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Proceedings and Acts of the General Assembly, 1867
Volume 133, Page 5071   View pdf image (33K)
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THOMAS SWANN, ESQUIRE, GOVERNOR. 85*

CHAPTER 424.

AN ACT to incorporate the "Potomac Fire In-
surance Company of Baltimore."

SECTIOJ. 1 . Be it enacted by the General Assembly
of Maryland, That Samuel Townshend, Thomas
Whelan, Jr., John Ahern, Thomas Ellia, Samuel
Black, Benjamin F. Swayne, Samuel H. Gover,
James Whiteford, Michael Roche, Isaac W. Jew-
ett, Benjamin G. Tubman, William Turner, Ed-
ward Feinour, John B. N. Berry, Charles Golds-
borough, John Jewett, Jr., William McCann,
Joseph W. Duncan, James A. Doyle and 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 of "The
Potomac Fire Insurance Company of Baltimore"
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 answered, de-
fend and be defended in all Courts of law and
Equity or elsewhere, to make and use a common
seal, and the same to alter and renew at pleasure,
and generally to do and perform all things rela-
tive to the objects of its institution, which now is
or may be lawful ibr any individual or body-po-
litic or corporate to do.

Sec. 2. And be it enacted, That the capital stock
of said Company consist of two hundred thousand
dollars, divided into shares of five dollars each,
with liberty to increase the same at any time here-
after to a sum not exceeding four hundred thou-
sand dollars, the first subscription of forty thou-
sand shares to be paid, as follows, viz : one dollar
per share at the time of subscribing, one dollar
per share on the first Monday in May, eighteen
hundred and sixty seven, and the balance of the
first forty thousand shares to be paid in like in-
stalments, aa the Directors may determine. Sixty
days notice of each instalment to be given or the
said balance may bo paid either in part or the
whole from the net revenue of the Company; pro-
vided the said revenue shall in the discretion of
the Directors be amply sufficient to meet the Ha-

Fasaed Mar.
20, 1867.

Incorpora-
tion.

Capital stock,
Provisos,

 

 

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Proceedings and Acts of the General Assembly, 1867
Volume 133, Page 5071   View pdf image (33K)
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