572

LAWS OF MARYLAND.

Forfeiture.

Sec. 15. And be it enacted, That any person in-
suring in the Company, who shall omit any premi-
um or any periodical payment due from him to the
Company, shall forfeit all claims under his policy,
and all previous payments made by him, un-
less there be expressed in his policy a non-forfei-
ture of the same.

Purchase
policies.

Sec. 16. And be it enacted, That the Board of Di-
rectors may, for the benefit of the Company, pur-
chase all policies of insurance and other obligations
issued by the Company, and may also extinguish
by purchase, all claims and demands of the policy
holders.

Insure fol
sole use.

Sec. 17. And be it enacted, That it shall be law-
ful for any named woman, by herself or in her
name of any third person with his consent, as her
trustee, to be caused to be insured in said Compa-
ny for her sole use, the life of her husband for any
definite period, or for the term of his natural life,
and in case of her surviving her husband the sum
or net amount of the insurance becoming due and
payable by the terms of the insurance shall be
payable to her, to and for her own use, free from
the claims of the representations of her husband,
or of any of his creditors. In case of the death of
the wife before the decease of her husband, the
amount of the insurance may be made payable,
after the death of the husband, to her children, or
if under age, to their guardian, for their use ; in
the event of their being no children, she may have
power to devise, and if dying intestate, then to go
to the next of kin.

In force.

Sec. 18. And be it enacted, That this Act shall
take effect from the date of its passage.

Approved March 30, 1868.