Bill of Sale on said stock which may be insured in
consideration or part consideration of such notes or
evidence of debt which stock shall be held liable
for the full and just payment of such notes or evi-
dences of debt either wholly or in part at such
time or times as the President and Directors shall
demand, and of all legal charges that may be in-
curred in enforcing the payment thereof, in case of
refusal or neglect to pay, any sale, mortgage or
transfer of such stock subsequent to the date of
such notes or evidences of debt, and during the
time they are in existence shall not invalidate or
prejudice the lien or Bill of Sale created thereon
by the making and delivery of such notes or evi-
dences of debt, and such stock shall only be re-
leased from such liability or Bill of Sale thereon,
on the full payment of such notes or evidences of
debt or such part thereof as may be demanded by
the President and Directors, and the cause of the
insurance for which they were given as premiums
under such regulations as the said President and Di-
rectors may establish, and in case of any refusal
or neglect to pay such notes or evidences of debt
whenever and as often as may be demanded by the
President of this Company, the said President may
proceed to collect the same or any part thereof by a
legal process of law as other Bills of Sale or evi-

Proviso.

dences of debt are collected; provided, that noth-
ing in this section shall be construed to prevent
persons having stock insured in said Company
from disposing of the same, in which case all mo-
neys due and owing may be collected bylegal pro-
cess from other personal property owned by the
party.

Board of Di-
rectors.

Sec. 5. And be it enacted, That James L. Davis,
David T. Jones, Charles S. Simmons, David
Thomas, John A. H. Cunningham, Daniel Baker,
Grafton Duvall, John A. Trundle, William H.
Suman, Arthur Delashmutt, Richard Simmons,
Nicholas Cromwell, and William G. Baker, be
and they are hereby created Directors of the said
"Mutual Horse Thief Detecting and Live Stock
Insurance Company" of Frederick county until
the first regular meeting of the Directors in Jan-
uary, eighteen hundred and sisty-eight, and until
their successors shall be duly elected, as hereinafter