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1815 585 (1815)

handle is hein.ssl/ssma0422 and id is 1 raw text is: LAWS OV TflZ COMMONWEALTH OF MASSACHUSETTS, PASSED BY THE GE:z:VRAL COURT9 AT TIlE SESSIUN, CO%1MENCING ON TIlF EIGHTEENTH DAY 0?r JANUARY, AND ENDING ON THE FIRST DAY OF MARCHI, 1815. CHAP. LXXX. An Act to authorize the Suffolk Insurance Company to reduce its capital stock. SEC. 1. BE it enacted by the Senate and House of .Representatives in General Court assembled, and by the authority of the same, That the Suffolk Insurance Cumpany be, and they hereby are authorized to rc.,1,L1,tan tock. duce the capital stock of the said Corporation, to one hundred thousand dollars, and to divide the excess among the Stockholders, in proportion to their re- spective shares, in such way and manner as a major part of the Stockholders, at a meeting to be called for that purpose, shall decide ; and that in estimating the value of the property to be retained by said Corpora. tion, regard shall he had to its specie cost: Provided pr',, Jnwever, Tlbit the said corporation shall never take any sum, upon any one risk, exceeding ten per cent. um on the amount of the capital so reduced. SF.c. 2. Be it further enacted, That Epes Sargent, Esq. President of said Corporation, be) and lie is