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Full Text of the Original Charters
WITH AMENDMENTS THERETO
Complete Copies of the By-Laws
OF FORTY-TWO LIFE INSURANCE
JANUARY 2, 1905.
609-615 Maple Ave.
Copyright, 1905, by A. J. Flitcraft.
Full Text of the Original Charters, with
Ætna Life, of Hartford, Conn.
Cal. Des Moines Life, Des Moines, Ia. Equitable, of Des Moines, Ia. Equitable, of New York. Federal Life, Chicago, Ill. Fidelity Mutual, Philadelphia, Pa. Germania, of New York. Hartford Life, Hartford, Conn. Home, of New York. John Hancock, of Boston, Mass. Manhattan, of New York. Massachusetts Mutual, of Spring
field, Mass. Metropolitan Life, of New York. Michigan Mutual, of Detroit,
National Life, U. S. A., Chi
cago, Ill. New England Mutual, of Boston,
Mass. New York Life, of New York. Northwestern Mutual, of Milwau
kee, Wis. Pacific Mutual, of California. Penn Mutual, of Philadelphia, Pa. Phænix Mutual, of Hartford,
Conn. Pittsburgh Life and Trust, Pitts
burgh, Pa. Provident Life and Trust Co., of
Philadelphia, Pa. Provident Savings Life Assurance
Society, of New York. Prudential Insurance Co. of Amer.
ica, Newark, N. J. . Reliance Life, Pittsburgh, Pa. Security Mutual Life, Bingham
ton, N. Y. Security Trust & Life Insurance
Co., New York. State Mutual, of Worcester, Mass. Travelers, of Hartford, Conn. Union Central, of Cincinnati, Ohio Union Mutual, of Portland, Me. United States, of New York. Washington, of New York.
CHARTER AND BY-LAWS OF THE AEtna LIFE INSURANCE
COMPANY. At a General Assembly of the State of Connecticut, holden
at Hartford, in the said State, on the first Wednesday of May, in the year of our Lord one thousand eight
hundred and nineteen. AN ACT TO INCORPORATE THE AETNA INSURANCE COMPANY.
SECTION 1. Be it enacted by the Senate and House of Representatives in General Assembly convened, That the subscribers to the petition, praying for an act of incorporation, with powers and privileges necessary and convenient to the business of insurance against losses by fire, &c., be and they hereby are incorporated, and made a body politic, by the name, style and title of the "Aetna Insurance Company," and by that name, style and title shall be, and hereby are empowered to purchase, receive, have, hold, possess and enjoy to themselves, and their successors, lands, tenements, rents, hereditaments, goods, chattels, and effects of every kind, and nature; as also United States stocks, and bank stock of the United States Bank, or any bank in the United States, and the estate and stocks aforesaid to alien, grant, sell and dispose of; to sue and be sued, plead and be impleaded, in all courts of justice; also to have and use a common seal, and the same to change at pleasure; also to ordain and execute all by-laws, and regulations by them deemed necessary for the well ordering and governing said corporation; provided said by-laws and regulations are not repugnant to the constitution and laws of this state, and of the constitution and laws of the United States.
Sec. 2. The capital stock of said corporation shall not be less than one hundred and fifty thousand dollars, and may, at the pleasure of said corporation, be increased to any further sum, not exceeding five hundred thousand dollars, and shall be divided into shares of one hundred dollars each, and on the said capital stock of one hundred and fifty thousand dollars, in part of said stock, shall be paid into the treasury of said corporation, for the use of said corporation, within thirty days after the first meeting of said corporation, five per centum; and within sixty days next after said first meeting of said corporation, the further sum of five per centum on said stock, shall in like manner, for like purposes, be paid into said treasury; and the remainder of said stock shall be secured to be paid by mortgage on real estate, or endorsed promissory notes, approved by the president and directors of said corporation, and shall be payable in thirty days after demand; and such endorsers shall have a lien on the stock for which such note or notes are given.
Sec. 3. There shall be seventeen directors for the well-ordering the affairs of said corporation, chosen by one or more ballots from among and by the stockholders of said corporation, which said directors shall hold their office at pleasure for one year, and until others are chosen in their room; and the annual meeting for the choice of said directors, shall, after the first election, be holden in the city of Hartford, on the first Thursday of June, or on such day in the month of June as shall be appointed by said board of directors.
Sec. 4. The said directors shall choose one of their number to be president of said corporation, and in case of his absence from business may, so often as necessity shall require, elect from among themselves a president for the time being; and in case any vacancy shall occur in said direction, said directors may elect a director or directors, from among the stockholders, to fill such vacancy, who shall hold their office at pleasure, until others are chosen in their room; and said directors shall have power to appoint for the time being, such officers, secretaries, agents, and servants as they shall judge necessary, and shall be capable of performing such other acts, and exercising such other powers, as shall be by them deemed for the best interest of the company. And no director shall be entitled to any emolument unless by vote of the stockholders in general meeting.
Sec. 5. The directors shall determine what number of their own body shall constitute a quorum for the transaction of business, and when such quorum is formed, if the president is not present, the electors present shall appoint a president pro tempore.
Sec. 6. The number of votes each stockholder shall be entitled to in the choice of directors, or any other concern or business of the company, shall be equal to the number of shares he shall be the owner of; provided, no stockholder shall, by virtue of the number of shares he may be the owner of, in any case be entitled to more than fifty votes.
Sec. 7. The stockholders shall be entitled to vote in person, or by proxy duly appointed; and none but stockholders shall be eligible as directors.
Sec. 8. Public notice shall be given by order of the directors, at least ten days previous to any meeting of the stockholders, in a newspaper printed in the city of Hartford, and in such other manner as they may judge expedient.
Sec. 9. Said corporation may insure on dwelling houses, and all other buildings, on ships and vessels of every description, while in port or on the stocks, on goods, chattels, wares, merchandise, and on all kinds of mixed and personal estate of every description, and shall be liable to make good and pay to the several persons who shall be assured by the said corporation, for all losses they may sustain by fire in the subject matter insured, agreeable to the contract of assurance, and of their policy, effected with said corporation. Provided always, that no stockholder shall be liable to said corporation, for any amount beyond the amount of stock by him holden, and unpaid to said corporation, and neither the members of nor said corporation shall, in any event, be liable beyond the amount of their said capital, for any loss or losses