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shall be taken up to the amount of one hundred and fifty thousand dollars, before said directors shall be chosen, and before said corporation make any assurance.
As soon as the installments aforesaid shall have been paid or secured by endorsed notes, and the remainder of the stock secured agreeable to the provisions aforesaid, and the whole to be done to the satisfaction of said directors,
and no part of said stock shall be assignable or transferable until both of said installments shall have been paid, anything in this act to the contrary notwithstanding.
Provided, this act may at any time be altered, amended, or revoked by the General Assembly. General Assembly, May Session, 1819.
DAVID PLANT, Speaker of the House of Representatives.
President of the Senate. Approved June 5, 1819.
OLIVER WOLCOTT, , At a General Assembly of the State of Connecticut,
holden at Hartford in said State, on the first Wednesday of May, in the year of our Lord one thousand
eight hundred and thirty-nine. (AETNA INSURANCE COMPANY'S POWERS OF INSURANCE
EXTENDED TO INSURE AGAINST HAZARDS OF INLAND
NAVIGATION AND TRANSPORTATION, &c.] Upon the Petition of the Aetna Insurance Company,
showing to this Assembly, that in the year 1819 they were incorporated by the Legislature of this State, for the purpose of insuring against loss and damage by fire, which business they have ever since conducted; that their capital is ample and abundantly secured; that the business of inland navigation, and of insurance, against the hazards incident thereto, have of late years greatly increased, while the number of offices empowered to issue such policies is limited; that the peti
tioners have frequent applications from their present customers and others, to take this description of risks, which, under their present charter, they are obliged to decline; that it would be for the mutual advantage of themselves and the public, to extend their power to this department of insurance; and praying the Legislature to make the necessary amendment to their charter, as by petition on file, dated the vith day of April, 1839, may more fully appear.
And now this Assembly, having enquired into the allegation of said petition, do find the same to be true; therefore
Resolved by this Assembly, That the Aetna Insurance Company be, and they are hereby fully authorized and empowered to issue policies against the hazards of inland navigation and transportation; and said policies, when duly executed by the proper officers of said company, shall be to all intents and purposes, binding upon said company, in the same manner as though the power to issue the same had been granted by their original charter. Approved May 8, 1839.
WILLIAM W. ELLSWORTH. CHARTER OF THE AETNA LIFE INSURANCE COMPANY. At a General Assembly of the State of Connecticut, holden
at New Haven in said State, on the first Wednesday of May, in the year of our Lord one thousand eight
hundred and twenty. AN ACT IN ADDITION TO AN ACT ENTITLED “AN ACT TO
INCORPORATE THE AETNA INSURANCE COMPANY."
Be it enacted by the Senate and House of Representatives, in General Assembly convened, That it shall and may be lawful to and for the said corporation to add to their present actual capital the sum of fifty thousand dollars, and at the pleasure of the company, may increase said addition to any sum not exceeding one hundred and
fifty thousand dollars; and the whole of said capital stock, created by, and raised under this act, shall be denominated the annuity fund, and shall be secured and paid into the treasury of the corporation, and vested in the same proportion and manner as is authorized and required by the act to which this is an addition, in relation to the fire insurance stock thereby created. And the stock created by this act shall be exclusively held and pledged as a fund for the payment of annuities which shall be granted by said company, and of losses upon insurance for a life or lives, or in any way dependent upon life or lives, and shall in no case be liable for the other debts, contracts, liabilities or engagements of the said company. And said annuity fund shall alone be liable to pay, bear and satisfy all losses, expenses, payments and charges, in respect to insurance on life or lives, or in any manner dependent on life or lives, and annuities which may be granted by said company; and said Aetna Insurance Company are authorized and empowered to grant annuities, and make insurance dependent on life or lives; to establish a form of policy, create officers for the corporation, prescribe the mode of authentication of policies, and all other instruments lawful for said company to execute, by seal or the signature of officers or an officer appointed by the corporation for such purpose.
Provided always, that this act may be repealed, altered, or amended by the Legislature. General Assembly, May Session, 1820.
DAVID PLANT, Speaker of the House of Representatives. JONATHAN INGERSOLL,
President of the Senate. Approved May 26, 1820.
At a General Assembly of the State of Connecticut;
holden at New Haven in said State, on the first Wednesday of May, in the year of our Lord one thousand eight hundred and fifty.
AMENDING THE CHARTER OF THE AETNA INSURANCE
Upon the petition of the Aetna Insurance Company, praying for an amendment of that portion of their charter authorizing insurances upon life.
Resolved by this Assembly, That policies of insurance issued by said company on the life of any person, expressed to be for the benefit of a married woman, whether the same be effected by herself or her husband, or by any other person on her behalf, shall inure to her separate use and benefit, and that of her or her husband's children, if any, as may be expressed in said policies, independently of her husband and his creditors and representatives, and also independently of any other persons effecting the same in her behalf, his creditors and representatives, always provided, that this section shall not apply to insurances where the annual premium on the policy shall exceed the sum of one hundred and fifty dollars, unless paid from the private property of the wife. Approved June 6, 1850.
THOMAS H. SEYMOUR.
At a General Assembly of the State of Connecticut,
holden at Hartford in said State, on the first Wednesday of May, in the year of our Lord one thousand eight hundred and fifty-three.
INCORPORATING THE SHAREHOLDERS OF THE ANNUITY
FUND OF THE AETNA INSURANCE COMPANY AS A LIFE INSURANCE COMPANY.
Upon the petition of the Aetna Insurance Company, pray
ing for such an alteration of its charter as will con
stitute the shareholders of the annuity fund of said company, their successors and assigns, a distinct corporation for the purpose of life insurance, and the assumption of life risks, as per memorial on file, dated May 9, A. D. 1853, will more fully appear :
Resolved by this Assembly, That the shareholders of the "Annuity Fund" of the said "Aetna Insurance Company," their successors and assigns, forever, be and they are hereby made and constituted a body corporate and politic for the purpose of life insurance, and for the assumption of all or any hazards connected with life risks, by the name of the "Aetna Life Insurance Company, and with and by that name shall have and possess all the powers and privileges and be subject to all the duties imposed upon the shareholders of said “Annuity Fund” under their present charter and the amendments thereof, and shall also have all the powers and privileges incident to a distinct corporation; provided, that all the liabilities and obligations of said Aetna Insurance Company for and on account of its “Annuity Fund” shall continue and exist against said company hereby incorporated, under the said name of the Aetna Life Insurance Company, and that all debts, liabilities, or obligations due to said Aetna Insurance Company for and on account of its “Annuity Fund,” may be collected and enforced by said company in the name of the Aetna Life Insurance Company, and that all suits in favor of or against said Aetna Insurance Company for and on account of its “Annuity Fund,” may be continued in force and prosecuted to final judgment by or against said company, in the same manner as if this resolution had not been passed.
Sec. 2. That the stock, property, affairs and business of said corporation shall be managed and conducted by not less than seven nor more than ten directors, a majority of whom shall reside in this state, who shall be chosen by ballot from and by the stockholders of said company, and the present managing directors and officers of said