when the directors shall deem the same requisite for the payment of losses by fire, and such incidental expenses as ahall be necessary for transacting the business of said company; and at the expiration of the term of insurance, the said note, or such part of the same as shall remain unpaid, after deducting all losses and expenses occurring during said term, shall be relinquished and given up to the maker thereof. And it shall be lawful for said corporation to loan such portion of their money on hand as may not be immediately wanted for the purposes of said corporation, to be secured by mortgage on unincumbered real estate of double the value of the sum loaned, to be surren Sec. 7. When any property insured with this corporation shall be alienated by sale or otherwise, the policy shall thereupon be void, and When policy be surrendered to the directors of said company to be cancelled; and dered, &c. upon such surrender the assured shall be entitled to receive his deposite note upon the payment of his proportion of all losses and expenses that accrued prior to such surrender; but the grantee or alienee having the policy assigned to him, may have the same ratified and confirmed to him for his own proper use and benefit, upon application to the directors and with their consent within thirty days next after such alienation, on giving proper security to the satisfaction of said directors for such portion of the deposite or premium note as shall remain unpaid; and by such ratification and confirmation, the party causing such security to be given shall be entitled to all the rights and privileges, and be subject to all the liabilities, to which the original party to whom the policy was issued was entitled and subjected under this act. losses, by proportiona Sec. 8. Every member of said company shall be bound to pay for losses and such necessary expenses as aforesaid accruing in and to Payment of said company, in proportion to the amount of his deposite note; and members, all buildings insured by said company together with the right, title and bly. interest of the assured to the lands on which they stand, shall be and are hereby pledged to said company; and said company shall have a lien thereon in nature of a mortgage, to the amount of his deposite note, which shall continue during his policy; the lien to take effect whenever the said company shall file with and have entered in the book of mortgages kept by the register of the county of Macomb, a memorandum of the name of the individual insured, a description of the pro Suits against members. Directors may assess loss. perty, the amount of the deposite note, and the term for which said policy shall continue. Sec. 9. Suits at law may be maintained by said corporation against any of its members, for the collection of said deposite notes, or any assessments thereon, or for any other cause relating to the business of said corporation; also suits at law may be prosecuted and maintained by any member against said corporation, for losses or damage by fire, if payment is withheld more than three months after the company are duly notified of such losses; and no member of the corporation not being in his individual capacity a party to such suit, shall be incompetent as a witness in any such cause on account of his being a member of said company. Sec. 10. The directors shall, after receiving notice of any loss or and apport'n damage by fire, sustained by any member, and ascertaining the same, or after the rendition of any judgment as aforesaid against said company, for loss or damage, settle and determine the sums to be paid by the several members thereof, as their respective proportion of such loss, and publish the same in such manner as they shall see fit, or as the by-laws shall have prescribed; and the sum to be paid by each member shall always be in proportion to the original amount of his deposite note or notes, and shall be paid to the treasurer within thirty days next after the publication of said notice. And if any member shall for how paid, &c the space of thirty days after the publication of said notice, neglect or refuse to pay the same assessed upon him, as his proportion of any loss as aforesaid, in such case the directors may sue for and recover the whole amount of his deposite note or notes, with costs of suit; and the amount thus collected shall remain in the treasury of said company subject to the payment of such losses and expenses as have accrued or may thereafter occur; and the balance, if any remain, shall be returned to the party from whom it was collected, on demand after thirty days from the expiration of the term for which insurance was made. Assessments Assessment of loss, be notes. Sec. 11. If the whole amount of deposite notes should be insufficient yond amount to pay the loss occasioned by any fire or fires, in such case the sufferof deposited ers insured by said company, shall receive towards making good their respective losses a proportionate dividend of the whole amount of said notes, according to the sums by them respectively insured; in addition thereto a sum to be assessed on all the members of said company on the same principle as regulated the amount of their respective deposite notes, but not exceeding one dollar on every hundred dollars by them respectively insured; and no member shall ever be required to pay for any loss occasioned by fire at any one time, more than one dollar on every hundred dollars insured in said company, in addition to the amount of his deposite note, nor more than that amount for any such loss, after his said note shall have been paid in and expended; but any member upon payment of the whole of his deposite note, and surrendering his policy before any subsequent loss or expense has occurred, may be discharged from said company. Limitation fice. Sec. 12. No policy shall be issued by said company until application shall be made for insurance for ten thousand dollars at least. Sec. 13. The operations and business of the corporation shall be Business of carried on