If, upon examination of the copies of the records of If returns are votes as required by the forty-fifth section of the seventh chapter of incomplete, or the Public Statutes, it shall appear to the governor and council that copies may be any such copy is incomplete or erroneous, they may order a new copy governor and of the record to be made and transmitted in the manner provided for council. making and transmitting the original return. Said new copy shall be § 45. returned by the clerk of the city or town within seven days after the date of the order requiring the same to be made, and if adjudged to be correct and in conformity to the requirements of law shall thereupon have the same force and effect as an original return correctly made and transmitted. cer for neglect. SECT. 2. Any city or town officer wilfully neglecting or refusing to Penalty on offiperform the duties required of him under the preceding section shall Pub. Sts. ch. 7, be liable to the penalty provided in the sixty-fifth section of the § 65. seventh chapter of the Public Statutes. the newspapers. SECT. 3. Upon the completion of the examination of the copies of Publications in the records of votes by the governor and council, and the determination of the persons severally appearing to be elected in accordance therewith, the secretary of the Commonwealth shall furnish to every daily newspaper in the Commonwealth, and to at least one newspaper in every county where no daily newspaper is published, if such paper shall apply for the same, an abstract of the returns of votes and a statement of all cases where corrected returns have been received, showing the variations, if any, from the first return received. All copies of records of votes, whether original or corrected, shall be Copies of placed and remain on file in the office of the secretary of the Common- placed on file. wealth, and be there open to inspection by any interested person who may apply therefor. SECT. 4. This Act shall take effect upon its passage. February 21, 1882. records to be Allowance for clerical assistance. Pub. Sts. ch.5, § 18, amended. CHAPTER 29. AN ACT TO AMEND SECTION EIGHTEEN OF CHAPTER FIVE OF SECTION 1. Section eighteen of chapter five of the Public Statutes is hereby amended by striking out the words "eighteen hundred," and inserting instead thereof the words "two thousand." SECT. 2. This Act shall take effect upon its passage. February 21, 1882. Application of proceeds of sale of state prison lands in Charlestown, and old hospital estate in St. 1874, ch. 391, § 3. CHAPTER 30. AN ACT TO INCREASE THE PRISON AND HOSPITAL LOAN SINK- SECTION 1. Until the state prison at Charlestown, with the lands 21, 1882. Town to rebuild CHAPTER 31. AN ACT RELATIVE TO THE BRIDGE OVER THE MONATIQUOT The town of Braintree is hereby directed to rebuild the bridge over the Monatiquot River in said town within three years from the passage of this Act, with a draw therein not less than thirty-six feet wide; the plans for such bridge and the rebuilding thereof with all its attachments to be first approved by the board of harbor and land commissioners. February 21, 1882. Charter extended. ette, ch. 17. St. 1872, ch. 223. CHAPTER 32. AN ACT IN ADDITION TO AN "ACT TO ESTABLISH THE SOUTH The limitation now existing to the duration of the charter of the South Cove Corporation under chapter seventeen of the Acts of the year eighteen hundred and thirty-three and chapter two hundred and twenty-three of the Acts of the year eighteen hundred and seventy two is hereby repealed and annulled; but said corporation shall be and remain subject to the same duties, liabilities and restrictions as are provided by general laws applicable to such corporations. February 21, 1882. CHAPTER 33. AN ACT TO AUTHORIZE THE ESSEX INSTITUTE TO HOLD ADDI- SECTION 1. The Essex Institute, incorporated by chapter five of May hold additional personal the Acts of the year eighteen hundred and forty-eight, is hereby estate. authorized to hold personal estate, exclusive of the books, papers, and St. 1848, ch. 5. articles in the cabinets of said corporation, to an amount not exceeding one hundred thousand dollars. SECT. 2. 