JOHN WALTER SMITH, ESQ., GOVERNOR.

895

may be established, and that all persons who wish to become
members of the said company may be required to express in
writing at the foot thereof their assent thereto, and all persons
by signing an application for insurance therein shall be deemed
to have subscribed their assent to this Act and the by-laws of
said company; which expression and assent, and the payment
of such fees, charges or premiums as may be demanded by the
proper officers of the corporation, shall constitute such persons
members of said company, as contained in this Act and in the
by-laws of said company, whether enacted before or after the
commencement of such membership; and every person who
shall be insured by said company shall become members
thereof, as already provided.

Applicants for
insurance.

SEC. 3. And be it further enacted, That all persons who shall
be insured by this company shall become members thereof,
and shall be bound by all the rules and regulations of the
company.

Persons
insured by said
company shall
become mem-
bers thereof.

SEC. 4. And be it further enacted, That the board of direct-
ors shall make such by-laws, not inconsistent with the charter
or the laws of the State of Maryland, as they may deem neces-
sary to conduct the affairs of the company, and shall have
power to alter and amend the same, and the said by-laws and
every amendment thereof shall be binding upon all members
of said company. In case of any vacancy occurring in the
board of directors, the same shall be filled by election of the
remainder of the board to serve for the unexpired term.

Directors shall
make by-laws,
etc.

SEC. 5. And be it further enacted, That Benjamin F. Simons,
C. Harvey Pardee, Frederick Graefe, Judson H. Sencindiver
and Richard A. Farley are hereby created directors of the said
Southern Mutual Life Insurance Company of Baltimore City,
and shall manage its affairs until the last Tuesday in Feb-
ruary after said company shall have commenced business
and until their successors shall have been elected and quali-
fied, as hereinafter provided; and such of said directors as
shall be present at their first meeting shall proceed to organize
the company by electing a president, vice-president or vice-
presidents, secretary, treasurer and other officers, committees
and agents deemed advisable and fix their compensation, if
any, and the duties of each and all matters concerning the
regulations of said company may be provided for in the by-
laws to be adopted as soon thereafter as practicable.

Directors
named until
certain time.

Election of
president and
other officers.

SEC. 6. And be it further enacted, That the number of
the directors of the company shall be five, but the board of

Number of
directors.