1866-1868 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1876 Excerpt: ...to one already appropriated, or likely to mislead the public. Sac. 2. Powers. Upon the approval of said certificate by the Attorney-General and the Secretary of State, the said Secretary of State shall cause it to be recorded and copied in the same manner as is provided in the second section of said act; and said persons, 'See chap. 2218 for the general insurance act now in force, and see notes to same for decisions. "The want of a seal to the certificate may be cured. Warner v. Callender, 20 Ohio State R. 190. when incorporated, and having in all respects complied with the provisions of this act, are hereby authorized to carry on the business of insurance, as named in such certificate of incorporation, and by the name and style provided therein, shall be deemed a body corporate with succession; they and their associates, successors and assigns, to have the same general corporate powers, and be subject to all the obligations and restrictions of said act, and of the acts amendatory and supplementary thereto, except as herein provided. SEO. 3. Amount of capital; when company may commence business; notes and risks. No joint stock company shall be incorporated under this act with a smaller capital than one hundred thousand dollars, nor more than one million dollars, as may be specified in the certificate of incorporation, which stock shall be divided into shares of twenty dollars each, nor shall any company on the plan of mutual insurance, commence business in this State until agreements have been entered into for insurance with at least two hundred applicants, the premiums on which shall amount to not less than fifty thousand dollars, of which at least twenty thousand dollars shall have been paid in cash, and notes of solvent parties founded on actu...