Citizens Insurance Company of Atlanta. corporators meeting. SEC. XI. That any three of the persons herein named as cor-Any tho porators may call the first meeting by advertising the same for may call first three successive weeks, in two public journals in the city of Augusta. SEC. XII. That any person insured shall have the right to re- Right to return his policy, and demand his note at any time before it would turn policy. expire by its own limitation; Provided, there is no unpaid assessment upon the note, or losses unprovided for. Proviso not a parly Any member shall be a SEC. XIII. That in all suits at law or in equity, prosecuted for or against said corporation, any member thereof, not being a party in his individual character to such suit or suits, shall be a competent competent witness. SEC. XIV. Repeals conflicting laws. (No. 148.) witness. An Act to incorporate the Citizens Insurance Company of Atlanta. SEC. I. Be it enacted by the General Assembly of the State of Georgia, That Samuel R. McCamey, John C. Whitner, John L. Bridges, William H. Hancock, A. P. Bell, J. R. Barrick, V. A. Gaskill, John M. Johnson, M. R. Bell, J. F. B. Jackson, and Perino Brown, and their Corporators. successors, be, and they are hereby created a body politic, to be Name. known as "the Citizens Insurance Company of Atlanta" for the purpose of doing a general Insurance business, with power to sue Power and be sued, to buy, own, enjoy and convey property, to make, break and alter a common seal at pleasure, to appoint agents, and to ordain, establish, and put into execution, such by-laws, rules and regulations, as shall be necessary and convenient for the government of said Corporation, and for carrying into effect the object and purposes of the same, not inconsistent with the laws of this State, and of the United States. SEC. II. That the capital of said Company shall be two hundred capital stock. thousand dollars, but may be increased to two millions of dollars, (if the stock plan be adopted as hereinafter provided,) that the said capital shall be divided into shares of one hundred dollars each, that one vote shall be allowed for each share, and absent Stockhol-Shares and ders may vote by proxy. But the said Company may commence business whenever one hundred thousand dollars of its capital has business. been subscribed, and twenty-five per centum of the same has been When. paid up in lawful money. scription. SEC. III. That the said Corporators, or any five of them, may meet in Atlanta, any time within one year from the passage of this Act, and open books of subscription, at such times and places as Books of sub they deem proper, and after one hundred thousand dollars has been subscribed, they shall call a meeting of the Stockholders who may proceed to elect a Board of Directors, of not more than nine nor less than five, and said Board of Directors shall have power to elect one of their number President of said Company; and that said Organisation Principal office. Annual meet ing. Act incorporating Commercial Insurance Company, of Augusta, amended. Corporators shall turn over to said Board of Directors when elected, all moneys, books and property, in their possession. The President and Directors may appoint a Secretary, and such other officers and agents they may think proper, and regulate the salaries and commissions of the same, and remove them at pleasure. SEC. IV. That the principal office of said Company shall be in the City of Atlanta, at which place, the President and Directors shall call a meeting of the Stockholders, on the second Wednesday in January in each succeeding year; notice of such meeting having been previously published for thirty days in the City papers, for the election of Directors for the ensuing year. SEC. V. That a majority of the Directors, resident in Atlanta, shall constitute a quorum for the transaction of business, and the President and Directors, shall have power to call in such installInstallments. ments of the unpaid stock, as they may deem proper for the best interests of the Company, or to meet the losses of the same; and also, to examine into and determine upon the adequacy of security of notes, for unpaid stock. privileges. SEC. VI. That all the rights, powers, privileges and immuniPower and ties heretofore granted to, and conferred upon the Southern Mutual Insurance Company, of Athens, and the Georgia Home Insurance Company, of Columbus, be, and the same are hereby granted to, and conferred upon the Citizens Insurance Company, of Atlanta, and the President and Directors of said Citizens Insurance Company, of Atlanta, may adopt the mutual or stock plan or a combination of both, as they may choose. May insure dents. SEC. VII. That the said Citizens Insurance Company of Atlanta, against acct- are also authorized to insure persons and property against any accident or injury to the same, occurring in any manner whatever, and against the loss, injury or destruction of property, arising from general