334
LAWS OF MARYLAND.
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insured, according to the greater or less hazard of
insurance,
the note to be executed to the Mutual Insurance
company of Somerset county, and to bear interest
from date, the interest thereof to be paid annually in
advance, at the rate of six per centum per annum.
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Judgment to
be entered.
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SEC. 6. And be it enacted,
That the clerk of the
county wherein the property insured may be situated,
shall be furnished with a docket by the Mutual Insurance
company, in which docket shall be entered a
judgment by the person or persons, or body corporate,
to the Mutual Insurance company of Somerset county,
for the amount of his, her or their premium note, without
a declaration being filed, appearance for the plaintiff
being entered, or writ issued against the party insuring,
which said party insuring shall either appear in
person, or shall direct the clerk, by an instrument
in writing, signed by said party and attested by one
witness, to enter up judgment for the amount of his
premium note, which judgment shall be a lien upon
his, her or their real estate, and for said service, the
clerk shall receive the sum of ten cents, to be paid by
the insured, and no policy shall be issued until such
judgment be entered up.
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Failure to pay.
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SEC. 7. And be it enacted,
That in case the party
insured shall fail to pay his, her or their interest in advance,
sixty days after the same shall be due, or shall
fail to pay any assessment which may be made upon
his premium note as hereinafter provided; it shall be
lawful for the said company to issue an execution
against the real estate bound by such judgment for
the amount, which amount shall be endorsed by the
clerk, under the order of the president or secretary, upon
the back of said execution, and the party insured until
such interest or assessment be paid, shall forfeit all
benefit under his, her or their policy.
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Issuing of
policies.
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SEC. 8. And be it enacted,
That no policy upon
houses, manufactories, mills, stores, shops, barns and
other buildings shall be issued for a term less than
seven years, nor to a greater amount than two-thirds of
the value thereof, and no policy shall be issued upon
merchandise, household furniture or other personal
property for a term less than one year, nor to a greater
amount than two-thirds of the value thereof, and in
cases of insurances of personal property, where the
party insured has no real estate, the directors may take
a note for the amount of the premium required, secured
in such manner as they may most deem expedient
and safe.
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