1859. What company § 6. The company shall only insure such dwelling-houses, stores, shops, and places of business, and furniture, fixtures, merchandise, etc., etc., as may be fixed upon in their by- may insure. laws by a majority of the members, and shall not insure any property for more than two thirds its value at the time the insurance is effected or renewed; and no insurance shall be granted by the company upon any property insured in any other company whatever; nor shall any furniture, merchandise, or movables be insured by this company which do not belong to the owner of the house in which they are, and where such house is not insured by this company; and the rates of insurance may be so regulated as to correspond with the risk from fire, but shall not Premiums. be less than three quarters per cent. for brick houses, and one and a quarter per cent. for frame houses, of the amount for which they are insured. § 7. The standing committee, appointed as provided in third section hereof, shall fix the value and rates of houses on which insurance is sought; and this valuation may be repeated as often as necessary after the admission of a member of the company; and the committee shall take an oath before a magistrate truly and faithfully to perform their duties. Standing committee to fix value on houses sought to be in sured. 3 Losses to be to valuation of committee. § 8. Every member who has suffered a loss by fire, shall be indemnified according to the valuation of the commit- paid according tee. But if the assured and the committee cannot agree, each party shall choose one impartial member, and the two members thus chosen shall fix the valuation, and their decision shall be final. Notice to be 9. Every member suffering loss from fire shall at once notify the secretary, reporting to him the causes of the fire, given of any the value of his property burned or injured by the fire, which report shall be sworn to before a magistrate; and if the report be found correct, his indemnity shall be paid to him, unless it is found, on investigation, the fire was caused by his negligence or willful and deliberate act and intent, in either of which events, all claim on the company resulting from the loss shall be forfeited. § 10. In valuing and fixing the rates and estimates of such houses as are situated less than thirty feet from the following described buildings, the taxation and estimate of rates are to be regulated by the risk; and when that is too great, such houses shall not be insured by this company. The following classes of buildings are recognized as dangerous and liable to fire, viz: Workshops of carpenters, coach-makers, etc., etc., and all of that class; those of brewers, rope-makers, bakers, smith shops, and iron founderies, oil mills, distilleries, and all establishments of like kind with those named; and no insurance shall be effected on a house on leased ground, unless the lease have two years to run. How valuation, to be regu lated. 1859. If fire occur from sale or use through care of powder, &c., lessness of the assured, shall forfeit insur ance. Persons wish intent cation, &c., of make known lo house. by President & § 11. When a member, or any other person, shall build a house of any of the classes described as dangerous in the preceding section, nearer than thirty feet to a house insured by this company, the owner of the house shall notify the secretary, and the valuation committee must give their decision within sixty days from the day of notification; and by a failure to give such notice within the time provided herein, such member shall forfeit all claim on the company, and his policy shall be void. And any alteration or improvement of a house insured by the company, which increases the risk from fire, shall make the insurance of the house void, unless the same be notified to the secretary; but no alteration which does not increase the risk shall affect the insurance. § 12. If a fire occur from the sale or use of powder, or other combustible, or in the use of fire or lights, through the carelessness of the assured, he shall forfeit all claim to indemnity resulting therefrom against the company. § 13. Every one wishing to insure in the company, shall make known to the president the location of his house, and, after his admission, shall pay to the treasurer his entrance fee, as stipulated in section four hereof; in return for receipt of which by the treasurer, the secretary must give his certificate of membership, signed by the president and secretary. § 14. No policy shall be valid unless signed by the presi No policy valid dent and secretary; and at each renewal of a policy after unless signed its expiration, and at every change of the amount insured, Secretary. the signatures of those two officers shall be required. § 15. Any member wishing to withdraw from the comHow member pany, must give notice of such intention one month before may withdraw his withdrawal, unless at the expiration of his policy; and any member having once withdrawn from the company, shall pay the entrance fee provided in section four, before he can be readmitted; though that shall not be required at a renewal of a policy expired, unless the member has withdrawn. from company. Entrance fee valid to heirs, &c., as long as they remain owners of same. § 16. The entrance fee which has been paid, as provided in section four, by the owner of the house insured, is valid and sufficient for the heirs of his body, so long as they remain the owners and proprietors of the property so insured, and conform to the rules of the company. But whenever the house shall be sold, or descend to other heirs than those herein mentioned, the insurance shall expire. § 17. A vote of a majority of all the members present How by-laws shall be required to make, alter, or amend any law or by altered. Administra law. § 18. The administration of the affairs of the company tion of affairs shall be intrusted to the officers named and elected and be intrusted to appointed under the provisions of section three; but every of company to officers. member shall be entitled to examine the books, papers, and general transactions of the company, upon application therefor to the company. 