prepare, and keep solely for the purpose, a record of the incorporation of religious bodies, where he shall record at length the certified copies sent to and filed with him, together with the date of filing, as provided in this section. The secretary of state shall be entitled to a fee of three dollars for recording, certifying and filing the papers aforesaid, to be paid when the papers are filed, and from the time of filing such copy with the secretary of state the incorporation of the religious society or organization shall be complete. 7419. Certificate, as evidence. 89. A certified copy of the proceedings, signed by the moderator or presiding officer of the incorporated body and attested by the stated clerk or secretary of the same, or a certified copy of the record from the secretary of state, shall be prima facie evidence of the incorporation of any religious organization named in this act in any of the courts of this state.

7420. Powers-Donation-Power of recall thereof. § 10. Every such organization provided for in this act, when incorporated as herein provided, shall be deemed and held to be a corporation, and shall have and possess the powers, rights, privileges and franchises given to corporations, and their trustees and successors in office shall constitute a body politic and corporate under the name adopted in their proceedings, and every such religious organization shall have power to acquire by purchase, donation, devise, gift, subscription or otherwise such real estate or personal property as is now possessed by other corporations under the laws of the state of Indiana, subject to the rights of the legislature at all times to restrict the powers of the incorporation or to amend the laws governing the same.

7421. Record of proceedings - Fees-Real estate. § 11. In the county where any real estate is situated owned by such incorporated body, a certified copy of the record referred to in sections five and six of this act, from the minutes of the organization, signed by the moderator or presiding officer and attested by the stated clerk or secretary of the body must be filed in the recorder's office of the county and recorded in the miscellaneous record of that office and properly indexed therein, and the recorder, on the margin of such record where the same is recorded, shall refer to the book and page of all deeds or transfers by or to the society or organization, and on the margin of each deed by or to the said society or religious organization as aforesaid, where the same is recorded. corder shall refer to the miscellaneous record by book and page where the certified copy of the incorporation is recorded; and the recorder shall be entitled to one dollar for recording the certified copy of incorporation, and the sum of one dollar for each deed recorded, and twenty-five cents for indexing and marginal references as herein provided.

7422. By-laws-Quorum. § 12. Such religious organization when duly incorporated under this act, may establish such rules and by-laws as may be necessary or proper for its government, and may determine how many members shall constitute a quorum, and provide for filling vacancies in the board of trustees, and the number of the same, and whenever the time arrives that a majority of the board of trustees elected have died or resigned, or their places become vacant for any cause, then an election shall be had as provided in sections five and six of this act, for an entire new board of trustees.

7423. Real estate; transfer of. § 13. Such religious organization when duly incorporated as provided in this act may at any regular or called

meeting, by a majority vote, direct the trustees as to the sale or transfer of any real or personal property, and in any deed or transfer by said trustees shall refer to the date, book and page where such action was taken, and no deed or transfer shall be valid unless approved by the moderator or presiding officer of such regular or called meeting, indorsed on said deed and shall be recorded therewith.

7424. Emergency. § 14. Whereas, there is now no law for the incorporation of religious organizations mentioned in this act, an emergency exists for the immediate taking effect of this act, and the same shall take effect and be in force from and after its passage.

NOTES TO CHAPTER 30.

CORPORATIONS-GRAVEL AND OTHER ROADS.

ARTICLE I— INCORPORATION AND CONSOLIDATION.

3637. Stock transferable. This section declares, inter alia, that 'any person becoming a shareholder by assignment of stock shall succeed to all the rights and liabilities of his assignor." By the word "assignment" the statute intends a transfer by writing as distinguished from a transfer by delivery. A corporation can not be compelled by mandamus to do that which it would be without authority to do voluntarily. So, as a turnpike company has no power to transfer upon its books stock which stands in the name of one person to another without the production of a written assignment, power of attorney or some valid evidence of title, mandamus will not lie to compel it to do so; B. Turnp. Co. v. State, ex rel., 119-385.

