whole Board of Directors present at a meeting at
which the motion for such remission shall be made,
upon the payment by the person incurring a for-
feiture, of the principal of said instalment and
interest thereon, up to the time of such payment, as
also his proportion of such loss as may have occurred
previous to such forfeiture.
SEC. 4. And be if enacted, That as soon as five
thousand shares are subscribed for and paid, or
secured to be paid, this company shall be competent
to transact all kinds of business for which it is
established.
SEC. 5). And he It enacted. That after the subscrip-
tion of five thousand shares, as provided for in the
aforegoing fourth section, the said Wesley A. Tucker,
Robert R. Kirkland, John C. Bridges, George F.
Webb, David Carroll, Edward R. Lusby, E. Cover
Cox, James O. Spear, John A. Baker, are hereby
created Directors in the said Carrollton Fire Insur-
ance Company, of Baltimore, until the first Monday
in April, eighteen hundred and seventy-three, and
until their successors shall be elected, as hereinafter
provided for, and such of them as shall be present
at their first meeting, shall proceed to organize the
company, by electing a President, a Vice-President,
and a Secretary thereof.
SEC. 6. And he it enacted, That the stockholders
composing this company, or their representatives by
proxy, shall, on the first Monday in April, eighteen
hundred and seventy-three, and on the same day of
each and every year thereafter, choose by ballot from
among the stockholders, twelve directors to serve
for one year, each stockholder to be entitled to*
vote for every five shares of stock not exceeding
fifty .shares, one vote for every ten shares exceeding'
fifty, be but no person or body politic shall have more
than twenty votes; the directors, so chosen, shall
serve until tire first Monday in April next succeed-
ing their election, and until others are chosen. At
their first meeting after every annual election, they
shall choose by ballot a President and a Vice Presi-
dent, either from amongst their own body or from
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Competent
to transact
business.
Directors.
To organize
the company.
Elect tvvelve
Directors
Elect Presi-
dent and Vice
President.
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