and conducted at such place in the village of Mt. Clemens as shall be designated by a majority of the company present at any re-. gular mee ing. Duration of Sec. 14. This act shall continue and be in force thirty years; and the corporation hereby created shall be subject to the provisions of the charter. fifty-fifth chapter of the revised statutes of this state so far as the same are applicable. Sec. 15. This act shall take effect from and after its passage. Approved April 3, 1848. No. 210. AN ACT to authorize the supervisors of Berrien county to construct and maintain certain bridges in that county. Supervisors tain bridges. Section 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That the board of supervisors of the county of Berrien are hereby authorized and empowered, in their dis- to build cercretion, to erect and keep up and maintain four bridges across the river St. Joseph within the limits of said county, one of said bridges to be at the village of Bertrand, either where the present bridge now stands, or not more than twenty feet distant therefrom; one other of said bridges to be at the village of Niles, at the foot of Main street, and a continuation thereof to the west bank of the river; one other of said bridges to be at the village of Berrien, where the bridge now May repair or rebuild bridges. Bridge at supervisors. stands, or not more than ten feet distant therefrom; and the other and fourth of said bridges to be at or near the village of St. Joseph. Sec. 2. The said board of supervisors may, in their discretion, repair or rebuild either of the present bridges at Bertrand, Berrien or St. Joseph aforesaid, and shall make provisions therefor, whenever said bridge, or either of them, shall need rebuilding or repairing. Sec. 3. The said board of supervisors shall, at their next meeting, in their discretion, make appropriation and provision for erecting the said bridge at Niles, and for making all necessary repairs on the other of said bridges. Sec. 4. The said board of supervisors is authorized to build, erect Powers of and maintain in said river, all necessary and proper abutments, piers, ice breakers, ice holders, guards and braces, suitable and proper for the support, erection and protection of said bridges, doing and causing as little obstruction in said river as may be consistent with the object of said works, erections and fixtures. To levy tax for expense &e. Sec. 5. The said board of supervisors shall, in order to defray the of building, expenses of erecting, repairing and maintaining said bridges, collect by general tax, on the taxable property of said county, sufficient money therefor; the same to be levied and collected at the time, and in the manner, as the state, county and township taxes are collected: Provided, That neither of said bridges shall be built at an expense to the county of over three thousand dollars. Sec. 6. The said board of supervisors may appropriate any surplus money from the treasury to aid in erecting and repairing said bridges. Sec. 7. This act shall take effect from and after its passage. Approved April 3, 1848. WB Sherwood. No. 211. AN ACT making appropriations to defray certain expenses authorized for the year eighteen hundred and forty-eight. Section 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That the following sums be and the same are hereby appropriated out of the general fund: to W. B. Sherwood for publishing the senatorial canvass for the sixth district in the M Collamer. ED Ellis. A Kaminzky SC Herring. year eighteen hundred and forty-seven, five dollars and twenty cents; to Myron Collamer for furniture by him furnished for the use of the supreme court at Jackson, thirty dollars and fifty cents; to Edward D. Ellis for publishing in the American Vineyard notice of State Treasurer and Secretary for proposals for printing and binding for eighteen hundred and forty-eight, one dollar and sixty cents; to Anthony Kaminzky for printing the Governor's message in the Dutch, French and German languages, and folding and stitching the same, for two reams of paper and packing messages, in all one hundred and nineteen dollars and forty cents; to Silas C. Herring for one Salamander safe, one lock and one padlock furnished to the State Treasurer, two hundred and forty-eight dollars; to Lawson S. Warner for LS Warner attendance as a witness before a committee of the House in the matter of the contested seat from Chippewa county, and traveling expenses, seven dollars; to Timothy S. Smith for like attendance and TS Smith. traveling expenses, twenty dollars; to E. G. Seymour for like attend- E G Seymo'r ance and for traveling expenses, ten dollars; to John N. Ingersoll for like attendance, two dollars; to John G. Dixon for serving process in J G Dixon.' chancery upon the relation of Henry N. Walker, late Attorney General, vs. the president, directors and company of the Bank of Macomb County and Aaron Weeks, one dollar and thirteen cents; to W. W. W W Law. Lawrence, clerk of the supreme court, for services rendered and money paid in removing the records of the supreme court from Ann Arbor to Jackson, twenty dollars; to G. F. Rood & Co. for ledger fur- G. F. Rood nished Auditor General, twenty-four dollars; (also for stationery furnished the Secretary of State in May and November, eighteen hundred and forty-seven, eight dollars and thirteen cents;) also for stationery furnished the second circuit court in chancery in February and December, eighteen hundred forty-seven, twenty dollars and thirty-five cents; also for stationery furnished the supreme court at Pontiac, eighteen hundred and forty-seven, fiifteen dollars and twenty-five cents; also for stationery furnished the enrolling and engrossing clerk of the House of Representatives in eighteen hundred and forty-seven, one dollar. To A. W. Hovey, Clerk of the House of Representatives, to pay for newspapers furnished to members of the House at the present session from other States, upon the order of said clerk, thirty-five dollars A Weeks. rence. & Co. A W Hovey. |