3641. Failure to construct. A gravel road company, by its articles of association, undertook to construct a road nine miles in length. In an action to secure the forfeiture of the company's charter it was alleged that the company had completed, within the time limited, only six miles of the road and had not reached any one of four places named in its articles. It was, also, charged that the directors of the corporation had failed to report to the secretary of state, pursuant to this section. Under the statute the failure to construct the entire line does not forfeit the right to the part actually constructed; to the contrary, this section expressly provides that the rights and privileges conferred shall be restricted to the part actually constructed. If, however, any doubt could exist as to the proper construction of the statute it must be resolved to avert a forfeiture if it can be reasonably done. Subsequent legislation does not change the rule but simply grants further time in which to construct. The default of the directors in not reporting does not work a forfeiture of corporate existence; State, ex rel. v. B. & R. V. G. R. Co., 120-338.

3646. Sales on execution. The statutes which provide for the organization of gravel road companies and the construction of gravel roads, authorize the sale under execution of a road and its franchises, by this section, and section 3654 declares that in the event of such a sale, "upon any judgment rendered against the same, a director or officer of the company shall have the same right to purchase such road that any other person might have under existing laws. By section 3665 such a company may sell any part, or section, of its road to any other party or corporation, and authority is given to convey, by deed, the section or part so sold, together with all the rights, properties and franchises thereunto pertaining. So, where the property and franchises of such a company are sold at a constable's sale under execution, and the sale so made is ratified and confirmed by the company's board of directors by a subsequent sale and conveyance to the purchaser at the execution sale, the purchaser may, by pursuing the mode provided for the organization of gravel road corporations, organize a new company, for the purpose of owning and operating the road, in pursuance of the law authorizing and governing such corporations. The new company, in such case, would take precisely the rights acquired by the purchaser. Such being the state of case, the sale by the directors having been made under authority of the statute, in consideration of the purchase at the execution sale and the agreement of the purchaser to keep the road in repair, the state can not, so long as the parties in interest are content, by a proceeding by information in the nature of quo warranto, assail the purchase on the ground of inadequacy of consideration or that it was the result of a scheme to defraud certain of the stockholders; State, ex rel. v. Hare, 121-310.

ARTICLE 2- - FRANCHISES AND EXTENSIONS.

3667. Time to complete road. The effect of this section and of the act of December 20, 1865, is simply to preserve the rights of gravel road corporations which complete their roads within the time designated to the entire line designated in the articles of association. These provisions in no way impair the right to the part of the road actually completed under the provisions of section 3641; State, ex rel. v. B. & R. V. G. R. Co., 120-339.

AN ACT to amend section two of an act approved December 20, 1865, entitled "An act to amend sections thirty-nine, forty-two, forty-five and fifty-four of an act entitled an act for the incorporation of insurance companies, defining their powers and prescribing their duties, approved June 17, 1852," being section 3749 of the Revised Statutes of 1881, and declaring an emergency. [Approved and in force March 9, 1889; S., 1889, p. 346.

7425. [3749] How organized — Organization, when complete. SEC. 1. Be it enacted by the General Assembly of the State of Indiana, That section two of said act, approved December 20, 1865, entitled An act to amend sections thirty-nine, forty-two, forty-five and fifty-four of an act, being 3749 of the Revised Statutes of 1881," be and the same is hereby amended so as to read as follows, to wit: § 2. (Section 42.) When application for insurance in which there shall be taken not less than a hundred thousand dollars, in bona fide premium notes and $20,000 in cash by any such company, and of which it shall be at the time possessed, and proof of the same is furnished to the auditor of state, the books containing the same verified by the secretary of the company, and examined and approved by him, as evidenced by his certificate, such company may issue policies of insurance and renewals on the same, for a term not exceeding seven years, against loss or damage by fire, lightning, or tornado, upon any dwelling house or other buildings, merchandise, or other property, within the United States: Provided, however, that companies already organized and in active operation shall not be affected hereby.

