Shares of mi vested in a bond, and secured by a mortgage upon the said premises, which said bond and mortgage shall be made and executed by the purchaser or purchasers of the said premi- nor children ses, to the said Harriet Seely, widow, or trustee of the said how disposed Eliza, Eleanor, Francis, Thomas G., and William James, the of five minor children of her said deceased husband, and shall be conditioned for the payment unto them, when they shall respectively attain the age of twenty-one years, the sum or proportion of the said consideration money, which shall be due to them respectively, with the interest on each minor's share, from the date of the said mortgage, at the rate of six per cent. per annum, payable semi-annually unto the said trustees, for the use, benefit and behoof of the said minors, until the principal be paid; provided, that if either or any of the said Proviso. five minor children shall die before he, she, or they shall arrive at the age of twenty-one years, that then the share or proportion of the said consideration money, which would have become due and payable to him, her, or them so dying, shall become immediately due and payable, together with the interest thereon, and the said trustee shall collect and receive the same, and pay it to the persons entitled thereto according to the laws of this state. death of trustees. Sec. 5. And be it enacted, That if the said Harriet Seely, trustee, shall die before the younger surviving of the said minor children shall attain the age of twenty-one years, that Proceedings then the eldest surviving brother or sister, as the case may be, in case of of the said children shall act as trustee, with all the powers aforesaid, and shall be accountable for all monies received by him or her, upon executing a bond, in such sum as shall be designated by the Orphans' Court of Hudson county, to the Governor of this state, with approved security for the faithful performance of such trust; and the said Harriet Seely shall also give a like bond for the security of said estate before entering upon the duties of said trust. Sec. 6. And be it enacted, That the said trustee shall, Trustee to within six months after the sale of the said real estate, ex- exhibit statehibit under oath to the Surrogate of the said county of Hud- ment, son, an exact statement of the amount of sales, and the amount she has received for the same, together with the costs and charges attending the same, and the amount belonging to each heir respectively. Passed February 11, 1844. Esther and divorced. AN ACT to divorce Esther Minor from her husband Sec. 1. BE IT ENACTED by the Council and General Assembly of this state, and it is hereby enacted by the auAustin Minor thority of the same, That Esther Minor, of the county of Monmouth, be, and she hereby is divorced from her husband Austin Minor, and the marriage contract now existing between them be, and the same is hereby dissolved. Passed, February 13, 1844. Names of corporation. AN ACT to incorporate the Essex County Mutual Sec. 1. BE IT ENACTED by the Council and General Assembly of this State, and it is hereby enacted by the authority of the same, That Ira Dodd, William R. Peters, Caleb D. Baldwin, Charles Wharry, Calvin Dodd, Philip Kingsly, Wheeler Lindsly, Araon B. Harrison, Timothy W. Mulford, Jonathan Provost, Caleb D. Harrison, Francis R.Post, John Munn, Jarred E. Harrison, Isaac D. Dodd, and all other persons who may hereafter associate with them, in the manner herein prescribed, shall be a corporation, by the name of Style of In- "The Essex County Mutual Insurance Company," for the purpose of insuring their respective dwelling-houses, stores, shops and other buildings, household furniture, merchandize and other property against loss or damage by fire; and by that name they and their successors may have perpetual succession, and shall have power to sue and be sued, and to defend and be defended, in all courts, whether in law or equity, and by that name may, also, have, purchase, possess and enjoy, to them and to their successors, lands, tenements and hereditaments, goods, chattles and effects, of what nature and kind soever, necessary for the purposes of said corporation, and the same may grant, demise, alien and dispose of at pleasure, for the benefit of said company; and may, also, have a common seal, and alter and renew the same at pleasure; also, Powers. may make and establish such by-laws and regulations as to them shall seem necessary and expedient for the well ordering and government of said institution, and put the same into execution :-Provided, that they be not contrary to the constitution or laws of this State, or of the United States. Proviso. suring, to be Sec. 2. And be it enacted, That all persons who shall insure with the said incorporation, and, also, their heirs, execu- Persons intors, administrators and assigns, continuing to be insured in members of said incorporation, as hereinafter provided, shall thereby become incorporation members thereof, during the period they shall remain insured by said corporation, and no longer. Affairs of cor ors. Sec. 3. And be it enacted, That all the affairs, property, and concerns of said corporation shall be managed and conducted by fifteen directors, who shall continue in office for poration to one year, and until others shall be chosen in their places, all be managed of whom shall be members of the said corporation, shall take by 15 directan oath or affirmation of office, and choose out of their body a President. All vacancies may be filled for the remainder of the year, by such person or persons as a majority of the board of directors, for the time being may appoint; and a majority of the whole shall constitute a quorum for the transaction of business. Sec. 4. And be it enacted, That Ira Dodd, William R. First DirectPeters, Caleb D. Baldwin, Charles Wharry, Calvin Dodd, ors. Philip Kingsly, Wheeler Lindsly, Aaron B. Harrison, Jonathan Provost, Caleb D. Harrison, Timothy W. Mulford, Francis R. Post, John Munn, Jared E. Harrison, and Isaac D. Dodd, shall be the first directors of said corporation; and that Time and annually, hereafter, a board of directors may be elected at such mode of antime and place, in the