accidents in travelling, and transportation, or transit. Benefit of whom. Duration. SEC. VIII. That Insurances may be effected for the benefit of either the insured, or of such person or persons as he or she may direct. SEC. IX. That this Charter, and all the privileges and powers. herein granted, shall continue in force for thirty years from the passage of the same, and all laws and parts of laws conflicting with the same, in any manner whatever, are hereby repealed. Approved 21st March, 1866. (No. 149.) An Act to amend an Act entitled an Act to incorporate an Insurance Company, in the City of Augusta, to be called the Commercial Insurance Company of Augusta, assented to, April 18th, 1863. SEC. I. The General Assembly of the State Georgia do enact, That section the 6th of the above recited Act, be, and the same is hereby repealed, and from and after the passage of this Act, the following shall be substituted in lieu thereof: Gate City Insurance Company, of Atlanta. Act of April. "In all cases when the claimant shall be compelled to institute a suit for the recovery of any loss on property or other assurance, made by said Company, the same shall stand in order for trial at Amendment the first term, and if the said company shall neglect or refuse to to Sec. 8th of pay such losses within six months after the happening of the same, 18th, 1863 when there is no dispute as to the amount claimed, or within ten days after final recovery against them, in cases disputed, then and in such event, this charter may be declared null and void." Approved 9th March, 1866. (No. 150.) An Act to change the name of the Confederate Fire and Marine Insurance Company, and to make more definite the liabilities of the Stockholders. Name chang SEC. I. The General Assembly of the State of Georgia do enact, That, the name of the Confederate Fire and Marine Insurance Company, ed. of Atlanta, be changed to the Empire State Insurance Company. SEC. II. That instead of section seventh in the charter of the Company, there shall be substituted the following: Charter of "That the Directors shall have power to call in any portion of said stock notes, whenever the cash on hand may be insufficient to Substitute to meet the losses of the Company, and if the owners of any stock Se shall fail or neglect to pay such installments, as may be thus called Company for, within thirty days after such call, such stock shall be forfeited to the Company, and the note shall become a lien on the property of the owners of said stock, for the benefit of the creditors of the Company." SEC. III. That these alterations shall take effect as soon as ac- When alten cepted by the Directors of the Company. Approved 24th February, 1866. (No. 151.) An Act to incorporate the Gate City Insurance Company, of the City of tions shall take effect. SEC. I. The General Assembly of Georgia do enact, That there shall be established in the City of Atlanta, an Insurance Compa- Capital stock ny, the capital stock of which shall be one hundred thousand dol- and shares. lars, with the privilege of increasing the same to two hundred and fifty thousand dollars, to be divided into such number of shares as may be determined by the Stockholders; and they may organize May organ when fifty thousand dollars of capital stock has been subscribed, and when twenty thousand dollars of said subscriptions has been paid in, the Stockholders to be liable to pay the full amount subscribed, if called upon to do so. ize. Whez Style and powers. Gate City Insurance Company of Atlanta. SEC. II. That Robert J. Lowry, William M. Lowry, James H. Corporators. Porter, William Markham, and Robert F. Maddox, or any three of them, citizens of the City of Atlanta, and their associates and successors are hereby created a body corporate and politic, under the name and style of the Gate City Insurance Company; by which name they may have, purchase, receive, possess, enjoy and retain, and sell property of all kinds; sue and be sued, plead and be impleaded, in all Courts of law or equity, have and use a common seal, which they may break, alter and renew at pleasure, elect its own officers, and make such rules and by-laws as may be deemed necessary, to carry into effect the objects of this Corporation. Directors. President. Other officers. Vacancies. Proviso. Board. Installments. SEC. III. That said Corporation shall be managed by not less than five Directors, a majority of whom shall constitute a quorum for the transaction of business, each of which Directors shall be a Stockholder to the amount of twenty-five hundred dollars, who shall be elected at such time and place as the Corporators and their successors may designate, and hold their office for one year, or until their successors are elected; the Directors aforesaid shall, out of their number, elect a President, who shall serve for twelve months, or until a successor is elected, and fill any vacancy by death or otherwise,and (in?) the office of President, and with the advice and