872

LAWS OF MARYLAND.

atives of her husband or any of his creditors, and
in case of the death of the wife before the decease
of the husband, the amount of the assurance may
be made payable after death to her children for
their use and to their guardian if under age.

Power to pay
premiums.

Sec. 12. And be it enacted, That it shall be com-
petent for the said Company in the formation of
its Constitution or by-laws to provide for the pay-
ment by the said Company to such of its members
as may in the first instance advance to said Com-
pany the amount of guarantee capital necessary to
enable the said Company to commence the business
of life insurance under this Act such bonus, inter-
est or premium as they may deem proper and right
not exceeding seven per cent., and to make the
same a first lien on the revenues or profits of the
business of said Company and after such liens as
may be thus made shall be discharged to secure
the application of all the net profits of the business
of said Company after the payment of salaries and
expenses to the benefit of the members of said Com-
pany.

In force.

Sec. 13. And be it enacted, That this Act shall
take effect from the date of its passage.

Approved April 4, 1870.

CHAPTER 469.

AN ACT to incorporate the Baltimore, Calverton
and Powhattan Railroad Company.

Corporators.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That Silas M. Hamilton, Jesse Lazier,
Galloway Cheston, Frank White, C. Bohn Slingluff,
B. A. Vickers, John S. Berry, Lewis Turner, Sr.,
John Hurst, James Howard McHenry and Wm.
P. Webb, be and are hereby appointed Commis-
sioners to open books and receive subscription to
the capital stock of the Baltimore, Calverton and
Powhattan Railroad Company, hereby incorpor-
ated, and they or a majority of them [of them]
shall at any time within one year after the passage