Chap. 0120 An Act relating to deposit notes of mutual fire insurance companies.

Be it enacted, &c, as follows:

. Section 1. Mutual fire insurance companies incorporated under the laws of this Commonwealth prior to the third day of June in the year eighteen hundred and fifty-six, may take deposit notes for such portion of the premiums reserved by their policies, as their by-laws may provide.
Section 2. All deposit notes heretofore taken by such companies in excess of the amount provided for by section fifty-eight of chapter fifty-eight of the General Statutes, shall be deemed to have been legally taken.
Section 3. The total amount of the liability to assessment of the policy-holder, shall hereafter be plainly and legibly stated on the back of every policy of insurance, issued by a mutual fire insurance company.
Approved April 6, 1876.