Reports Made to the ... General Assembly of the State of Illinois, Part 2

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The State, 1877

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Page 129 - Such corporation and its directors shall possess the usual powers, and be subject to the usual duties of corporations...
Page 131 - Auditor may direct. If, upon examination, he is of the opinion that such company is doing business correctly in accordance with the provisions of this act, he shall thereupon furnish the company his certificate, which shall be deemed authority to continue business the ensuing year, subject, however, to subsequent provisions of this act.
Page 125 - An act to incorporate and to govern fire. marine and inland navigation insurance companies, doing business in the State of Illinois.
Page 126 - Ha original charter to the time specified in the twenty-sixth section of this act, by altering and amending the same so as to accord with the provisions of this act. and filing a copy of such amended charter, with the declaration aforesaid, in the office of the...
Page 125 - ... commence business until agreements have been entered into for insurance with at least two hundred applicants, the premiums on which shall amount to not less than...
Page 131 - It shall be the duty of the president and secretary of every such company on the first day of January of each year, or within one month thereafter, to prepare under their own oath and transmit to the Auditorof Public Accounts, a statement of the condition...
Page 130 - It shall be the duty of the president, whenever such assessment shall have been made to immediately notify every person composing such company, personally, by an agent or by letter sent to his usual post-office address, of the amount of such loss, and the sum due from him as his share thereof, and of the time when and to whom such payment is to be made ; but such time shall not be less than thirty nor more than ninety days from the date of such notice.
Page 132 - ... then the president and secretary shall proceed to ascertain the amount of such loss or damage, and adjust the same.
Page 126 - ... intention, and with a declaration, under its corporate seal, signed by its president and two-thirds of its directors, of their desire for such extension, extend the term of its original charter to the time...
Page 129 - Any person owning property in the county for which any such company is formed may .become a member of such company by insuring therein, and shall be entitled to all the rights and privileges appertaining thereto, and no person not residing in the county in which the company is formed shall become a director of such company.

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