Admission

in corporations or companies, is the act of the corporation or company by which an individual acquires the rights of a member of such corporation or company. In trading and joint stock corporations no vote of admission is requisite; for any person who owns stock therein, either by original subscription or by conveyance, is in general entitled to and cannot be refused, the rights and privileges of a member.

3 Mass. R. 364; Doug. 524; 1 Man. & Ry. 529.

All that can be required of the person demanding a transfer on the books, is to prove to the corporation his right to the property.

See 8 Pick. 90.’

In a mutual insurance company, it has been held, that a person may become a member by insuring his property, paying the premium and deposit-money, and rendering himself liable to be assessed according to the rules of the corporation.

2 Mass. R. 315.