river, and general insurance, on the principle of mutual insurance, and to determine the mode according to which such mutual insurance shall be made, and how the premiums and profits shall be held, invested and charged, and the manner and periods at, which dividends shall be declared.

Sec. 3. And be it further enacted, That each and every How corporate person, or persons, who shall insure in and with the said membership may corporation, and the representatives and assignees of such be attained. persons, shall be allowed and continue to be members of said corporation, and shall share equally in the profits and losses thereof, for the year in which such insurances are made, and in proportion to the amount of the premiums paid by them on their respective insurances, and no more; and that the rates of contribution to losses, and, of the distribution of the profits, shall be determined by the board, of Trustees, hereinafter provided for.

tion.

Sec. 4. And be it further enacted, That the said corpo- Corporate restricration shall not have the power to put in circulation any note, boud, contract, or obligation. as money.

trustees.

Sec. 5. And be it further enacted. That the said G. H. Dunlap, G. A. Wyser. L. Hoadly, William P. Webb, A. First board of F. Alexander, M. B Posey. William Perkins. Sydenham Moore, Moses Hubbard, Thomas T. Page, Harry 1. Thoruton, and their 'associates in office, are hereby declared to be a board of Trustees of said corporation until the first Monday in March, eighteen hundred and forty nine, a majority of whom, or of the boards thereafter to be chosen, elected shall have power to fill any vacancies which may occur in said board, by election from the members of said corporation; and the powers conferred by this act on the said corporation are hereby vested in said board of Trustees, and their successors.

After boards how

Ser. 6. And be it further enarted, That from and after the first Monday in March, eighteen hundred and fortynine, and on the first Monday in March, in every year Elections when thereafter, there shall be an election for a board of Trus- held. tees, to consist of eleven persous, chosen from the members of said corporation, who shall serve for one year, or until a new board be chosen; the said election to be made by the board of Trustees, whose term of service shall expire on the day of election. This section shall not be so construed . as to prevent the re-election of any Trustee who may have been previously elected.

Sec. 7. And be it further enacted, That a vacancy shall be declared in said board of Trustees upon the death of any member thereof, or whenever any member thereof shall remove from the State of Alabama, or continue ab

Vacancies.

1

Annual report.

Of certificates of stock.

sent from the meetings of the board for the space of three months, without leave being first obtained.

Sec. 8. And be it further enacted, That the said board of Trustees shall, once in every year, on any day to be fixed by them, make and publish a full and particular statement of the affairs of said corporation; and that they shall admit, for the inspection of the members thereof, a detailed statement of their assets.

Sec. 9. And be it further enacted, That no certificate, or scrip, for the profits, nor any distribution of the same, (as provided for in the third section of this act,) shall be issued or made, for the fractional parts of sums, and sums less than ten dollars, are to be passed by the contingent account of the company, and applied to the expenses and other charges of the year in which they appertain. Approved, March 4, 1848.

Trustees.

To Incorporate the Florence Female Academy, in the
County of Lauderdale.

Section 1. Be it enacted by the Senate and House of Representatives of the State of Alabama, in General Assembly convened, That James Irone, Jr., Robert M. Patton, Samuel D. Weakly, John Simpson, Thomas J. Foster, Thomas Kirkman, Wiley T. Hawkins, B. B. Barker and James Martin, and their successors in office, be, and they are hereby, created a body politic and corporate, in deed and in law, by the name of "the President and Corporate name Trustees of the Florence Female Academy," and by that name shall be able and capable in law, and in equity, to sue and be sued; and shall have power to hold real and personal estate in perpetuity, in trust for the use of said Seminary; to receive donations and bequests, and to make contracts; and to do all other things necessary and proper for the promotion of education in said Seminary.

and style and powers.

Organizotion.

Classed.

Sec. 2. And be it further enacted, That the persons named, or a majority of them, shall have power to appoint a President and Secretary from their own body, a Treasurer, visitors, and such other officers as they shall deem necessary, and to prescribe the duties of each, and the term of time each shall serve, and the penalties for breach of duty.

Sec 3 And be it further enacted, That the President and Trustees shall be divided into three classes by lot. The

first class shall go out of office at the end of two years; those of the second class at the end of four years, and those of the third class at the end of six years; so that two shall be elected at the expiration of every two years, and a rotation thereby be kept up perpetually; and then vacancies shall be filled by two thirds of those remaining in office.

Sec. 4. And be it further enacted, That, when other Vacancies how vacancies occur in the board the same shall be filled by the made and filled, vote of two thirds of those remaining in office, including the President; and it is hereby declared, that removal from the county-voluntary absenting from the meetings of the board for six months in succession-being convicted for the commission of any disgraceful crime, or being habitually intemperate, shall be causes for declaring the office of President or Trustee vacant; and the board may, by a vote of two-thirds of the trustees, including the President, declare the office of trustee or President vacant for either of the causes aforesaid, and proceed to fill the vacancy in the same manner, as if the vacancy was occasioned by natural death.