24, 1882. This Act shall take effect upon its passage. February CHAPTER 34. AN ACT TO INCORPORATE THE WARREN SAVINGS BANK IN SECTION 1. John W. Chadsey, William B. Ramsdell, E. F. Strick- Corporators. land, L. M. Gilbert, J. D. Rood, C. B. Elwell, E. J. Buck, J. E. Moore, E. Fairbanks, Seth Wetherbee, Job Owen, B. A. Tripp, Samuel E. Blair, Joseph B. Lombard, E. C. Sawyer, Cutler Moore, John B. Gould, John M. Drake, their associates and successors, are hereby made a corporation by the name of the Warren Savings Bank, Name and to be located in the town of Warren; with all the powers and privi- purpose. leges and subject to all the duties, liabilities and restrictions set forth duties. in the general laws which now are or may hereafter be in force relating to savings banks and institutions for savings. SECT. 2. This Act shall take effect upon its passage. February 24, 1882. Powers and CHAPTER 35. AN ACT TO AUTHORIZE THE HOUSATONIC AGRICULTURAL additional real SECTION 1. The Housatonic Agricultural Society, incorporated May hold under chapter one hundred and one of the Acts of the year eighteen estate. hundred and forty-eight, is hereby authorized to hold and manage real St. 1818, ch. 101. estate not exceeding in value thirty thousand dollars. SECT. 2. This Act shall take effect upon its passage. February 24, 1882. CHAPTER 36. AN ACT RELATIVE TO NOTICES IN CASES OF INJURIES RE- of injuries on Section nineteen of chapter fifty-two of the Public Statutes is here- Notices in cases by amended by adding thereto the following words, viz. :— :-But no highways. notice given under the provisions of this section shall be deemed to be Pub. Sts. eh. 52, § 19, amended, invalid or insufficient solely by reason of any inaccuracy in stating the time, place, or cause of the injury: provided, that it is shown that there was no intention to mislead, and that the party entitled to notice was not in fact misled thereby. February 24, 1882. Boundary line established be tween Chilmark and Tisbury. Resolves of 1881, ch. 22. Rental of Great CHAPTER 37. AN ACT TO ESTABLISH THE BOUNDARY LINE BETWEEN THE SECTION 1. The boundary line between the towns of Chilmark and Tisbury, in accordance with the report of the commissioners appointed under chapter twenty-two of the Resolves of the year eighteen hundred and eighty-one, is hereby fixed and established as follows :— Beginning at a copper bolt in a rock lying in the wash of the Vineyard Sound and marked with the letters C and T cut thereon; thence running south-easterly in a straight line to a stone monument, marked as aforesaid, standing on the ridge of a hill in land of John Davis, north-easterly of the house of the late Captain William Ferguson, now occupied by Captain Francis O. Rotch; thence running southeasterly in a straight line to the centre of a rock on or near the top of a hill known as the Great Rock; thence running south-easterly in a straight line to a stone monument, marked as aforesaid, standing in the field of John Davis, formerly known as Case's field; thence running south-easterly in a straight line to a stone monument, marked as aforesaid, standing at or near Nab's Corner on the northerly side of the south road leading from Tisbury into Chilmark, formerly known as the schoolhouse path; thence running north-easterly by the northerly side or line of said road to a stone monument, marked as aforesaid, standing on the northerly side of said road about eleven feet southwesterly from the middle line of Tyasquan Brook; thence running south-easterly across said road by a course parallel to the middle line of said brook to a stone monument, marked as aforesaid, standing on the southerly side of said road about eleven feet south-westerly from the middle line of said brook; thence running north-easterly by the southerly side or line of said road to the middle line of said brook; thence running south-easterly by the thread of the stream of said .Tyasquan Brook to the pond called Great Tisbury Pond; thence running due east from the mouth of said brook to the middle line of said pond; then turning southerly and following the courses and curves of said middle line of the pond (meaning thereby a line drawn midway between its east and west shores at natural low water mark, so as to divide said pond as nearly as may be into two equal parts, disregarding the coves and creeks of water connected therewith), to the beach or bluff on the south side of said pond at a point midway between the south-east and south-west corners thereof; thence running due south across said beach or bluff to the sea. The town of Chilmark shall embrace all the territory of the island of Martha's Vineyard between said boundary line and the town of Gay Head on the west, including also the island called No Man's Land; and the town of Tisbury shall embrace all the territory of said island of Martha's Vineyard between said boundary line and the towns of Edgartown and Cottage City on the east. SECT. 2. The towns of Chilmark and Tisbury shall each receive one-half of the rental hereafter payable under the lease of said Great Pond. February 27, 1882. |