7426. Emergency. Whereas, an emergency exists for the immediate taking effect of this act, it shall, therefore, take effect and be in full force from and after its passage.

AN ACT authorizing actuaries of mutual fire insurance companies or associations to administer oaths in certain cases and declaring an emergency. [Approved and in force March 9, 1891; S., 1891, p. 375.

7427. Actuaries, administer oaths - Adjustment of losses. SEC. 1. Be it enacted by the General Assembly of the State of Indiana, That actuaries of mutual fire insurance companies or associations organized by virtue of the laws of this state, for the purpose of mutual insurance of the property of its members against loss by fire or damage by lightning; which property to be insured shall embrace dwelling houses, barns, accompanying out-buildings and their contents, farm implements, hay, grain, wool and other farm products, live stock, wagons, carriages, harness, household goods, wearing apparel, provisions, musical instruments and libraries, such

property being upon farms as farm property, shall have the authority to administer oaths to the insured and all persons necessary to be examined as witnesses in the adjustment of losses to the property, of persons insured in said companies or associations where such loss was caused by fire or lightning.

7428. Emergency. § 2. Whereas, an emergency exists for the immediate taking effect of this act, the same shall be in force from and after its passage.

SEC.

ARTICLE 2a - LIFE INSURANCE, ON ASSESSMENT PLAN.

7429. Title of act amended.
7430. Foreign states- Retaliatory section.
7431. Emergency.

AN ACT to amend the title and section fourteen (14) of an act entitled "An act to provide for organizing and regulating the business of life insurance companies, associations and societies transacting business on, what is known as, the assessment plan and fixing penalties for the violation of its provisions and declaring an emergency," approved March 9, 1883, and declaring an emergency. [Approved and in force March 8, 1889; S., 1889, p. 318.

7429. [3762a] Title amended. SEC. 1. Be it enacted by the General Assembly of the State of Indiana, That the title of said act shall, hereafter, read as follows: An act to provide for organizing and regulating the business of life or accident insurance corporations, associations or societies, transacting business on, what is known as, the assessment plan, and fixing penalties for the violation of its provisions, and declaring an emergency, approved March 9, 1883.

7430. [3762n] Foreign states-Retaliatory section. § 2. That section fourteen (14) of said act be amended to read as follows: Section 14. When any other state or government shall impose any obligation upon such corporation, association or society of this state, or their agents, transacting business in such other state or government, the like obligations are hereby imposed on similar corporations, associations or societies of such other state or government, and their agents or representatives transacting business in this state. See note to § 3773, post.

7431. Emergency. 3. An emergency existing for the immediate taking effect of this act, therefore, the same shall be in force from and after its passage.

AN ACT to amend section 8 of an act entitled "An act to provide for organizing and regulating the business of life insurance corporations, associations and societies, transacting business on what is known as the assessment plan, and fixing penalties for the violation of its provisions and declaring an emergency, approved March 9, 1883," which title was amended by an act approved March 8, 1889, so that said title now reads as follows: "An act to provide for organizing and regulating the business of life or accident insurance corporations, associations or societies, transacting business on what is known as the assessment plan, and fixing penalties for the violation of its provisions and declaring an emergency, approved March 9, 1883," and declaring an emergency. [Approved and in force March 9, 1891; S., 1891, p. 409.

7432. [3762h] Annual statement - Verification-PublicationFee. SEC. 1. Be it enacted by the General Assembly of the State of Indiana, That section 8 of said act be amended so as to read as follows: Section 8. Any corporation, association or society, carrying on the business of life or accident insurance on the assessment plan, shall submit annually, on or before the 28th day of February, under oath, to the auditor of state, a detailed statement of assets, liabilities, insurance in force, and number of persons upon whom risks are in force on the preceding 31st day of December, and answer such interrogatories as the auditor of state, who shall furnish a blank for the purpose, may, under the provisions of this act, make in or