Section 1^st Be it enacted by the People of the State of Illinois represented in the General Assembly That John W. Shinn[,] W^m D Cogswell, Thomas J Little, Joel Wright, Augustus L Davidson, George W Gould, Jonathan Coykendall; Luke Webster, Priam B Hill, Daniel W. Vittum, Thompson Maple, H. Snow, John G Piper and all other persons who may hereafter become members of said company in the manner herein prescribed, be, and they are hereby incorporated and made a body politic by the name of the Fulton County Mutual Fire Insurance Company for the purpose of insuring their respective dwelling houses and other buildings with their contents against loss or damage by fire whether the same shall happen by accident[,] lightning or by any other means excepting that of design in the insured or by the invasion of an enemy or insurrection of the citizens of this or of any of the United States and by that name may sue and be sued[,] plead and be impleaded[,] appear[,] prosecute and defend in any court of record or other place whatever may have and use a common seal[,] may purchase and hold such real and personal estate as may be necessary to effect the objects of their associations and they may sell and convey the same at pleasure[,] may make and establish and put in execution such by-laws[,] ordinances and resolutions not being contrary to the Laws of the State as may seem necessary or convenient for their regulation and government and for the management of their affairs and do and execute all such acts and things as may be necessary to carry into full effect the purposes intended by this grant

Section 2^nd All and every person or persons who shall at any time become interested in said Company by insuring therein and also their respective heirs[,] executors[,] administrators and assigns continuing to be insured therein as hereinafter

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provided shall be deemed and taken to be members thereof for and during the times specified in their respective policies and no longer and shall at all times be concluded and bound by the provisions of this act

Section 3^rd That the said company may as soon as Ten thousand Dollars shall be subscribed to be insured and they are hereby authorized to insure for the term of from one to Five years any dwelling house or other building ^Together with its contents^ within the county of Fulton ^or any other county in the State of Ill.^ against damage arising to the same by Fire originating in any cause except that of design in the insured and to any amount not exceeding three fourths of the value of any Building and in case any Member shall sustain damage by Fire over and above the then existing funds of the said company the Directors may assess such further sum or sums upon each member as may be in proportion to the sum by him insured and the rate of hazard originally agreed upon, Provided nevertheless that no member during the term of Five years shall be held to pay by way of assessment more than two Dollars for each dollar by him advanced as premium and deposit

Section 4 That the moneys advanced by each person insured sha[ll] within sixty days after such advancement be vested in Notes and bonds secured by mortgages at the discretion of the President and Directors and the proceeds of the same shall be appropriated and applied to pay the damages or loss that any member shall sustain by Fire and to defray the expenses of the Company and each of the insured shall at the expiration of his Policy or Policies have a right to demand and receive from the company his share of the remaining funds in proportion to the sum or sums by him actually paid

Section 5 There shall be a meeting of said company at Canton in the county of Fulton on the First Monday of May annually or on such other day as the said company may hereafter determine at which shall be chosen by a major vote of the members present a Board of Directors consisting of not more than nine nor less than five members who shall continue in office untill others shall have been chosen and accepted the trust in their stead All vacancies happening to said

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Board may be filled by the remaining members untill the next annual meeting and a majority of the whole number shall constitute a quorum for the transaction of business Special meetings of the Company may be called by order of the Directors or in such manner as the by-laws thereof may have prescribed

Section 6 The Board of Directors shall superintend the concerns of said company and shall have the arrangement of the funds and property thereof and of all matters and things thereunto relating not otherwis[e] provided for by said company They shall have power from time to time to appoint a Secretary[,] Treasurer and such other officers[,] agents and assistants as to them may seem necessary and to prescribe their duties[,] fix their compensation[,] take such security from them as they may deem necessary for the faithful performance of their respective duties and may remove them at pleasure They shall determine the rates of insurance the sum to be insured on any building not exceeding three fourths of its value and the sum to be deposited for their insurance thereof. They shall order and direct the making and issuing of all policies of insurance[,] the providing of Books[,] stationary and other things needful for the office of said company and for carrying on the affairs thereof and draw upon the treasurer for the payment of all losses which may have happened and for the expenses incurred in transacting the concerns of said Company They shall elect one of their own number to act as President and may hold their meetings monthly and oftener if necessary for transacting the business of the company and shall keep a record of their proceedings and any Director disagreeing with a majority of the Board at any meeting may enter his dissent with his reasons therefor on record

Section 7 That in case of any loss or damage by fire happening to any member upon property insured in and with said company the said member shall give notice thereof in writing to the Directors or some one of them or to the Secretary of said company within Sixty days from the time such loss or damage may have happened and the Directors upon a view of the same and inquiry into the circumstances, or in such other way as they may deem proper shall ascertain and determine in writing under their hands the amount of said loss or damage and if the party suffering is not satisfied with the determination of the Directors the question may be submitted to referees or the

