tions, as they may judge necessary. They shall agree upon certain premiums, or authorise the presi- To agree up dent and directors so to do, to be paid by the person miums on certain pre Lien upon property insu red for premi ums or persons, who shall apply to have their property insured; which shall be deposited and kept as a fund, Funds how for the purpose of making immediate reparation to appropriated such persons as may sustain losses or damages by fire, after proof that the fire actually happened, unless it be proved that the proprietor of the buildings or property insured, did wilfully occasion the fire, directly or indirectly. If the funds should not be sufficient, a reparation among the whole of the persons insured shall be made ; and each shall pay on demand of the cashier, his, her or their share, according to the sum insured, and the rate of hazard at which the buildings stand, agreeable to the rates of the premiums; for which purpose, it is hereby de. clared, that the subscribers, as soon as they shall in sure their property in the assurance society aforesaid, do mutually for themselves, their heirs, executors, administrators and assigns, engage their property insured as security, and subject the same to be sold, if necessary, for the payment of such quotas.That these quotas shall always be so rated, as to raise and keep up a fund, so that the interest thereof, may be deemed by the president and directors, sufficient to pay the annual losses and expenses. If such quotas are found necessary, the president is to publish in some news-paper, how much the quota is, of each rate of hazard for every hundred dollars, whereupon the insured shall pay the same on application to the cashier, in whose office the property is insured. Whensoever any person or persons, shall neglect to pay such quotas, the assurance to him made, shall cease and discontiue, from the day on which they became due, until paid. To the end that purchasers, or mortgagees, of any property insured by virtue of this act, may not become losers thereby, the subscriber selling, mortgaging, or otherwise trans. fering such property shall, at the time, apprise the purchaser or mortgagee, "of such assurance; and endorse to him or them, the policy thereof. And in every case of such change, the purchaser or mortga Penalty on fai ling to pay quotas Upon a trang fer of proper ty insured, no tice to be giv en transfered Interest to be paid by sub scriber in ad Property insu red may be withdrawn gee, shall be considered as a subscriber in the room of the original; and the property so sold, mortgaged, or otherwise transfered, shall still remain liable for the payment of the quotas, in the same manner, as if the right thereof, had remained in the original owner. The subscriber in default of paying the premiums, at the times fixed therefor, shall, on request of the cashier, be compelled to pay the same with six per centum interest thereon to the day of payment ; and their property shall be liable to be sold for the same as aforesaid. Provided, that no lien shall be given by this act, to affect the rights of purchasers or mortgagees, without actual notice, unless the policy of insurance or assurance, shall have been previously recorded in the county court, in which the property insured or assured is situate. Sec. 2. Be it further enacted, That any subscriber, purchaser or mortgager of property insured by virtue of this act, shall be at liberty, on application to the cashier in whose office the property is insured, to withdraw such insurance; and the policy thereof to him or them, shall cease and discontinue, from the day on which application is made as aforesaid ; proNotice to be vided that notice thereof, shall be given in writing to given of inten the cashier, three months at least previous to such application: And, provided also, that the withdrawing such insurance, shall not release the property insured as aforesaid, from the payment of all such quotas as may be then due agreeably to the provisions of this tion to with draw Restricted act. SEC. 3. And be it further enacted, That if the said from the exer society shall at any time, attempt to exercise banking cise of Bank privileges, or otherwise violate, the true intent and ing privileges meaning of this act, the legislature shall have full Powers retain power to repeal this act, or from time to time, to ed by the Le pass such amendatory acts as they shall deem right. gislature. No person shall be considered as a member of the corWho consider ed members poration aforesaid until he shall actually have received of the corpora his policy, and paid his premium thereon, except that tion for organizing the corporation, those who do annex their names to the subscription papers herein provided for, shall have power to vote at the first meeting of the society, and until policies are issued to the whom return amount of $ 20,000 and until policies to that amount are issued, no policy shall be considered as binding on the company. The commissioners ap- Subscription pointed, or authorised to be appointed by this act, Papers to shall make return of their subscription papers, to ed Thomas T. Barr, Thomas January and Charles Wilkins, when they shall be called on there for; and the said Thomas T. Barr, Thomas January and Charles Wilkins, shall be authorised to advertise the first meeting first meeting of the subscribers, and to call other sed