Proviso. Classification of Directors as to order going out of office to be determined by ballot. Directors to tion--five Avery year. of shall become void and of none effect for and during such period as the said note or assessment shall remain unpaid; Provided that it shall be optional with the Directors to enforce payment of the said note or assessment at their discretion. 6. Before the next annual meeting for the election of Direetors, the Directors, or a quorum of them, shall determine among themselves by ballot,-first, which five of the present Directors shall continue in office for one year, and the said Directors, after such ballot, shall be known as standing first in the list of Directors; secondly, which five of the present Directors shall continue in office for two years, and the said Directors, after such ballot, shall be known as standing second on the list of Directors; and the present Directors, except the ten so selected by ballot, shall all go out of office at the next meeting for the election of Directors, and at such meeting there shall be five Directors elected, who shall continue in office for three years, and shall be known as standing third on the list of Directors. 7. The Directors shall retire from office in the following roretire in rota tation, that is to say:-Five Directors at each annual meeting after the next, commencing with the five Directors standing first on the list of Directors, and in the same manner the five Directors standing next on the list at every annual meeting thereRe-eligible. after; the retiring Directors shall always be eligible for re-election, and the Directors shall hold office for three years, and until the next annual meeting thereafter. Proxies to be and not to be 8. No Agent or Sub-Agent of the Association shall receive registered; or hold proxies for voting at meetings of the said Association; held by Agent and no proxy to vote thereat shall be valid unless the same of Association. shall have been entered by the Secretary, in a book to be kept for this purpose, at least one month before the meeting at which such proxies shall be acted upon Qualification of Directors. Be-Insurance. Assurance on Proviso. 9. Directors of the Association, being proprietors of guarantee stock to the amount of two hundred dollars, on which not less than ten per cent, shall have been paid up, shall not be required to be also insurers in such Association. 10. The Directors may make arrangements with any Mutual or other Insurance Company for the re-insurance of risks, on such conditions with respect to payment of premiums thereon as may be agreed between them. 11. The Association may issue Policies of Assurance upon lives of cattle. the lives of horses, cattle or live stock of any kind; Provided that no such Policies shall be issued for terms exceeding two years, and the holders thereof shall not be held to be members of the said Association. 12. The Act respecting Mutual Insurance Companies, Con. Stat. U. being chapter fifty-two of the Consolidated Statutes for Upper C. cap. 52 to Canada, except in so far as the same may be inconsistent with apply. this Act, shall apply in all its provisions to the Beaver Mutual Fire Insurance Association. return to 13. The said Association shall make and furnish to the Go- Company to vernor and to each of the Houses of the Parliament of this make yearly Province, during the first fifteen days of the first session of the Parliament. said Parliament in each and every year, a full and unreserved statement of the affairs of the said Association, and of its funds, property and securities, shewing the amount in real estate, in bonds and mortgages, in notes and the securities thereof, in public debt and other stock, and the amount of debt due to and from the said Association; and also a list of the Stockholders and of the Directors of the said Association. 14. This Act shall be deemed a Public Act. САР. С. An Act to amend the Acts relating to the Charter of the Canada Company. W [Assented to 30th June, 1864.] Public Act. HEREAS an Act was passed by the Imperial Parlia- Preamble. ment in the sixth year of the reign of His late Majesty King George the Fourth, intituled: An Act to enable His Ma- Recital of Imjesty to grant to a Company to be incorporated by Charter, to perial Acts relating to be called The Canada Company, certain lands in the Province of the Canada Upper Canada, and to invest the said Company with certain Company. powers and privileges, and for other purposes relating thereto; And whereas, by Letters Patent under the Great Seal of the United Kingdom of Great Britain and Ireland, bearing date at Westminster the nineteenth day of August, in the seventh year of the reign of His said late Majesty King George the Fourth, a charter was granted, in accordance with the provisions of the above recited Act, to certain persons there in named by the name of the Canada Company; And whereas by a certain other Act of the Imperial Parliament, passed in the ninth year of the reign of His said late Majesty King George the Fourth, intituled An Act to alter and amend an Act for enabling His Majesty to grant to a Company to be incorporated by Charter, to be called The Canada Company, certain lands in the Province of Upper Canada, it was enacted among other provisions as follows: "That it shall and may be lawful for the said company, by warrant of attorney or written instrument, under their corporate seal to constitute and appoint two or more persons, being in Upper Canada, to execute conveyances in the name and on behalf of the said company to any individual or individuals, of any part of the lands granted to, or purchased or 29 * held Deeds, &c., under the corporate or official seal of the Com. pany to be primâ facie evidence. Buch deeds held by, the said company, in the manner and subject to the restrictions in the said Act of Parliament mentioned, and which conveyances shall be made under the signatures of the said attorneys and under such seal as hereinafter mentioned, and it shall be lawful also for the said company to appoint and commit to the custody of such their attorneys for the time being, a seal for the purpose of executing such conveyances as aforesaid, and such seal from time to time to break, alter, or renew, as to them may seem meet, and every conveyance to be made and executed in manner aforesaid by such attorneys for the time being as aforesaid of the said company, shall be valid and effectual in law to all intents and purposes whatsoever, and that the seal of the said company affixed to any conveyance, deed, or instrument in writing, or to any memorial or memorials thereof, for the purpose of the registration of the said conveyance, deed, or instrument in writing, in the proper office for registering the same, in Upper Canada, shall of itself be sufficient