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THOMAS SWANN, ESQUIRE, GOVERNOR. 139
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its concerns, and to carry into effect the provisions
of this Act, the same not being contrary to the
Constitution and laws of this State or of the United
States.
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Sec. 4. And be it enacted, That any member of
said Company may elect whether to take stock or
to withdraw from said Company and receive his
proportion of said surplus or assets of the Com-
pany, under Section one of the amendatory Act
passed at January Session eighteen hundred and
sixty-seven.
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May with-
draw.
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Sec. 5. And be it enacted, That the said Com-
pany are hereby authorized to cancel all policies
now in force at the expiration of the several risks,
and to cancel all premium notes and judgments
given by the members, as required by the original
Act, and its several supplements ; and to issue
new policies covering the same risks, and to make
insurance on dwelling houses, stores and all kinds
of real and personal property, situated either in
or out of the State, against loss or damage by fire.
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Cancel poli-
cies,
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Sec. 6. And be it enactde, That the officers of
the Company shall, within one month after the
expiration of the fiscal year, which shall be deemed
to expire January the first, eighteen hundred and
sixty-nine, and annually thereafter, cause an esti-
mate to be made of the profits of said Company
during the preceding fiscal year, in which estimate
the losses and expenses of said Company for the year
shall be deducted from the earnings of said Com-
pany and the income of its capital and invested
accumulations during the same year, the balance,
if any, shall be deemed the profits of the said Com-
pany for such year, and out of said profits the
Board of Directors may declare such dividend as
to them may seem advisable, and in case of any
loss or losses, whereby the capital stock shall be
diminished, no subsequent dividend shall be made
until a sum equal to such diminution, and arising
from the profits of the Company, shall have been
added to the capital.
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Estimate
property.
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Sec. T. And be it enacted, That the annual elec-
tion for Directors of said Company shall be held
upon the second Monday of January in each, year,
or within ninety days thereafter if the election
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Dividend,
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