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Further terms

SEC. 27. The preceding section shall not be conmay be fixed. strued to prevent the directors from fixing further terms and conditions, which must be complied with by the person applying for insurance, in order to secure the validity of his policy.

Losses to be paid within

three months.

If any house,

policy to be surrendered.

SEC. 28. The directors shall settle and pay all losses within three months after they shall have been notified as aforesaid, or suit may be commenced therefor, as above provided.

SEC. 29. When any house, or other building, shall &c., alienated, be alienated by sale, or otherwise, the policy shall thereupon be void, and be surrendered to the directors of said company to be cancelled; and upon such surrender, the assured shall be entitled to receive his deposite notes, upon the payment of his proportion of all losses and expenses that shall have accrued Or it may be prior to such surrender. But if the grantee or alienee shall have the policy assigned to him, he may have the same ratified and confirmed to him, for his own use and benefit, upon application to the directors, and with their consent, within thirty days next after such alienation; and the lien of the company upon the premises, as provided for in section eighteen, shall be continued in the same manner as though the premises had not been granted or conveyed.

assigned to alienee.

Privileges and liabilities of alienee.

In what case

mium to be paid.

SEC. 30. By the ratification and confirmation mentioned in the last preceding section, the said grantee or alienee shall be entitled to all the privileges, and subject to all the liabilities, to which the original party insured was entitled and subjected under this act.

SEC. 31. If any alteration should be made in any additional pre- house or building by the proprietor thereof, after insurance has been made thereon with said company, whereby it may be exposed to greater risk or hazard from fire than it was at the time it was insured, then the insurance aforesaid shall be void, unless an additional premium and deposit, after such alteration, be settled with, and paid to, the directors; but no alterations or repairs in buildings, not increasing such risk or hazard, shall in anywise effect insurance previously made thereon.

Double insurance.

SEC. 32. If insurance on any property shall be and subsist in said company and in any other office, or from or by any other person, at the same time, the insurance made in and by said company shall be void, unless such double insurance subsists with the consent of the directors, signified by endorsement

on the back of the policy, signed by the president

and secretary.

SEC. 33. Where personal property is to be insured, Insurance on the directors may require such security, on the pre-personal propmium note aforesaid, as they shall by their regula

tions determine.

erty.

SEC. 34. Conveyances of real estate, when made Conveyances by the company, must, in order to be valid, be signed by the comby the president, with the seal of the company affixed, pany. and countersigned by the secretary. An order for such sale must also have been entered on the records of the company by the authority of the directors. The acknowledgment of the president alone shall be sufficient to entitle such conveyance to be recorded.

SEC. 35. No policy shall be issued by the com- No policy to pany, until applications for insurance shall have been issue till made to the amount of at least thirty thousand dol- scribed.

lars.

$30,000 sub

SEC. 36. The first meeting of the board of direct- First meeting ors may be called by any one of their number, by of directors. advertisement in the Burlington Gazette, or by sending personal notice to each of the other directors. Such advertisement or notice must be made at least ten days previous to the day of meeting, and must specify the time and place where such meeting shall be held

SEC. 37. Any future legislature of this Territory, or This act may State, may alter or repeal this act whenever they be altered or consider the public good requires it.

APPROVED, January 25, 1839.

repealed.

INDIANS.

AN ACT to prevent the selling of spirituous liquors to Indians.

liquors to Indi

ans,

SEC. 1. Be it enacted by the Council and House of Representatives of the Territory of Iowa, That if any Persons selltavern keeper, grocery keeper, or other person, or ing, bartering, persons, shall sell, or barter, or in any manner dis- &c., spirituous pose of, any spirituous liquor, or any other liquor of intoxicating quality, to any Indian or Indians, within To be fined, this Territory, such person, or persons, shall forfeit And forfeit the and pay, for the use of the county, a fine not exceed- articles receiving one hundred dollars, nor less than twenty-five ed in exchange. dollars, to be recovered, with costs of suit, by action

of debt, in the name of the United States of America,

or by indictment, or information, in any court having competent jurisdiction to try the same; and the person or persons, so offending, shall moreover forfeit the article, of whatever nature or kind, he, she, or they have received in exchange, which shall be restored to the proper owner, upon the necessary proof Officers requir- of ownership being made, before any justice of the ed to give no peace within the Territory; and all justices of the peace, constables, and all other proper officers, are hereby authorized and required, under the penalty of forfeiture of their respective offices, to make complaint of such violations of this law as come within their knowledge.

tice of violations of this

act.

SEC. 2. This act to take effect, and be in full force, after the first day of March next.

APPROVED, January 3, 1839.

INSANE PERSONS.

AN ACT concerning Insane Persons.

SEC. 1. Be it enacted by the Council and House of Bargain, sale, Representatives of the Territory of Iowa, That any &c., by insane bargain, sale, conveyance, or act, of any person, or persons, in a state of insanity, shall be void and of no effect in law.

persons void.