evidence of the due execution of such conveyance, deed, or instrument in writing, or the memorial thereof, by the said company, for all purposes respecting the said registration, and no further evidence or verification of the signatures of the Directors who shall attest the sealing of such conveyance, deed, or instrument in writing, or the memorial thereof, shall be required for the purpose of such registry, any law or custom now in force in the said Province of Upper Canada notwithstanding." And whereas the said Canada Company have, by petition under their corporate seal, prayed for certain additional powers and privileges to be granted to the said company, and it is expedient that the same should be allowed: Therefore, Her Majesty, by and with the advice and consent of the Legislative Council and Assembly of Canada, enacts as follows: 1. Any deed and conveyance, or written instrument, purporting to be under the corporate seal of the said Canada Company, or under the official seal of the said Canada Company, now or heretofore used by the attorneys of the said Canada Company in this Province, under the said last recited Act of the Imperial Parliament, shall be receivable in evidence as prima facie proof in any court of justice, or legal or equitable proceeding, or before any tribunal, or the Legislative Council or Assembly, that such deed, conveyance, or written instrument, has been duly executed by the said Canada Company, or by their attorneys, as the case may be, without any proof of the said corporate or official seal, as aforesaid, or of the signature or appointment, or of the official character, of the person or persons appearing to have signed the same. 2. Any deed, conveyance, or written 'instrument, or any meshall be suffi- morial of any deed, conveyance, or written instrument, purporting to be under the corporate seal of the Canada Company, or under the official seal of the said Canada Company, now or heretofore used by the attorneys of the said Canada Company cient for purposes of registration without fur in this Province, under the said last recited Act of the Imperial ther verificaParliament, shall be considered as duly executed by the said tion. Canada Company, or their said attorneys, as the case may be, for registration purposes, upon being produced to the registrar of any county, without any further proof or verification, and such registrar shall register the same without any further proof of such corporate or official seal or other proof whatever. firmed. 3. All leases made at any time by the said Canada Com- Leases by the pany, or by their attorneys for the time being, or by one or Company conmore of them, for the benefit of the said company, are hereby confirmed as to the power of the making and the due execution thereof by the said Company, but to no further or other extent whatsoever. charter. 4. The said Canada Company shall register a copy of their Company may charter under their corporate seal, in the office of the registry register a of deeds in and for the city of Toronto, and a printed or written copy of their copy of such charter, certified by the registrar of the city of Toronto, under his hand, to be a true copy of the said charter as registered in his office, shall be sufficient evidence of such charter, and of all the particulars contained therein, in any Effect of such court of justice or judicial proceeding, or before any tribunal, registration. or before the Legislative Council or Assembly, in any suit, matter, or cause whatsoever. 5. This Act shall be deemed a Public Act. CAP. CI. An Act to grant certain powers to the Canada West [Assented to 30th June, 1864.] Public Act. WHEREAS the Canada West Farmers' Mutual and Stock Preamble. Insurance Company have by their petition prayed, that in order to promote the interests of the Company, additional powers may be granted to them, and it is expedient to grant their prayer: Therefore, Her Majesty, by and with the advice and consent of the Legislative Council and Assembly of Canada, enacts as follows serve fund. 1. For the purpose of equalizing the assessments which the Company may said company is now authorized by law to make, and of pro- raise an equa viding for the speedy and certain payment of losses incurred lization or reand for expenses of management, the said company may, from time to time, raise an equalization or reserve fund by assessing its premium notes in such manner and at such times as shall appear most expedient to the directors; provided always, that Proviso: the sum to be paid by each member shall be in proportion to amount limithis premium note, and shall not exceed one per cent. for the three ed. Company may issue policies for cash, as well as for premium notes. Directors may issue debentures or notes, &c. three years' risk on the hundred dollars insured on isolated ordinary farm property, until the whole equalization or reserve fund be exhausted. 2. The company may issue policies and collect premiums in cash for insurance, for terms of one, two or three years, as well as policies with a premium note, and in any such case where a fixed cash rate is paid, the company may dispense with a premium note. 3. The directors shall have power from time to time to issue debentures or to make promissory notes of the company, bearfor loans, for ing interest at a rate not exceeding seven per cent. per annum, paying losses, or to make or accept bills or drafts, for such sums and to such an amount as may be necessary for the purpose of paying or of raising money by loan to pay any loss or losses sustained by the company, or expenses, or for other purposes of the company; but they shall not issue any note payable to bearer or intended to circulate as money or as a Bank note; provided always, that no such debenture, promissory note, bill or draft, shall be for a less amount than one hundred dollars. Not to issue Amount of debentures, &c., limited. Not to be payable at a longer date 4. The whole amount of such debentures, promissory notes, bills or drafts, at any one time outstanding, shall not exceed one fourth part the amount then unpaid on the deposit or premium notes held by the company. 5. Such debentures, promissory notes, bills or drafts shall not in any instance be drawn so as to become payable in more than one year, than one year after the issuing thereof. Assessment on premium notes to pay debts. Public Act. Preamble. 6. The directors of the said company may always assess upon the members thereof, in proportion to the amount of their premium notes respectively, such sum or sums as may be necessary to pay any such debentures, notes, bills or drafts then outstanding and the interest thereon. 7. This Act shall be deemed a Public Act. CAP. CII. An Act for the relief of the Western Permanent Building [Assented to 30th June, 1864.] W affairs |