Law Life Assurance Society's Act 1887
| Jurisdiction | UK Non-devolved |
| Citation | 1887 c. xxxiii |
| Year | 1887 |
£50 VICT., SESS. 2.] Law Life Assurance Society's [Oh. XXXiii.]
Act, 1887.
CHAPTER xxxiii.
An Act to make further provision as to the Investment of
A.D.
1887.
the Moneys of and to confer further powers upon the Law
Life Assurance Society and for other purposes.
[23rd May 1887.]
\~\ THERE AS divers persons engaged in the profession of the law
* v formed themselves into a Society or partnership under the
name of the " Law Life Assurance Society " (in this Act called
'" the Society ") for the purpose of granting assurances upon lives
and survivorships and the joint continuance of several lives and
for terms of years absolutely and contingently determinable on
lives by a deed of settlement or co-partnership dated the twenty-
second day of March one thousand eight hundred and twenty-four
{in this Act called " the settlement ") with a capital of one million
-pounds in ten thousand shares of one hundred pounds each
whereof ten pounds a share was to be (and accordingly was) called
and paid up and by clauses XII. and XIII. of the settlement
provision was made for the formation of two separate funds the
one to be called " the proprietors guarantee fund" and to be
formed out of the calls paid or to be paid in respect of the said
ten pounds on each share and the remaining ninety pounds on
each share when and as called for and the sums to be appropriated
•as therein mentioned to the proprietors for the time being on any
division or appropriation of the surplus funds of the Society and
the interest dividends and accumulations of the same and the
other to be called "the assurance fund" and to be formed out of
the premiums fines and other sums to be paid for or in respect of
or for the renewal of assurances and all other money to be received
by the Society (except the money to constitute the proprietors
guarantee fund and the money to be expended in outfit and
management) and the interest dividends and accumulations thereof
respectively and (clause XV.) for the investment of parts of the
proprietors guarantee fund and the assurance fund respectively
[Price 9d.] A 1
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