Duty of district court in rela

persons.

Jury.

SEC. 2. When any district court in this Territory shall receive satisfactory information that any person tion to insane in their respective counties, having property, is or has become insane, it shall be the duty of the said court to direct the sheriff of the county to summon twelve intelligent and disinterested men of the county, impartially to inquire into the fact, and to appoint the time and place where such jury shall meet and inspect such insane person, and also to cause to come before them such persons as they may think proper to give testimony as to the insanity of such person; and if the jury, so summoned and sworn, shall decide, from such inspection and testimony, that such person is insane, and not able to take care Appointment of his or her property, the court shall proceed to appoint three suitable persons as guardians of the person and estate of such insane person, whose duty it shall be to take such care of the person and property of such insane person as may be necessary for the safety and preservation of the same.

and duty of guardians.

and personal

estate, &c.

SEC. 3. Whenever it may be thought necessary, Court may orthe district court of the county, wherein such inquest der sale of real of insanity was held, upon proper representation, may direct and order the sale of the real and personal estate of such insane person, for the support of such insane person, his or her family, the payment of his or her debts, or for the improvement thereof, and generally to act, and do what to them shall seem proper, for the benefit of the person or property of such insane person, consistent with law.

SEC. 4. As soon as it is determined by inquest, as Suits, &c., to mentioned by the second section of this act, that be suspended till the appointsuch person is insane, it is hereby declared that all ment of guardijudgments, executions, and suits pending against an. such insane person, shall be suspended until the appointment of a guardian or guardians, and then the same proceedings may be had against such guardian or guardians, whose appointment shall continue during the insanity of such insane person, to be recovered by the court for the recovery of the debts of such insane person, under the same rules, restrictions, and regulations as are prescribed by the existing laws of this Territory against administrators and executors.

erty.

SEC. 5. All persons insane, who have no property Insane persons for their support, shall be entitled to all the benefits having no propof the laws of this Territory for the relief of paupers,' and the overseers of the poor, and all other persons concerned, are directed to govern themselves according to the provisions of the laws for the relief of the poor.

APPROVED, January 19, 1839.

INTEREST.

AN ACT regulating interest on money in the Territory of Iowa.

per cent. allowed.

SEC. 1. Be it enacted by the Council and House of Representatives of the Territory of Iowa, That creditors In what cases shall be allowed to receive interest, at the rate of six interest at 6 per centum, per annum, for all moneys after they become due, on bonds, bills, promissory notes, or other instruments of writing; on any judgment recovered in any court of law, now or hereafter to be established in this Territory; on any order or decree of a court of chancery, or probate, for the payment of a specific sum of money, from the day of signing

such judgment, order or decree, until effects be sold, or satisfaction be made; likewise on money lent; on money for the forbearance of payment, whereof an express promise has not been made for the payment of interest; on money due for the settlements of accounts, from the day of liquidating the accounts between the parties, and ascertaining the balance; on money recovered to the use of another, and retained without the owner's knowledge, or retained after demand of payment; and on money withheld by any unreasonable delay of payment.

Agreement in SEC. 2. No person shall, on any contract that may writing to pay a be made directly or indirectly, take for the loan, or higher rate. use, or forbearance, of money, or other commodity, above the rate or value of six dollars for the use or forbearance of one hundred dollars, or the value thereof, for one year, and so proportionally for any greater or less sum, unless an agreement to pay a higher rate of interest be made, in writing, and signed by the party to be charged: Provided, In no case such rate of interest shall exceed the value of twenty dollars for the forbearance of one hundred dollars, for a year, and so after that rate for a greater or less sum, or a longer or shorter time.

Proviso.

Usurious part

to be forfeited,

and 25 per cent.

SEC. 3. Any person who shall, upon any contract, of any contract take, accept, or receive, by way or means of any corrupt bargain, or by covert or deceitful conveyance, or by any other ways or means whatsoever, for the forbearance on giving day of payment, for one year, above the sum of twenty dollars, for the forbearance of one hundred dollars for one year, and so after that rate for a greater or less sum, or for a longer or a shorter time, shall forfeit and pay, for every such offence, the whole of the usurious part of said contract, and twenty-five per centum interest on the said contract, before any court of competent jurisdiction, which shall be paid into the treasury of the county wherein the same shall be prosecuted: Provided, nevertheless, That nothing in this act shall extend to the letting of cattle, or other usages of like nature practiced among farmers, or to maritime contracts, bottomry, or other use of exchange, as hath heretofore been customary.

Proviso.

Repealing clause.

SEC. 4. An act of the Legislative Council of the Territory of Michigan, relating to the interest on contracts, is hereby repealed. This act to take effect and be in force from and after the first day of March next. APPROVED, December 29, 1838.

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