meetings until the corporation shall be organized. The bye-laws shall regulate the mode of voting, the Mode of vo number of votes which members of the corporation ting to be reg shall be entitled to, in proportion to the amount of ulated by bye their policies, and the manner of voting by proxy. allowance to be adverti laws insurance, to be regulated by the rela tive situation of property SEC. 4. Be it further enacted, That in fixing on Distinction in the amount of premium, to be paid by the members the rates of of the said assurance society, a proper shall be made between houses situated in the country and those in towns, in proportion as they are more or less exposed to the ravages of fire; and a due regard shall be had to the materials of which houses to be insured are built, raising or lowering the premiums as they may be more or less subject to take fire. Further re Sec. 5. Be it further enacted, That nothing in this strictions act contained, shal authorise the establishment of a bank nor shall said society issue any bills of credit, or any thing of the kind-nor shall they do any thing by any ways or means, to effect these objects. Their acts shall be confined to the insuring of houses only, as expressed in the act; and no money paid in as premiums, shall be appropriated in any way, except as is contemplated by this act. CHAP. CCLXIX. AN ACT Authorising Joseph Love and others to locate and survey Lands for Iron works. APPROVED, January 31, 1811. W HEREAS Joseph Love, Jeremiah Stone, Absalom Thompson and John Smith, have discov P Preamble 2000 acres of ons concern ing it ered a bank of iron ore in the county of Pulaski ; which if worked, would be of advantage to the community: But it being represented to the Jegislature, that the title to said bank of iron ore is in the commonwealth: And whereas the said Joseph Love and others, have petitioned for a grant to two thousand acres of land, including said bank of iron ore, for the purpose of establishing iron worksTherefore, BE it enacted by the general assembly, That two land granted, thousand acres of land be granted to Joseph Love, and regulati- Jeremiah Stone, Absalom Thompson and John Smith, in Pulaski county, including a bank of iron ore, said to be discovered by the said Joseph Love and others; which said tract of land is granted to the before named persons, for the purpose of erecting iron works thereon, or making castings from the said bank of ore and the said Joseph Love and others, may cause to be surveyed by a proper sur veyor, and returned to the register's office as in other cases, a platt of said survey, which shall not exceed one third more in the length than the breadth; and shall not interfere with any other survey, or patented land; nor with any other actual settler or settlement, although the same may not be legally appropriated according to law and the said Joseph Love and others shall, within six years, pay into the treasury of the commonwealth, ten dollars per hundred acres; and upon producing to the register of the land office, the auditor's quietus for the treasurer's receipt, for the sum aforesaid, the register shall issûe a grant, as in other cases of a like nature, to the said Love and others: Provided, the said Love and others, making the said survey, shall not include therein any lead or silver mine; and shall moreover, erect, or cause to be erected, within four years, iron works of the usual dimensions, and put the same into actual operation, as is customary at iron works-otherwise, the land aforesaid, shall revert back to the commonwealth. CHAPTER CCLXX. AN ACT Granting certain Lands to John Francis and Richard APPROVED, JANUARY 31, 1811. HEREAS, it is represented to the present general assembly, By the petition of John Francis and Richard Slavey of the county of Wayne, that they have discovered a salt spring in said county, on waste and unappropriated land, which water if worked, might be of great public utility: SEC. 1. BE it therefore enacted by the General Asé Preamble sembly of the commonwealth of Kentucky, That one 1000 acres of thousand acres of land, to include the salt water be, land granted and the same is hereby granted to the said John Francis and Richard Slavey-subject however, to the conditions and restrictions herein after provided. Sec. 2. Be it further enacted, That it shall and may To be entered be lawful, for the said John Francis and Richard with the sur veyor of Slavey, to enter with the surveyor of the said county Wayne, and of Wayne, the said one thousand acres of land, to how include the said salt water, near to which the said Richard Slavey now lives, and also to include the mouth of Bear creek but which one thousand acres of land, so to be entered, shall not in length exceed its breadth more than one third; upon which entry a survey may be made, and returned to the register's office, as in other cases. а Sec. 3. Be it further enacted, That no grant shall No grant to be issued by the register of the land office for the issue until certain quan said Francis and Slavey, their heir or assigns, un- tity of salt be til they, or one of them, shall prove to the county or made circuit court of Wayne, that they have manufactured, or caused to be manufactured of the salt water on said land, at least one thousand bushels of salt; and if the said Francis and Slavey, their heirs or assigns, shall fail to make the said proof to one or the other of |