THOMAS SWANN, ESQUIRE, GOVERNOR
THOMAS SWANN, ESQUIRE, GOVERNOR. 497
bers as their respective shares of such loss or dam-
age, and publish the same in such manner as may
be presented by the by-laws and members, shall
pay the same to the Treasurer of the company,
within thirty days. after the publication of said
notice on neglect or refusal to pay the sum assessed
upon him as a portion of any loss as aforesaid, in
such case said company may sue for and recover
the whole amount of his or her deposit note or
notes with costs of suit, and the amount thus col-
lected, shall remain in the treasury of the compa-
ny, subject to the payment of such losses or ex-
penses as have accrued or may thereafter accrue
and the balance if any remain, shall be returned
to the party from whom it was collected on de-
mand. |
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Sec. 11. And be it enacted, That the office of
said company shall be in Hagerstown, and the an-
nual and all other meetings of the company and the
Board of Directors for transacting the business of
the company, shall be held at their office in the
aforesaid place, and at the annual meeting of the
company the members shall pass all by-laws, rules
and regulations necessary for the well government
of the affairs of said corporation, it shall be the
duty of the Secretary and Treasurer at such an-
nnal meeting, to have all the books and writings
concerning the company at such place of meeting,
and any member of the company shall be allowed
to examine the same. |
Office to be
in Hagerstown. |
Sec. 12. And be it enacted, That no policy shall
be issued by this corporation until the property in-
sured shall amount to one hundred thousand dol-
lars. |
Policies-
when to be is-
sued. |
Sec. 13. And be it enacted. That this Act shall
take effect immediately after its passage, and that
the General Assembly may at any time modify or
annul this Act of incorporation. |
Inforce. |
Sec. 14. And be it enacted, That nothing in this
Act shall be so construed as to authorize the said
company to issue any note, scrip, token, device or
other evidence of debt to be used as a currency. |
No banking
privileges. |
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