Chapter 233. supplemental to and amendatory of an act to incorporate the Mutual Fire Insurance Company of the District of Columbia
270 words·~1 min read·
/statutes-at-large/vol-23/chapter-233-666137·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CHAP. 233.— An Act supplemental to and amendatory of an act to incorporate the Mutual Fire Insurance Company of the District of Columbia.July 5, 1884. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*,Mutual Fire Insurance Company of the District of Columbia.Failure to pay interest, etc., shall be deemed a lapse of the policy of insurance. That whenever the holder or holders of a policy or policies of insurance hereafter issued in the Mutual Fire Insurance Company of the District of Columbia shall have failed for the full period of three years to pay the interest or any lawful assessment due upon his or their premium note or notes, such policy or policies of insurance shall be deemed to be lapsed, and the board of managers may proceed to settle and cancel the same, after a previous advertisement of their intention to do so, to be inserted in two newspapers printed and published in the city of Washington, once in each week, for the period of three consecutive months, and after serving, besides, whenever practicable, a personal notice in writing, for a like period of time, upon the holder or holders of such policy or policies, or in the event of his or their death, upon the legal representatives of suchSettlement, etc. holder or holders.
Sec. 2. That the cost of such advertisement and notice shall be deducted from the sum or sums of money which may be found to be due on the settlement of said policy or policies to the holder or holders thereof. Approved, July 5, 1884.