county of Essex, and State of New tual election Jersey, as the said corporation in their by-laws shall appoint, of which election due notice shall be given in, at least, one of the public newspapers, printed in said county, for two weeks, immediately preceding such election; and it shall be the duty of the board of directors, for the time being, to appoint three discreet persons, not members of said board, to be inspectors of such election, and to count the votes that may be given in, and to declare the result of such election, which shall be by a plurality of the votes of the members, or their proxies, then present, allowing one vote to each member for every hundred dollars insured in said company; and it shall be the duty of such inspectors, or a majority of them, to make and sign a certificate of the result of such election, stating who are elected by the greatest number of votes, and to deliver such certificate to the Secretary of the company, for the time being, which certificate shall be filed and recorded by the Secretary and be conclusive evidence of the result of such election, until set aside by some court, having competent authority to do so. rectors to ap. as may Sec. 5. And be it enacted, That the board of directors. Board of di- may appoint a Secretary and such other officers and agents be requisite for effecting the business of said company, point officers, and allow them such compensation as they may deem reasonable, and also, determine the rates of insurance, the sum to be insured, and the sum to be deposited for any insurance. &c. without seal. Sec. 6. And be it enacted, That all policies or contracts founded thereon, which shall be made or entered into by the Policies val- said company, may be made under the seal thereof, and shall id with or be subscribed by the President, and attested by the Secretary, and being so subscribed and attested, shall be binding and obligatory upon said company; and the company shall be liable for all loss or damage sustained by fire or other casualty, agreeably to and on such terms and conditions as shall be contained in the policy. Sec. 7. And be it enacted, That every person who shall become a member of said corporation, by effecting insurance Terms of ef- therein, shall, before he receives his policy, deposite his profecting in surance. Company may loan money. Policy may surrendered when proper misory note for such a sum of money as shall be determined by the directors, and that a part, not exceeding five per cent., of said note, shall be immediately paid, and the remainder of said deposite note shall be payable, in part or the whole at any time when the directors shall deem the same requisite for the payment of losses by fire and such incidental expenses as shall 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 accruing during said term, shall be relinquished and given up to the maker thereof; and it shall be lawful for said company to loan or put out on interest their moneys or any part thereof not immediately wanted for the purposes of said corporation, on bonds and mortgages on real estate, or may invest the same or any part thereof in government or other stocks, and may from time to time, call in such moneys or change such investments. Sec. 8. And be it enacted, That when any property insured by the said corporation shall be alienated by sale or otherwise, the policy of such insurance may be surrendered to the directors of said company to be cancelled; and upon such ty is aliena- surrender the assured shall be entitled to receive his deposit ted, note or notes, upon the payment of his proportion of all losses and expenses that have 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 deposit or premium note or notes, as shall remain unpaid; and by such ratification and confirmation such grantees or alienees, 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 insured was entitled and subjected. proportion to Sec. 9. And be it enacted, That every member of said company shall be bound to pay for losses and such necessary expenses as aforesaid, accruing in and to said company, in Members proportion to the amount of his deposit note or notes; and all bound to pay buildings insured by said company, together with the right, for losses. title and interest, of the assured to the lands on which they their amount stand, shall be, and they are hereby pledged to said company; of deposit and the said company shall have a lien thereon, in the nature notes, of a mortgage, to the amount of his deposit note, which shall continue during his policy and commence whenever the said company shall file with, and have entered in the book of mortgages, kept by the Clerk of the county where the property is situate, a memorandum of the name of the insured, a description of the property, the amount of the deposit note or notes, and the term for which said policy shall continue. site notes. Sec. 10. And be it enacted, That suits at law or in equity, suits may be may be maintained by said corporation against any of its maintained members, for the collection of their deposit notes, or any against memassessment thereon, or for any other cause relating to the berstor dejobusiness of said corporation; also, suits at law or in equity, may be prosecuted and maintained by any member against said corporation for losses or damages by fire, if payment be withheld more than three months after the company are duly notified of such loss or damage; 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 cause, on account of his being a member of said corporation. Sec. 11. And be it enacted, That the directors, shall, after receiving notice of any loss or damage by fire, sustained by Duties of di any member, and ascertaining the same, or after the rendition rectors in ascertaining of any judgment against said company for loss or damage, loss by fire. settle and determine the sums to be paid by the several members thereof, as their respective proportions of said 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 deposit 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 the space of thirty days after the publication of said notice, neglect or refuse to pay the sum assessed, upon him as his proportion of any loss as |