1859. Members of comp'ny bound §19. Every member of this company shall be bound to pay his proportion of all losses and expenses happening and to pay proporoccurring in and to said company; and all buildings insured tion of losses. by and in said company, together with the right, title, and interest of the assured to the lands on which they stand, shall be pledged to said company; and the said company shall have a lien thereon against the assured during the continuance of his, her, or their policies: Provided, That no lien exceeding fifty dollars shall be enforced against any purchaser for a valuable consideration without notice, or against any creditor. § 20. This company to exist so long as seven of its members remain. § 21. The Legislature reserves the power to amend or repeal this act. Approved December 21, 1859. CHAPTER 9. AN ACT to amend an act, entitled "An act to incorporate the New Orleans and Ohio Telegraph Lessees," and to change the name to that of the Southwestern Telegraph Company. Be it enacted by the General Assembly of the Commonwealth of Kentucky: §1. That whenever a majority, in interest, of the stockholders in the corporation known and designated as the New Orleans and Ohio Telegraph Lessees, shall elect to accept the provisions of this act, the act enumerated in the foregoing title, approved March 6, 1856, be, and the same is hereby, amended as provided in the following sections hereof: § 2. The name of said corporation shall be changed to that of the Southwestern Telegraph Company, and by that name and title said corporation shall have and enjoy all the rights and privileges, and be subject to all the liabilities and restrictions, pertaining to, or devolving upon, said New Orleans and Ohio Telegraph Lessees, either by virtue of said original act of incorporation, or by virtue of any and all contracts made, or business transacted, under said act of incorporation, as much as if the name and title of said corporation had not been changed; and the said corporation of the Southwestern Telegraph Company herein provided, by virtue and in the act of accepting these amendments, shall assume all the responsibilities, and enjoy all the benefits and immunities devolving upon, or pertaining to, the original association or business firm of lessees of the New and 1859. main lines. trunk Orleans and Ohio telegraph lines, whether said benefits and responsibilities are embraced in or grow out of the original contract of lease, between the New Orleans and Ohio Telegraph Company as lessors, and S. F. B. Morse and others as lessees, or arise out of any profits or investments made, or responsibilities incurred, in the transaction of telegraph business by said lessees during the period of their unchartered existence as a business firm. § 3. That said corporation may construct, or acquire and May construct maintain, main trunk lines of telegraph on the Louisville acquire and Nashville railroad, and on the branch thereof toward Memphis; on the Henderson and Nashville railroad; on the Louisville and Lexington railroad; on the Kentucky Central railroad; on the Lexington and Maysville railroad, or on the route thereof; and on any and all other railroads, or branch roads or highways, within the limits of this State: Provided, No vested rights of said railroad companies be infringed thereby against their consent; and the further right to construct or acquire branch lines of telegraph on the branch railroads to Lebanon, Bardstown, and Glasgow, and to any town or city or other point, or between any two points, within this State, over any of the public roads or highways thereto, and to maintain and operate any or all of their said lines, with all of the rights and privileges of said corporation, for and during the longest period mentioned in said original act of incorporation : Provided, That nothing herein shall be so construed as to prevent the Legislature, at any time hereafter, from incorporating other telegraph companies with the privilege of constructing lines upon any route not now actually occupied by the Southwestern Telegraph Company. § 4. That in order to the construction and extension of their lines of telegraph, said corporation shall be entitled to raise its capital stock to any sum not exceeding one million of dollars, at such time or times, and in such manner, as a majority, in interest, of the stockholders may appoint. Approved December 22, 1859. have streets CHAPTER 10. AN ACT to amend the Charter and Laws of Jamestown, in Campbell county. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the board of trustees of said town shall have Trustees may power to cause to be graded any of the streets, alleys, or public ways in said town, for the purposes of drainage or otherwise, as they may deem best; and shall also have power to set the curb, and pave, macadamize, or gravel the graded. same, or any part thereof. Also, to pave any of the sidewalks, or any portion thereof, in such manner as they may think best; and are empowered to levy and collect an additional poll tax, not exceeding one dollar per year, upon each tithable, to be applied to said improvements and works. All laws requiring the inhabitants of said town to work on the streets, alleys, and public landings thereof, are repealed. 2. That whenever two thirds of the property-holders, owning at least one half of the property fronting on any part of any street, alley, market space, common, or public way, proposed to be improved, shall, by written petition to the board of trustees, express their desire to have the same improved, said board shall have power to improve the same by grading, paving, macadamizing, or otherwise, as they may deem best, and to levy and collect a special tax for defraying the cost or expenses of the same, by an equal assessment on the foot front bounding or abutting on the part of such street, alley, market space, common, or public way proposed to be improved; and a lien for said taxes shall exist upon the real estate upon which it may be assessed, from the time of filing such petition until it shall be paid and satisfied; that the collection of said tax may be enforced in such manner as shall be provided by ordinance. Said board shall have full power and authority to compel the property-holders on any graded street, alley, or public way, to improve the side-walks in front of their property on any one or more squares or blocks, by paving or graveling; and in case of a neglect or refusal on the part of such property-holders, or any of them, to obey such mandate, then said board shall make such improvement, and assess a tax upon the property fronting such side-walk so improved by the board, and collect the same as may be provided by ordinance, to defray the expense and costs of collection. 1859. When twothirds of property holders de sire it, trustees ing to be done. to cause grad May compel property holdstreets, &c. ers to grade May have jail and workhouse, §3. They shall have power to procure and hold, by purchase or otherwise, suitable grounds and buildings in or &c. adjacent to said town, for a work-house and jail for the use of the town, and to pass suitable by-laws and ordinances for the regulation and government of the same. Also, grounds and buildings for an alms-house or poor-house, for the use of the town, and to prescribe the regulations and government of the same. And persons convicted of violating any of the laws or ordinances of the town, or failing to confined in the pay the fines assessed against them, may be confined in the work-house and jail at labor until their term of sentence shall expire, or until such fines are paid, at the rate of fifty cents per day; but no person shall be confined in the workhouse for a longer term than three months. § 4. That hereafter the Campbell county court shall not levy or collect any poll or capitation tax within the limits Who may be work-house. County court of Campbell not to levy and in said town. collect poll tax |
