894

LAWS OF MARYLAND.

represent certain prescribed accumulations or percentage of

assessments retained for the benefit of the members or their

beneficiaries and no part thereof shall be used for expenses,

nor for any purpose except the payment of benefits. This fund

shall be under the control of the directors or a board of trus-

tees, as the constitution or laws may provide, and as soon as

To invest in

practicable after it has been set aside, it shall, from time to

Government
andState

time, be invested in Government, State or municipal bonds of

bonds.

undoubted value and safety, and the interest therefrom to be

applied as may be provided by the laws of this corporation.

SEC. 6. And be it enacted, That payments of death benefits

To whom deal

by this corporation shall only be made to the widow, children,

benefits shall
be paid.

grandchildren, mother, father, brother, sister, grandparent,

aunt, uncle, niece, nephew, first cousin, next of kin who would

be distributees of the member's personal estate, if he dies intestate,

to an affianced wife of the member, or to persons dependent upon

the member for food, lodging, clothing or education ; provided,

that a certificate may be made payable to a bank, trust company

or other corporations authorized to accept and execute

trusts, as trustees, duly appointed in writing by the members;

and the benefits in the event of the death of the member may

be paid to said trustee to be paid and applied as directed in

said instrument of writing, duly executed and acknowledged

before an officer qualified to take the acknowledgment of deeds ;

provided, said benefits shall not be made applicable for any

purpose contrary to the constitutional laws of this corpora-

Not obligatory

tion. But nothing herein shall be construed as making it ob-

ligatory upon this corporation to see that the said benefits are

applied by the said trustees in accordance with the directions

of the member.

SEC. 7. And be it enacted, That at the time of the organiza-

Location of

tion of this corporation, the incorporators under the original

home office.

charter may designate the location of the home office, pro-

vided the same shall be confined to the State of Maryland and

to the place of residence of one or more of the said incorpor-

ators. If no such designation is made the home office shall be

at Cambridge, Maryland.

SEC. 8. And be it enacted, That all of the officers of this

Officers to give

corporation whose duty it is to handle any of the funds, shall,

bond.

before entering upon the discharge of said duties, give bond

for the faithful performance of said duties in some solvent,

reliable and reputable surety, fidelity or guarantee company

in such sum or sums as may be from time to time determined

by the laws of this corporation, the cost of said bonds to be

paid by the order as provided in its laws.