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Session Laws, 1878
Volume 399, Page 777   View pdf image (33K)
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JOHN LEE CARROLL. ESQUIRE, GOVERNOR. 777

shall have the cash surrender value endorsed

 

thereon.

 

SEC. 16. And be it enacted, That the said com-

 

pany may purchase for its own benefit any policy

May pur-
chase policies.

of insurance or other obligation of the said com-

 

pany growing out of its business, and also any

 

claims arising out of dividends or profits ; but no

 

officer, director or agent of the company shall be

 

directly or indirectly interested in such purchase.

 

SEC. 17. And be it enacted, That it shall be lawful

 

for any married woman, by herself and in her

Married

name, or in the name of a third person, with his

women may
insure.

assent as her trustee, to cause to be insured in

 

said company, for her sole use, the life of her hus-

 

band, for any definite period or for the term of

 

his natural life, and in case of her surviving her

 

husband the sum or net amount of the insurance

 

becoming due and payable by the terms of the in-

 

surance shall be payable to her and for her sole

 

use, free from the claims of the representative of

 

her said husband, or of any of his creditors. In

 

case of the decease of the wife before her hus-

 

band, the amount of insurance due at his death

 

shall pass to the children of said wife so insuring,

 

for their use.

 

SEC. 18. And be it enacted, That this act shall take

 

effect from and after its passage, but may be al-

In forces.

tered, amended or repealed by the Legislature of

 

Maryland at its pleasure.

 

Approved April — , 1878.

 


 

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Session Laws, 1878
Volume 399, Page 777   View pdf image (33K)
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