.66
Name
changed.
Repealed.
Capital stock
Full paid
stock.
Resume busi-
ness.
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LAWS OF MARYLAND.
CHAPTER 49.
AN ACT amendatory of an Act passed January
session, eighteen hundred and sixty-four, chapter
three hundred and eighty-one, entitled "An Act
to incorporate the Merchants and Mechanics Fire
Insurance Company of Baltimore."
SECTION 1. -Be it enacted by the General Assembly of
Maryland, That the name of the Merchants and
Mechanics Fire Insurance Company of Baltimore,
incorporated under chapter three hundred and eighty
one, of the Act of January session, eighteen hundred
and sixty-four, be and the same is hereby changed to
the Phoenix Fire Insurance Company of Baltimore.
SEC. 2. And he it enacted, That sections two, three,
and four of the aforesaid Act, to incorporate the Mer-
chants and Mechanics Fire Insurance Company of
Baltimore, passed at January session, eighteen hun-
dred and sixty-four, chapter three hundred and
eighty-one, be and the same are hereby repealed, and
in lieu thereof the following sections to be inserted:
SEC. 3. And be it enacted, That the capital stock of
this Company shall consist of a sum not exceeding
three hundred thousand dollars, divided into sixty
thousand shares of five dollars each, payable in cash
at the time of subscription, except in case of present
stockholders, who shall be entitled to a credit of two
dollars per share, upon each of the twenty-five thous-
and shares now held by said stockholders, and upon
payment of three dollars per share, by such stock-
holders, they shall be respectively entitled to full paid
shares of stock in this Company, but in case of re-
fusal to pay said three dollars per share, by said stock-
holders, or any of them, at a time and upon such
notice as the Board of Directors may deem proper,
then the said stockholders shall receive certificates
of full paid stock for such amounts at two dollars per
share, as such stockholders may own in said Com-
pany.
SEC. 4. And he it enacted. That as soon as twenty
thousand shares are paid for, in the manner set forth
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