780

LAWS OF MARYLAND.

Endorsed.

said Company to issue execution against the real
estate hound by said judgment for the amount of
said assessment, which amount shall be endorsed
by the clerk, under order of the President or Sec-
retary of said Company upon the back of said ex-
ecution, and the party insured, until such assess-
ment be paid, shall forfeit all benefit under his,
her or their policy.

Loss or dam-
age by fire.

Sec. 5. And be it enacted, That the ninth Sec-
tion of said Act of eighteen hundred and forty-
five, Chapter thirty-seven, be and the same is
hereby repealed and re-enacted so as to read as
follows: In case any loss or damage by fire to
property insured in said Company shall be sus-
tained, the party sustaining such loss or damage
shall, within thirty days thereafter, apprise the
Company thereof, and the Directors of said Com-
pany shall, immediately upon the notification
thereof, ascertain the amount of such loss, and pay
the same out of the net income of said Company
for the current fiscal year; and in case the net in-
come for said current fiscal year he insufficient to
discharge the debts accruing from such loss or
damage, they shall apply the whole of the accu-
mulated fund of said Company, or so much thereof
as may be necessary, to the payment of such debts
accruing as aforesaid; and if the net income for
the current year, together with the whole of said
accumulated fund, be insufficient to discharge said

How settled.

debts accruing as aforesaid, the Board of Direc-
tors shall apportion the balance of said debts rata-
bly amongst the members of said Company, by
assessment upon their premium notes or cash ad-
vanced in lieu of premium, until the whole of said
debts be paid.

Sec. 6. And be it enacted, That the fifth Section
of the Act passed at January Session, eighteen
hundred and fifty-three, Chapter three hundred
and seventy-nine, entitled "An Act to amend An
Act to incorporate the Mutual Insurance Company
of Washington County," passed at December
Session, eighteen hundred and forty-five, Chapter
thirty-seven, be and the same is hereby amended
so as to read as follows: That the policies in ex-
istence at the time of the adoption of this Act by
the said Mutual Insurance Company of Washing-