style of the President and Directors of the Em-
pire Mutual Insurance Company of Baltimore,
Maryland, and by that name shall have perpetual
succession, and be capable in law to sue and be
sued, plead and be impleaded, answer and be an-
swered, defend and be defended in all Courts of
law and equity or elsewhere, to make and use a
common seal) and the same to alter or renew at
pleasure and to do and perform all timings relative
to the objects of this corporation; which now or may
be lawful for any individual or body corporate to
do.

Capital stock

Sec. 2. And be it enacted, That the capital
stock of this Company shall be one hundred thous-
and dollars and to be divided into shares of ten
dollars each, which may be increased to five hund-
red thousand dollars at any time when a majority
of the stockholders shall deem it advisable at a
meeting held for that purpose, and it shall be the
duty of said President and Directors to give at
least ten days notice in not less than two of the
Daily newspapers in the city of Baltimore, of each
meeting, stating the object of the meeting.

Instalments
—how paid.

Sec. 3. And be it enacted. That there shall be
paid by each subscriber an instalment of two dol-
lars on each and every share subscribed for at the
time subscribed, and one dollar in sixty days after
the Company shall have gone into operation, and
one dollar in ninety days thereafter, and one dol-
lar in four months thereafter, and the balance at
such periods as the President and Directors may
from time to time determine; any stockholder re-
fusing or neglecting to pay an instalment when
required by the provisions of this section or by this
charter, shall forfeit all his interest in this Com-
pany, and be held liable for his proportion of any
loss which may have occurred previous to such ne-
glect or refusal, but should any forfeiture occur it
may be remitted within thirty days thereafter by
a majority of the board of Directors present at a
meeting at which the motion for such remission
shall be made, upon the payment by the person
incurring the forfeiture of the principal of each
instalment and the interest thereon, also his pro-
portion of all losses that may have occurred pre-
vious to such forfeiture.