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said Party within thirty days ^one year^ next after such determination be made known by said Directors may bring an action at law against said Company for such loss or damage at any court to be holden in and for the county of Fulton And if upon the trial of said action a greater sum shall be recovered than the amount determined upon by the Directors the party suffering shall have judgement therefor against said company with interest thereon from the time said loss or damage happened and costs of suit But if no more shall be recovered than the amount aforesaid the said Party shall become [non?] suit and the said company shall recover their costs Provided however that the judgement last mentioned shall in no wise affect the claim of said suffering party to the amount of loss or damage as determined by the Directors aforesaid and provided also that execution shall not issue on any judgement against said company untill after the expiration of three months from the rendition thereof

Section 8 That so soon as the amount of the Company’s liability shall be ascertained in either of the ways mentioned in the act (and the funds on hand not being sufficient) the said Directors shall make an assessment upon the Members of the said corporation agreeably to the principles of this act and deliver the same to the Treasurer of the said company to collect

Section 9 That whenever the said company shall make insurance upon any Dwelling House or other Building the said Dwelling house or other Building insured together with the land under the same shall be held by the said company as security for the sum of the deposit money required to be paid or secured upon such insurance together with such assessment or assessments as the member[s?] of the said company thus insured shall be liable to pay And the Policy of insurance to any member upon his said Dwelling house or other Building shall of itself from the time it issues create a lien upon such Dwelling House or other Building and the Land under the same to the amount of the sum of such deposit money and any assessment or assessments which may be made upon the insured as a Member of said

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Section 9^th continued) Company and the cost which may accrue in collecting the same without any other act or ceremony in law whatsoever And said lien shall continue and be in force upon such Dwelling house or other Building insured with the Land under the same for the security to said Company of the payment of said deposit money and the assessment or assessments upon the Member so insured with costs untill the said deposit money with the sum or sums of said assessments shall be paid or otherwise satisfied to or released by said Company notwithstanding any transfer or alienation thereof Provided nevertheless that nothing herein contained shall restrict said company from receiving any other security in lieu of said lien for said deposit and assessments upon which their authorized agents and the insured may agree and provided also that in all cases when the said Company rely upon the security of the lien created by the Policy it shall be expressed in said Policy that the insurance is made upon the said Dwelling house or other Building insured subject to the lien created by law

Section 10 That if any member of said Company who shall obtain insurance of his Dwelling house or other Building subject to the lien aforesaid or in case of his decease his legal representatives shall neglect for the space of thirty days next after demand made by the authorized agent or agents of said Company (which demand may be in such manner as said Company shall in their by laws direct) to pay the sum of the deposit money upon the insurance of his Dwelling House or other Building or any assessment or assessments made upon him as a member of said Company he shall be liable to the suit of the Company therefor in an action of the case in any Court of competent Jurisdiction and the said company having obtained judgement and execution for the amount of such deposit money assessment or assessments may at their election cause the said execution to be levied upon the said Dwelling house or other Building insured with the land under the same and the Officer having said execution shall proceed to satisfy the same

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by the sale and conveyance of said Dwelling House or other Building with the Land under the same in the same manner and after the like previous advertisement and notice as is provided by law when the right of redeeming Real Estate is sold which has been conveyed in mortgage saving to the owner or owners of such Dwelling House or other Building with the Land under the same the Right of Redemption at any time within one year from the time of sale by paying the purchaser or any under him the sum for which it was sold and interest at the rate of twelve per cent deducting therefrom the rents and profits over and above the necessary repairs Provided however that in case of the alienation and transfer by deed or1 record of any Dwelling House or other Building insured with the land under the same previous to the levy of said execution notice of the intended sale shall be given by the officer to the owners thereof or his tenant in possession instead of the debtor in said execution and the excess of money if any shall arise from any sale as aforesaid beyon[d] satisfying the debts[,] costs and necessary intervening charges shall be returned by the officer to the debtor, in the execution or in case of an alienation by him as aforesai[d] to the owner thereof at the time of the levy of said execution

Section 11^th The Directors shall settle and pay all losses within three months after they shall have been notified as aforesaid unless they shall judge it proper within that time to rebuild the house or houses destroyed or repair the damages sustained which they are hereby empowered to do in convenient time Provided they do not lay out and expend in such building or repairs more than the sum insured on the premises but [an?] allowance is to be made in estimating damage in any case for gilding historical or landscape painting statue or carved work nor are the same to be replaced if destroyed by fire

Section 12^th If any alteration should be made in any house or building by the proprietor thereof after insurance has been made thereon by said company whereby it may be exposed to greater risk or hazard from fire than it was at the time it was insured then and in every such case the insurance

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made upon such house or building shall be void unless an additional premium and payment after such alteration be settled with and paid to the Directors, but no alterations or repairs in buildings not increasing such risk or hazard shall in any wise effect the insurance previously made thereon

Section 13^th If insurance on any house or building shall be and subsist in said company and on any other office or from and by any other person or persons at the same time the insurance made in and by said company shall be deemed and become void unless such double insurance subsist with the consent of the Directors signified by endorsement on the back of the Policy signed by the President and Secretary

Section 14^th That any two of the members persons herein named are hereby authorized to call a meeting of the members of said company at Canton at such time as they shall think fit by advertising the same in the Newspaper printed at Canton fourteen days at least previous to said meeting