1874.

given of taking of stock.

petent to exercise the powers and perform the duties required by this section.

21. The said commissioners shall have power and Notice to be they are authorized and required, on the second Monday in April next, or at such other time, within two years thereafter, as they shall deem expedient (having given not less than thirty days' notice thereof in some newspaper in Winchester), to open books for the subscription of the capital stock of said institution at Winchester, and such other places as they may deem advisable, and cause said books to be kept open from ten o'clock, A. M., until two o'clock, P. M., for at least ten days, or until at least two hundred and fifty shares shall have been subscribed, when the same may be closed; and if more than one thousand shares shall have been subscribed by individuals, companies, and corporations, the commissioners shall deduct the excess in such manner that no subscription shall be reduced, and leave the subscription of another larger.

Books for stock to be reopened

unless whole

amount is subscribed.

of directors.

§ 22. That if the whole one thousand shares of capital stock shall not be taken when the books shall first be opened, the president and directors may cause the books to be opened at any time and place they may direct, giving thirty days' notice thereof in some newspaper, and cause them to be kept open not less than ten days, or until the whole of the balance of the stock shall have been taken; and the president and directors may require such premiums on the stock sold at the reopening of the books as they shall deem right, and such premium shall be the property of the institution.

§ 23. That when not less than two hundred and fifty Time of election shares of the capital stock shall have been taken and the commissioners shall have closed the books, it shall be their duty to give notice to the stockholders, and appoint a day, in Winchester, for the election of the first board of directors, who shall hold their offices until the succeeding annual election. And not less than ten nor more than thirty days' printed notice thereof, as aforesaid, shall be given of the time and place of electing said board; and at least four of said commissioners shall act as inspectors of said election, and shall take the proper oath and perform all the duties of inspectors of election in like cases.

subscriptions.

§ 24. That the payment of the shares of the capital stock Mode of paying held by individuals, companies, and corporations, shall be made at the time and in the manner following, viz: ten dollars on each share to the commissioners at the time of subscribing, and ten dollars on each share within ten days after the election of the first board of directors, and

ten dollars every twenty days thereafter until the whole. amount of said stock is paid in: Provided, That the board shall have power to prolong the time for the payment of each installment after one half of the amount of each share shall have been paid.

§ 25. That should any of the subscribers to the stock of said institution fail or refuse to pay for their stock, as herein provided, the president and directors first giving public notice in two or more newspapers for the space of thirty days, by resolution entered on the records, may forfeit such stock, and proceed, at such time as they may deem expedient, to resell the same; and all partial payments made on any stock which shall be forfeited shall be sold for the benefit of such stockholders.

§ 26. That said corporation may commence business so soon as ten thousand dollars shall have been paid in and the president first elected shall have made oath to the fact of such payment before the county judge of Clark county, who shall cause the same to be entered of record on the order-book of the Clark county court.

two years.

§ 27. This act shall be in force from its passage: Pro- Must organize in vided, An organization is effected within two years from its approval by the Governor; but if no organization is effected within the above specified time, this act shall be void. The Legislature reserves the right to alter, modify, or repeal this act at pleasure.

Approved February 23, 1874.

CHAPTER 439.

AN ACT for the benefit of John H. Carrier, late jailer of Laurel county. WHEREAS, It appears to the satisfaction of this General Assembly that Esom Bowling, charged with murder, and Washington Nunn, charged with grand larceny, were confined in the Laurel county jail, and, without any negligence on the part of John H. Carrier, then jailer, effected their escape from said jail, the jail being a good jail; and whereas, said Carrier, fearing that said prisoners could not be again arrested and a conviction had unless a reward was then offered, offered a reward of two hundred and twenty-five dollars, which secured the arrest and delivery of said prisoners to the said jailer, and they were afterward convicted on said charge and sent to the State penitentiary, and the said Carrier paid the reward aforesaid; for remedy whereof,

1874.

Be it enacted by the General Assembly of the Commonwealth of Kentucky:

§1. That the Auditor of Public Accounts draw his warrant on the Treasurer in favor of John H. Carrier for two hundred and twenty-five dollars, to be paid out of any money in the Treasury not otherwise appropriated. 2. This act shall be in force from its passage.

Approved February 23, 1874.

names--body

rate.

CHAPTER 449.

AN ACT to incorporate the Kentucky Odd Fellows' Insurance Company. Be it enacted by the General Assembly of the Commonwealth of Kentucky:

§ 1. That P. H. Leslie, Rev. N. G. Terry, W. H. Botts, Corporators J. R. Pedego, E. Morris, J. C. Evans, T. E. McDonnald, politic and corpo Lewis McQuown, A. M. Depp, R. B. Evans, Clarence Wood, C. E. Boles, W. J. Bradford, N. Sinith, and J. F. Montfort, and their successors, be, and they are hereby, created a body-corporate, under the name of "Kentucky Odd Fellows' Insurance Company;" to have perpetual succession, with the right to obtain, hold, sell, and convey, and dispose of such real and personal property as may be necessary to carry out the objects of this charter; and to make and retain their capital stock to the amount of one hundred thousand dollars, with power to confer Capital $100,000. charities as herein provided, or as the company may determine; and may make contracts that shall be binding, sue and be sued, make and transact all business in its corporate name for its corporate purposes; and to use a common seal, renewable and changeable at pleasure; and may make by-laws for its government, not inconsistent with the purposes of this charter or with the laws of the land.

named may organize.

