522 LAWS OF MARYLAND. [CH. 256

The blanks shall be duly filled in in print, and shall be a
sufficient notice.

A corporation which becomes a member of such company may
authorize any person to represent it in such company, and such
representative shall have all the rights of any individual mem-
ber.

Any person holding property in trust may insure the same
in such company, and as such trustee assume the liabilities and
be entitled to the rights of a member, but shall not be person-
ally liable upon such contract of insurance.

Members may vote by proxies dated and executed within
three months and returned and filed with the secretary of the
company twenty days or more before the meeting at which they
are to be used.

Such company shall have its home office in the city or town
specified in its charter, and if it establishes agencies in other
cities or towns, all signs, cards, pamphlets and advertisements
issued by them shall specify the city or town in which the com-
pany they represent is located.

Section 154P. Any such company may hold cash assets in
excess of its liabilities, but such excess shall be limited to two
per cent of its insurance) in force, shall be subject to the. pro-
visions of law relative to the investment of the capital stock of
insurance companies on the stock plan and may be used from
time to time in payment of losses, dividends and expenses.

Section 154Q. All policies issued by such company shall be
signed by its secretary, assistant secretary or, in their absence,
by a secretary pro tempore, and by its president or vice-presi-
dent, or in their absence, by two directors.

Section 154R. All investments and deposits of the funds of
the company shall be made in its corporate name and no direc-
tor or other officer thereof and no member of a committee hav-
ing any authority in the investment or disposition of its funds,
shall accept, or be the beneficiary of, either directly or remotely,
any fee, brokerage, commission, gift, or other consideration for
or on account of any loan, deposit, purchase, sale, payment or
exchange made by or in behalf of such company, or be pecuniar-
ily interested in any such purchase, sale or. loan, either as bor-
rower, principal, co-principal, agent or beneficiary, except that
if a policyholder, he shall be entitled to all the benefits ac-
cruing under the terms of his contract. No investment, sale
or loan, except loans on its own policies, shall be made which