| 168 | A M I | |
pays to the Society for the yearly contri-
butions on the three numbers no more
than 5l. each, which is considerably less
than 5l per cent. under which rate no
other office will insure, and that for one
year only; at the end of which such of-
fices are at liberty to refuse any further
insurance: whereas in this Society the
insurance continues during the life of the
insured, unless excluded by the non-
payment of the quarterly contributions.
And every insurer, or their representa-
tives, at the end of their insurance may
in a great measure (if not entirely) reim-
burse themselves their purchase-money
(originally paid by them for their num-
bers) by disposing of them at a market
price, which they may do without any
farther trouble than applying to the So-
ciety's office.
The regulations of the Society are as
follow:
All persons at the time of their admis-
sion are to be between the ages of
twelve and forty-five, and must then ap-
pear to be in a good state of health.
Persons living in the country may be
admitted by certificates and affidavit,
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| A M I | 169 |
forms of which may be had at the of-
fice.
Every claimant is impowered to put
in a new life in the room of the deceased
within twelve calendar months next after
the end of the current year, for which
his or her claim shall be allowed as often
as the same shall happen, upon payment
of 10s. entrance.
Any person may have two or three seve-
ral insurances, or numbers, on one and
the same life, whereby such persons
will be intitled to a claim on each number
so insured.
The affairs of the corporation are manag-
ed by a court of twelve directors annually
chosen within forty days after every 25th
of March; and the majority of the
members assembled at a general court,
which is never to consist of less than
twenty, are impowered to make laws
and ordinances for the good govern-
ment of the corporation. The char-
ter directs one of the members of the So-
ciety to be elected their Register, who
being also their receiver and accomptant,
is therefore required by the by-laws to
give good security in the sum of 2000l.
at least.
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