THOMAS SWANN, ESQUIRE, GOVERNOR. 807

their application, their assent thereto ; which ex- pression of assent, and the payment of such fees, charges, or premium, as may be demanded by the proper officers of the Corporation, shall constitute such persons members of the said Company ; and every person having stock insured in this Com- pany shall become a member thereof as already provided for.
Sec. 3. And be it enacted, That any member of the said Company shall have full power to with- draw therefrom, at any time, by making applica- tion in such form, and complying with such con- ditions, as may be provided for by the constitution and by-laws regularly adopted by the Company.	May with- draw.
Sec. 4. And be it enacted, That all promissory notes or other evidences of debt held by this Com- pany, which may have been given in accordance with the Constitution and by-laws for premium for insurance, or for any part or parts of said premium, shall constitute and be deemed a bill of sale or lien upon the stock insured, or in part insured, in consideration of such notes or evidence of debt, which said stock shall be held liable for the full and just payment of such notes or evidence of debt, either wholly or in part, at such times as the President and Direc- tors shall demand, and all legal charges that may be incurred in the enforcement of the payment thereof ; and, in case of refusal or neglect to pay such debt and charges, any sale or mortgage or transfer of such stock subsequent to the date of such notes or evidences of debt, and during the	Bill of sale or lien.
time they are in existence, shall not invalidate or prejudice the said lien or bill of sale created there- on by the making and delivering of such notes or evidences of debt, and such stock shall only be re- leased from such liability upon the payment, in full, of said notes or evidences of debt, or such parts thereof, as may be demanded by the Presi- dent and Directors ; 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 said President and Directors, they may pro- ceed to collect the same, or any part thereof, by a legal process of law, as other bills of sale or evi- dences of debt of like character are collected ; pro-	Not invali- date.