ADMISSION

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ADMISSION

ADMISSION, in corporations or companies. The act of the corporation or company by which an individual acquires the rights of a member of suchcorporation or company. 2. In trading and joint stock corporations no vote of admission isrequisite; for any person who owns stock therein, either by originalsubscription or by conveyance, is in general entitled to, and cannot berefused, the rights and privileges of a member. 3 Mass. R. 364; Doug. 524; 1Man. & Ry. 529. 3. All that can be required of the person demanding a transfer on thebooks, is to prove to the corporation his right to the property. See 8 Pick.90. 4. In a Mutual Insurance Company, it has been held, that a person maybecome a member by insuring his property, paying the premium and deposit-money, and rendering himself liable to be assessed according to the rules ofthe corporation. 2 Mass. R. 315.

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