consent of the President, elect a Secretary, actuary or any other officer or agents, whose services may be needed in carrying out the objects of this corporation; a vacancy in the Board of Directors can only be filled by the Stockholders at a meeting held after notice of the time and place of meeting; and further, that there shall be one vote for each share, and absent Stockholders may vote by proxy, provided, the party so voting as proxy, is himself a Stockholder. Powers of SEC. IV. That said President and Directors shall have power to appoint and remove at pleasure, all officers or agents, of said Corporation; they shall have power to appoint agents, and locate offices, in such places and at such times, as they shall deem best for the interest of said Company; to prescribe the duties of agents and officers, to take from them bonds for the faithful performance thereof; to appoint a President pro tem in the absence of the President; and further, that said President and Directors shall have power and authority, from time to time, to call for the payment of the unpaid stock, in such sums as they may deem proper; and said stock shall be considered and held as personal property; and upon Stockholders. the neglect or refusal of any Stock holder to pay the installments, as called for by the President and Directors, thereupon, ten days notice being given in one or more of the City papers, said Board may sell such stock at public outcry, and said delinquent Stockholders shall still remain liable for any balance due, or which may become due by him, to said Corporation, and may be sued therefor, in any Court having jurisdiction; and said President and DirecDividends. tors shall have farther power to make dividends, and fix the place Delinquent Gate City Insurance Company, of Atlanta. Powers as to Policy when and define the manner of paying the dividends, paying interest and transferring stock; and said President and Directors shall have power to give the holders of the policies of said Company, the right to participate in the net profits of the Company, to such an extent, in such manner, and upon such terms, as they shall deem proper. SEC. V. That said Corporation shall have authority to insure against losses by fire in all kinds of property, either real, personal, Insurance. or mixed; also against all the hazards of ocean, or inland navigation, and transportation of every kind; also, to make insurance on · lives, and all and every insurance appertaining to the duration of life, for such premiums as it may determine, and said Company shall be liable to make good and to pay to the several persons who may insure in said Company for the losses they may sustain, or for life insurance in accordance only with the terms of the contract, or policy issued by said Company, and no policy, or other contract, binding. of said Company, shall be binding, except it be signed by the President or Vice-President, and Secretary, or Actuary, of said Company, and said Company shall have power to receive money on deposit, to loan and borrow money, to take and give such securities therefor as may be considered best; to invest its moneys upon such terms as may be best, and transfer its property at pleasure; to purchase and discount notes, and bills of exchange, and do all other Other pow acts it may deem advisable, for the safe keeping, and secure investments of its funds, and said Company shall have power and authority to make re-insurances of any risks that may be taken by them. SEC. VI. That the said Company shall be responsible to its creditors, to the extent of its property, and the Stockholders shall be liable to the full extent of the amount of their respective stock for Company and the debts of the Company, in proportion to the number of shares held by each. ers. Liability of claims. SEC. VII. That all claims for losses against said Company shall Payment of be due, and payable in sixty days after proof of the loss has been furnished, at the office of said Company; and in disputed cases in ten days after final decision of the proper tribunal, and in each case named, the sum ascertained to be due, shall bear interest from the times made due and payable. Bills, bonds, SEC. VIII. That all bills, bonds and promissory notes, made payable at the office of said Company, shall have the same legal &c. effect, and may be subject to all legal remedies, the same as if they were made payable at any Bank in this State; Provided, nothing Proviso. herein contained shall be so construed as to authorize said Company to issue bills or notes to be used as currency. SEC. IX. That this charter shall continue and be in full force for Duration. the term of thirty years. SEC. X. That the said Stockholders shall not be exempt from the payment of the debts due by said Corporation, notwithstand- Extinotion, ing its extinction, suspension, forfeiture of charter, uon user, or ces-&o., of Comsation to transact business, but shall be held liable in all the Courts pany. |