Sec. 5. And be it further enacted, That the said President and trustees, so soon as they shall be duly organized Powers of beard under this charter, shall have power to direct and control all buildings and other improvements for the use of the institution, either by themselves, or a committee, or agents under them; and all the property, real and personal, shall be hereby vested in them and their successors in office:. Provided, however, That no change shall be made in the Proviso. plan of building now adopted, by the building committee, appointed by the general subscribers, to the improvements, nor in any contract made by the same committee; but the plan or plans of building aud all contracts made with reference thereto, shall be adopted by the President and trustees under this act.

Property vested.

Sec. 6. And be it further enacted, That all property,. donated for the use of the said Seminary, and all subscriptions heretofore made for the purpose of building the necessary houses and making other improvements, appurtenant thereto, shall, by operation of this act, vest in the said trustees, as if the conveyance and subscriptions were exp.essly made to them; and for any injury to the real es- May sue for and tate, and for the collection of subscriptions already made, the said President and Directors shall have power to sue, and recover at law, in their corporate name; and they are hereby vested with power to demand either all or of the amount each person has subscribed, as they shall deem necessary, from time to time; and if the sum required, shall

defend the sam

not be paid by the subscribers respectively, or the written order of the President being presented, a right of action shall exist in the said President and trustees, and may be enforced for the sum or sums, so ordered to be paid and refused; and so on, till all be paid up by the subscribers respectively

Sec. 7. And be it furrher enacted, That the President Further powers. and trustees aforesaid, or two-thirds of them, shall have power to appoint all the trustees for said Seminary; to establish the charges for instruction therein. from time to time; to establish such rules and bye-laws as they may deem necessary and proper, extending to the President and trustees, as well as to teachers and pupils, and others connected with the Seminary. They shall have power to remove teachers at their discretion, by a vote of two-thirds of the trustees then in office, including the President; and to remove any teacher, for good and sufficient cause, by a vote of the majority. Provided, however, That no teachers shall be appointed or removed between the going out of one class of trustees by limitation, and the appointment and qualification of others, to fill the vacancy.

Approved, March 4, 1848.

To re-charter the Mobile Marine Railway and Insurance

Company.

Section 1. Be it enacted by the Senate and House of Representatives of the State of Alabama, in General Assembly convened, That an act, entitled "an act to InCharterextended corporate the Mobile Marine Rail Way and Insurance Company," approved, January 28th 1829, and also, the amendments to said act, an act entitled "an act to amend the charter of the Mobile Marine Rail-way and Insurance Company," approved, the 10th day of January 1844, bet renewed and extended until the thirty-first day of Decem ber A. D. 1870, with all the powers and privileges therein expressed and contained.

To incorporate the Central Masonic Institute of Alabama,
Dallas County.

Section 1. Be it enacted by the Senate and House of Representatives of the State of Alabama, in General Assembly convened,

That the most.excellent William Hendrix, Grand High Names of corpo、、 Priest of the Royal Arch Chapter of the State of Alabama, rators.

Corporate style

and the most worshipful Rufus Green, Grand Master of the Grand Lodge of the State of Alabama, and their successors in office as such, and Charles G Edwards. Nimrod E. Benson, John M. Strong, William Sea well, William M. Lapsley, William Waddell, Jr. George W. Gayle, Wiley Milton, John R. Somerville, Abner Jones, and Thomas B. Carson, and their successors in office, be and they are hereby declared to be a body politic and corporate, by the name and style of the Trustees of the "Central Masonic Institute" of Alabama, and as such shall be capable and liable in law and powers. to sue and be sued, to plead and be impleaded, and shall be authorized to make such by-laws and regulations as shall be proper for the government of said Institution: Pro- Proviso. vided, That such by-laws and regulations are not repug nant to the constitution and laws of this State; and may have and use a common seal, and appoint such officers as they may think proper, and remove the same from office. Sec 2. And be it further enacted, That said Trustees, or body corporate, shall have power to erect buildings for Powers. the purposes of educating youth of both sexes, to borrow money, not exceeding five thousand dollars, by mortgageof their corporate property or otherwise, to accept of all manner of property, real, personal or mixed, all donations, gifts, and grants, which may be hereafter made or granted. to the said Institution, or which may be hereafter conveyed. or transferred to them, or their successors in office, to have and to hold the same for the use, benefit and behoof of said Institute, and to sell and dispose of the same: Provided, the same does not exceed in value fifty-thousand dollars. Sec. 3. And be it further enacted, That when any va Vacancy. cancy may occur by death, resignation, or otherwise, of any of the Trustees of said Institute, the survivors or residue of said Trustees shall fill the same in such manner as shall be pointed out by the by-laws and regulations of said corporation.

Sec. 4. And be it further enacted, That all property owned by said Frustees, in their aforesaid corporate capacity, shal be vested in such body corporate, in perpetuity, for the use of said Institutoin, and for the purposes of edu cation.

Property vested.