ART. 26.] CORPORATIONS.

certificate of incorporation as among the other objects
and purposes for which said corporation is formed) the

59

following, that is to say: to guarantee the payment,
punctual performance, and collection of promissory
notes, bills of exchange, contracts, bonds, accounts,
claims, rents, annuities, mortgages, choses in adion,
evidences of debt, and certificates of property or value,
and the titles to property, real or personal, on such
terms as may be established by the board of directors
of said company; to receive on storage, deposit or
otherwise, merchandise, bullion, specie, plate, stock,
bonds, promissory notes, certificates and evidences of
debt, contracts or other property, and to take the man-
agement, custody and charge of real or personal estate
or property, and to advance money, securities and cre-
dits upon any property, real, personal, or mixed, on
such terms and with all such powers of sale and other
disposition thereof as shall be established by the char-

What to con-
tain

ter or by-laws of such corporation; provided, that the
corporate title of any company having among its other
purposes those enumerated in this section, shall desig-

Proviso.

nate the same as a security, as well as an insurance
company. ,

Security com-
panies.

98. Corporations formed under the provisions of
this article, for insurance purposes, may be formed
either as mutual or stock companies, or as mutual and
stock companies combined, as shall be determined and
declared in the certificate of incorporation of said com-
pany.

Mutual or
stock

99. Every corporation formed under the provisions
of this article for the purposes of life insurance, is
hereby authorized also to insure individuals against

Life insurance
or accident.

accident, and to grant, purchase or dispose of annu-
ities, unless it be otherwise provided in its charter or
by-laws.

Annuities.

100. Every life insurance company incorporated

. Life insurance

under this article, shall have a guarantee capital of not
less than one hundred thousand dollars, which shall be
invested .either in securities of the United States, of the
state of Maryland or of the city of Baltimore, and the

Guarantee capi-
tal.