George W. Navy, together with the subscribers
to the stock of the association shall be and they
are hereby declared to be a body politic and corpor-
ate by the name and style of the Marion Fire Insur-
ance 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 an-
swered, defend 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 their pleas-
ure, and generally to perform all things relative
to the object of this institution which now is or
shall be lawful for any individual or body politic
or corporate to do.

Capital stock.

Sec. 2. And be it enacted, That the capital stock
of this company shall consist of a sum not exceed-
ing five hundred thousand dollars divided into
one hundred thousand shares of five" dollars each,
to be paid at the time of subscribing.

When to go
in operation.

Sec. 3. And be it enacted. That as soon as three
thousand shares are subscribed for and paid, or se-
cured to be paid in, this Company shall be compe-
tent to transact all kinds of business for which it
is established.

When sub-
scription books
shall be open-
ed.

Sec. 4. And be it enacted, That the Commis-
sioners heretofore named or any three of them,
shall open books of subscription for the capital
stock of this Company hereby incorporated on or
before the first day of April next, in some suita-
ble place in the city of Baltimore, and shall de-
liver the said money paid on the subscriptions to the
board of Directors, so soon as they shall be ap-

Provisos.

pointed and prepared to receive the same; provid-
ed, that the neglect or omission to open books on
that day shall not invalidate this charter, and provided,
also, that books be open to receive such sub-
scriptions at any time on or before the expiration
of ten years after the date of this Act of incorpor-
ation, and to continue from time to time in the
discretion of the board of Directors, or a majority
of them, until the whole amount of the capital
stock of this Company shall be subscribed for.

Officers-
when elected.

Sec. 5. And be it enacted, That the affairs of
this Company shall be managed by a President
and board of Directors composed of stockholders