Page:Ruffhead - The Statutes at Large - vol 5.djvu/345

 A. D. 1719. Anno fexto Georgii Regis. C. 18. 305 IX. And be it further enacted by the Authority aforefaid, That the particular Share and Shares of theSharca in the refpective Member? of mid in the Capital or Joint Stock or Stocks of the two refpective Corporations be- 1 -' I fore-mentioned, from Time to Time fhall be transferable, affignable and devifeable, and their Billj, t ™ ] n '' er. l ? b !'j .Bonds and Obligatiorisj fiiall be affignable and recoverable, in fuch Manner and Form as his Majcfty, by the faid refpective Charters or Indentures fhall prefcribe and appoint, as well in relation to fuch Share an 1 Shares of Stock, as in reference to fuch Bills, Bonds or Obligations refpectively ; and that the Ca-^"^' per'o 1 "' pita! Stocks of the laid respective Corporations, intended to be erected and eftablifhcd in pirfuancc of th is t0 e^ C u "or t.° £ ° Act, and the Share and Interelt of each and every particular Member thereof and therein, fhall be deemed and adjudged in all Courts of Law and Equity, and elfewhere, to be a perfonal and not a real Eftatc, and /hall go to the Executors or Adminiftrators of the Perfon or Perfons dying poffeffed thereof, or entitled thereunto, and not to the Heir of fuch Perfon or Perfons ; any Law, Statute, Ufage or Cuftom to the contrary notwithstanding. X. And be it further enacted by the Authority aforefaid, That the Capital Stock and Stocks of the faid^'' ' refpective Corporations, to be eft tblifhed purfuant to this Act, and the Shares, Parts and Intcreft of the' " r-efpedtive Adxmbers cf the fame Corporations, of and in the fame Capital Stock and Stocks, or the Stock of Money to be railed for the Purpofcs in this Act fhall, during the Continuance thereof, be exempted, and are hereby exempted from any Taxes, Rates, Affeffnents or Iinpofitions whatfoever by Act of Parlia- ment, or otherwife ; and that no Perfon which fiiall be Governor, Director, or other Officer of either of the (aid Corporations to be erected, as aforefaid, fiiall for that Caufe only be difabled from being a Mem-™ ber of Parliament, nor fhall in refpect of fuch Share or Sh ires be or be adjudged liable to be a Bankrupt,; within the Intent and Meaning of all or any the Statutes made againft or concerning Bankrupts, and that no Stock in the faid refpective Corporations fiiall be fubject or liable to any foreign Attachment by the Cuftom of London, or otherwife ; any Law or Statute to the contrary notwithftanding. XI. And be it further enacted by the Authority aforefaid, That it fhall and may be lawful for his Ma- ] ~ jelty, in and by the faid refpective Charters or Indentures, to grant to the faid refpective Corporation thereby to be erected or conftitutcd, Power to make By-Laws and Ordinances, and fuch further Powers, , Authorities, Privileges anct Advantages, relating to the faid Affurances of Ships, Goods, and Merchan* &c. dizes at Sea or going to Sea, or lending Money upon Bottomry, as aforefaid, as to his Majefly fhall feem meet, and to fubject the fame Corporations refpectively, and the Powers, Authorities, Privileges and Ad- vantages fo to be granted theunto, as aforefaid, every or any of them, to fuch Reftrictions and Regula- tions, as to his Majelty fnall feem moft expedient, and in the fame Charters or Indentures refpectively fhall be expreiled. XII. And be it further enacted by the Authority aforefaid, That from and after the granting or making D '-' rin ? the two of the faid refpective Charters or Indentures for erecting the two Corporations before-mentioned, arid^l r|,0 g ati. on. s ; no palling the fame under the faid Great Seal, for and during the Continuance of the fame Corporations i^-^ay-aSiut-htiias, fpectively.j or either of them, all other Corporations or Bodies Politick, before this Time erected or efbi- or lend Money blilhed, or hereafter to be erected or e'Tnblifhed, whether fuch Corporations or Bodies Politick, or any of<"> Eoitomiy. thern, be fole or aggregate, and all fuch Societies and Partnerfhips as now are, or hereafter fhall or may be entred into by any Perfon or Perfons, for alluring Ships or Merchandizes at Sea, or for lending Money upon Bottomry, fiiall by Force and Virtue of this Act be reftrained from granting, figning or under-wri- ting any Policy or Policies of Affurance, or making any Contracts for Affurance of or upon any Ship or Ships, Goods or Merchandizes at Sea or going to Sea, and from lending any Monies by way of Bottomry, as aforefaid ; and if any Corporation or Body Politick, or Perfons acting in fuch Society or Partncrfliip (other than the two Corporations intended to be eftablifhed by this Act, or one of them) fhall pfeTume.^ e " alt 5' f* to grant, fign or underwrite after the four and twentieth Day of June one thoufand feven hundred and Z twenty, any fuch Policy or Policies, or make any fuch Contract or Contracts for Affurance of or upon any Ship or Ships, Goods or Merchandizes at Sea or going to Sea, or take or agree to take any Premium or other Reward for fuch Policy or Policies, every fuch Policy and Policies of Affurance of or upon any fuch Ship or Ships, Goods or Merchandizes, fhall be ipjo faJio void, and all and every Sum and Sums fo figned or underwritten in fuch Policy or Policies fiiall be forfeited, and fhall and may be recovered, to wit, One Moiety thereof to the Ufe of his Majefly, his Heirs and Succeffors, and the other Moiety thereof to the Ufe of fuch Perfon or Perfons as will inform or fue for the fame, in any of his Majefty's Courts of Record i&Weftminflef, in which Action, Suit or Information, no Eflbin, Protection, Privilege, Wager of Law, or more than one Imparlance fiiall be granted or allowed : And if any Corporation or Body Politick, or Penalty for Perfons acting in fuch Society or Partnerfhip, as aforefaid, other than the two Corporations intended to be le "ding Momy eftablifhed by this Act, or one cf th m, fhall prefume to lend, or agree to lend, or advance, by themfelves, 011 B °K° m <y- or any others on their Behalf, after the faid four and twentieth Day of "June one thoufand feven hundred and twenty, any Money by way of Bottomry, as aforefaid, contrary to t is Act, the. Bond or other Secu- rity for the fame fhall be ipjo facio void, and fuch Agreement fhall be adjudged to be an ufurious Contract, and the Offenders therein if all fufter as in Cafes of Ufury : Neverthelefs it is intended and hereby declared, That any private or particular Perfon or Perfons fiiall be at Liberty to write or underwrite any Policies, or Hut a "y private engage hirnfelf or herfelf in any Affurances of, for, or upon any Ship or Ships, Goods or Merchandizes 1 '"^"" ; '? at Sea or going to Sea, or may lend Money by way of Bottomry, as aforefaid, as fully and beneficially as^'" 110 ' &c " if. this Act had never been made, fo as the lame be not upon the Account or .Rifque of a Corporation or Body Politick, or upon the Account or Rifque of Perfons acting in a Society or Partnerfhip for that Pur- pofe, as aforefaid ; any Thing herein contained to the contrary notwithftanding. Vol. V. Rr XIIL