2. The persons herein named, or a majority of them, Corporators may constitute a board to do business, and may proceed at pleasure to organize fully and to receive members only of sound and healthy Odd Fellows of Kentucky, under sixty-five years of age, in good standing in their Lodges, and acceptable to the board.

ing members.

§ 3. Each person, upon becoming a member, shall pay Mode of becom- into the Treasury of the company, according to their respective ages, as follows, to-wit: from the age of twenty-one years to thirty years, six dollars; from the age of thirty years to forty years, ten dollars; from the age of forty years to fifty years, fifteen dollars; from the age of fifty years to sixty years, twenty dollars; from the age of sixty years to sixty-five years, twenty-five dollars, which

amounts, when received into the treasury, to become a permanent fund of the company, which, with the other qualifications prescribed, shall entitle him to membership for life, or during good behavior; but he may be expelled for any disgraceful or immoral conduct or violation of such by-laws as may not be inconsistent with this charter. 4. The number of members may be increased to and retained at five thousand, and the membership fees paid into the treasury by each for a permanent fund may be invested in such stocks, bonds, or property as the company by its board may direct.

1874.

Number of mem

bers may be in

creased and retained at 5,000.

Members' fees, when paid, enti

§ 5. Upon the payment of the membership fees named in the third section of this act, the company shall cause led to certificate. such certificates of membership to be given to the member paying it, upon the plan of mutual life insurance policy, with stipulations according to the terms of this charter, and according to such by-laws as they may make and publish not inconsistent herewith.

Manner of increasing member

§ 6. When the membership of said company shall reach one thousand members, the company, through their direct- ship. ors, shall have the power to increase the membership fee twenty-five per cent., and when it shall reach twenty-five hundred members they may increase the membership fee mentioned in section third of this act fifty or one hundred per cent.

examined.

§ 7. All applicants for membership shall be examined Applicants to be by some practicing physician, who shall be appointed by the board, or its authorized agent, who shall be entitled to a fee of two dollars, to be paid by the applicant, if he is accepted as a member of said company, and if the applicant is rejected, the fee to be paid by the company. The medical examiner shall write his certificate on the application giving his opinion, as medical examiner, as regards the health and condition of the applicant, and whether he believes it would be safe to accept the applicant for membership.

§ 8. All applications for membership shall be accom- Fees must accompanied with the membership fee, together with one dollar pany membership additional policy fee.

9. In addition to the permanent fund, upon the notification of the death of a member, each surviving member shall pay into the treasury one dollar and twenty cents; one dollar of which from each member to constitute a fund to be paid for the benefit of the widow and children of the deceased member, and the balance to defray the expenses of the company.

10. The fund created in section nine for the benefit of the widow and children of the deceased members LOC. L.-32

How policies to be paid.

Widows and children, now paid.

1874.

Stock not liable for debts.

of office.

of officers.

Election

shall be paid to them by said company, as soon as it can be collected, or to their trustees, in the discretion of the company, subject, however, to be appropriated for their benefit equally, according to the will of the deceased member; or if he should leave no widow or child, then to be appropriated according to his will; or if he makes no will, and leaves no widow or child, it shall vest and remain in said company, and be added to its capital stock, or appropriated, as they may deem expedient.

§ ii. No part of the stock or interest that any member, or his widow or children, may have in said institution, shall be subject to any debt, liability, or legal or equitable process against him, or any of them.

§ 12. The office of the company shall be at Glasgow, Glasgow location Kentucky, and the organization shall there take place by the election of seven directors, to be chosen from the company, each member having one vote; and they, or a majority of them, shall elect from their body, or from members of the company, a president and such other officers as they may deem necessary for the transaction of business, to hold their office till the first Monday in January, 1875, or during good behavior, and until their successors shall be duly elected and installed; and all subsequent elections of officers shall take place on the first Monday in January every year; but should an election fail to be held at that time, or in case of vacancy in office, an election may at any time be held to fill any or all offices, upon first giving thirty days' notice to the members, by publication in some newspaper in Kentucky of the time and place of said election.

filled.

§ 13. Should any or all of said offices become vacant, Vacancies-how and remain so for one year, or should no election be held within one year after the regular term of service shall have expired, any fifteen of the members of said company, in good standing, may reorganize as in the beginning, upon giving notice as is required in the twelfth section of this act.

§14. The board of directors may fix the salary of its Salaries of officers officers, prescribe their duties, and the amount and condition of such bonds, as they may require of them; and do all other acts within the purview of this charter, and not inconsistent with law.

§ 15. A majority of the directors alone, or three of Officers pro tem. them, with the president or vice president, shall constitute a quorum to do business, and in the absence of the president or vice president may appoint such officers pro

tem.

§ 16. A full record of all the proceedings of the comRecord of pro- pany shall be kept, subject at all times to inspection by its members and others interested.

ceedings to be kept.