OF CORPORATIONS. law and that if the trust fund or estate shall be satisfactorily having be SECTION 8. No company having signed any such bond, Company undertaking or obligation shall be permitted to deny its cor- come surety porate power to execute such instrument or incur such lia- may not bility, in any proceeding to enforce liability against it there- corporate under. power to do so. Titles to SECTION 9. Nothing in this act shall be construed as conferring any power or right upon such companies to guar-real estate antee titles to real estate. SECTION 10. All laws or parts of laws in conflict herewith are hereby repealed. SECTION II. This act shall take effect and be in force from and after the first day of July, A. D. 1895. Passed at Dover, May 6, 1895. not to be guaranteed. CHAPTER 74. OF CORPORATIONS. A FURTHER SUPPLEMENT to an act to incorporate the New Castle Be it enacted by the Senate and House of Representatives SECTION I. That the corporation created by the act to May insure which this is a supplement shall be and the same is hereby lightning * So enrolled. against whether OF CORPORATIONS. authorized to insure against loss or damage to property by fire ensues lightning, whether fire ensues or not, and such insurance or not. may be either by separate policy of insurance or by a condition included in, endorsed on, or annexed to any policy of insurance against loss by fire, issued or to be issued by the said company; and the said company is further hereby May do any authorized to transact any kind of insurance business which insurance business. any other insurance company is legally authorized to transact in this State. SECTION 2. This act shall be deemed and taken to be a public act. Passed at Dover, February 5, 1895. Authorized against CHAPTER 75. OF CORPORATIONS. A FURTHER SUPPLEMENT to the act entitled "An act to incorporate the Farmers' Mutual Fire Insurance Company of St. Georges and Appоquinimink Hundreds in New Castle County", granting to said Company power to insure real and personal Property against loss or damage by Lightning. Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met (twothirds of each branch of the Legislature concurring herein): SECTION I. That the act entitled "An act to incorporate the Farmers' Mutual Fire Insurance Company of St. Georges and Appoquinimink Hundreds in New Castle County", passed January 31st, 1849, as amended by the act passed January 22d, 1869, and by the act passed March 16th, 1877, and by the act passed March 4th, 1881, be and the same is hereby amended as follows: In addition to the power heretofore granted to said company to insure to insure against loss or damage by fire, real and personal proplightning. erty in any part of the State of Delaware and in the Eastern Shore counties of the State of Maryland, the said company is hereby authorized and empowered to insure against loss or OF CORPORATIONS. damage by lightning, real and personal property, within the SECTION 2. That this act shall be deemed and taken to Passed at Dover, March 19, 1895. CHAPTER 76. OF CORPORATIONS. AN ACT to incorporate "The Sussex Mutual Insurance Company". SECTION I. That Elihu J. Morris, Dr. William P. Orr, Corporators OF CORPORATIONS. of said corporation, provided the same shall not be repugnant to the constitution and laws of this State or of the United States; and by that name shall have continuance and Continued succession for the term of twenty years from and after the for 20 years. passage of this act. And further provided, that this act No banking shall not be construed to confer banking powers. powers. First SECTION 2. The persons named in the first section of directors. this act shall be the first directors of the corporation hereby Vacancy. created. Any vacancy occurring in the board by death, resignation, refusal to serve or otherwise, may be filled by the remaining members of the board until the first annual meetMeetings to ing. The meetings of the said corporation shall be held and the business of the corporation shall be carried on and conducted in the town of Lewes, in the county of Sussex, State of Delaware, at such place as shall be designated by a resolution of the board of directors. be held in Lewes. SECTION 3. The company hereby incorporated shall go into operation whenever in the judgment of the board of may begin. directors application for insurance to said board of directors When business Directors. Annual election. Terms. will warrant it. SECTION 4. The affairs of said company shall be conducted by a board of nine directors who shall be elected at the annual meeting on the third Wednesday in January, three for one year, three for two years, and three for three years, and until others are chosen in their stead at each annual meeting held on the third Wednesday in January, and annually thereafter three directors shall be elected to serve for the period of three years and until their successors are chosen in their stead. Directors elected at and after the Vacancies, annual meetings shall be members of the company. Vacancies occurring in the board of directors, after the first annual meeting, by death, resignation, refusal to serve, ceasing to How filled. be a member, or otherwise, may be filled by the remaining members of the board, to continue until the next annual meeting, when any such vacancy shall be filled by the members of the company by election for the residue of the unexpired term. The annual meetings of the company shall be held between the hours of 12 o'clock M. and 4 o'clock P. M., at the office of the company, and prior notice of each of such meetings shall be given by advertisement in one or more newspapers in this State for at least two weeks. The directors may choose a president, vice-president, secretary, treasurer, surveyors, appraisers, and other necessary agents. The Hour of annual meeting. Notice of meeting. Officers. ug the nd he ct of T OF CORPORATIONS. vice-president shall have such powers as may be conferred Powers. by ballot. tion to SECTION 5. The elections shall be by ballot, and by plu- Election rality of votes, and the result shall be certified by the judges who shall be three members who are not directors. The right to vote shall be according to the following regulations: Every member of the company shall be entitled to one vote, Qualificaand in addition thereto shall be entitled to one vote for each vote. dollar of interest paid on his premium note held by said company in excess of one dollar. No person shall be entitled to vote at any election who is in arrears with the payment of his interest on said notes held by said company. SECTION 6. The directors may settle rates of insurance, Powers the sum to be insured, the amount of deposit notes, the form of directors. of policy, and all other matters necessary to effect the objects and purposes of this act, subject to the by-laws and also to the control of the members by a general resolution. SECTION 7. To procure insurance, application shall be Application made as required by the by-laws, stating truly the description for insurof the property, which shall be valued by a director or some person duly authorized by the company, and the insurance shall be subject to the terms and conditions expressed in the policy or endorsed thereon. SECTION 8. Every person who shall become a member of the corporation by insuring therein shall execute to the com- Premium pany a note or bill obligatory for such sum, being a per cent- notes. age on the amount insured, as a director shall require in proportion to the risk, payable in whole or in part at any time when it shall be necessary for losses or incidental expenses, and for the purpose of raising a contingent fund to pay losses Premiums. and expenses he may be required to pay interest thereon annually in advance; but such payments and all payments |