THOMAS SWANN, ESQUIRE, GOVERNOR. 147
CHAPTER 107. |
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AN ACT to incorporate the Real Estate Fire In-
surance Company of Baltimore. |
Passed Feb.
28, 1867. |
SECTION 1. Be it enacted by the General Assembly
of Maryland, That James F. Purvis, Philip M,
Snowden, William G. Maxwell, Marriott Boswell
Samuel Snowden, John T. Ford of Baltimore city,
S. Hamilton Caughy and Joseph B. Brinkley, the
subscribers to the Stock of the Company, and their
successors be, and they are hereby declared to be a
body politic and corporate by the name and style
of the Real Estate Fire Insurance Company of
Baltimore; and by that name shall have succession,
and be capable in law to sue and be sued, plead
and be impleaded, answer and be answered, de-
fend and be defended in all Courts of law or equity
or elsewhere, to make and use a common seal, and
the same to alter or renew at pleasure, and gene-
rally to do and perform all things relative to the
object of this Corporation which now is, or shall
be lawful for any individual or body politic or
corporate to do. |
Incorporated
—power and
privileges |
Sec. 2. And be it enacted, That the capital
stock of this Company shall consist of a sum not
exceeding five hundred thousand dollars, divided
into fifty thousand shares of the value of ten dol-
lars each, two dollars on each share to be paid at
the time of subscribing, and three dollars on each
share within sixty days thereafter, the remaining
five dollars per share to be paid in as the President
and Directors may require by giving ten days pub-
lic notice of the same, and should any Stockholder
fail to pay an instalment when required by the
President and Directors, ho shall forfeit the
amount already paid, and be held liable for his
proportion of any loss which may have occurred
previous to such failure. |
Capital stock
limited. |
Sec. 3. And be it enacted, That the Commission-
ers heretofore named, or any five of them, shall
open books of subscription to the capital stock of
the Company hereby incorporated, and as soon as
three thousand shares shall have been subscribed,
and all instalments due thereon paid, they shall by |
Books to be
opened. |
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