183

LAWS OF MARYLAND.

Hamman, Francis Meyd, John W. Gerkin, Chris-
toph Kreuzer, John Smith, Andrew Hofmann,
Charles Westrich and whosoever may he now or
hereafter associated with them and their succes-
sors, shall be and are hereby made a body politic
and corporate by the name and style of "The
United German Real Estate and Fire Insurance

Powers.

Company of Baltimore," and as such shall be
capable in law, to insure real and personal pro-
perty and effects against loss or damage by fire,
under such conditions as may be by said body cor-
porate adopted, and shall be embodied in the con-
tract or policy of insurance; also to purchase,
improve, lease, mortgage, hold and dispose of
property, real, personal or mixed, to borrow or
loan money on mortgage, to make advances upon
buildings and lands, to loan on collateral securi-
ties, and to do all other acts that may be promo-
tive of the interests of the said body corporate, in

Not to conflict
with law.

so far as the same shall not be in conflict with the
laws of the United States or of the State of Mary-
land, and the said body corporate shall have power
to make and use a common seal, the same to change,
alter and renew at pleasure, to sue and be sued, to
plead and be impleaded, to answer and he an-
swered, in any Court of law or equity or elsewhere,
to make all deeds, transfers, contracts, convey-
ances and grants whatsoever and generally to pos-
sess and exercise all and singular the powers inci-
dent to bodies politic and corporate.

Elect officers.

Sec. 2. And be it enacted, That the shareholders
comprising this Company in person or by proxy,
shall on the first Monday in May after the passage
of this Act, and in each and every year thereafter
choose by ballot from among said shareholders,
thirteen Directors to manage the affairs of said
Company for one year thereafter, or until an elec-
tion shall take place and their successors shall be
duly qualified; if no election take place on the
days named, then the same may take place at any
time thereafter; the Directors shall qualify at the
next weekly meeting of the Company succeeding
their election, and a majority of them are empow-
ered to transact the business of the corporation.

President.

Sec, 3. And be it enacted, That the Directors or
a majority shall have power to elect from their
own body a President and Vice President, to fill