476
LAWS OF MARYLAND.
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insured by this company, shall become members thereof
as already provided for.
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Power to
withdraw.
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SEC. 3. And be it enacted,
That any member of
the said company shall have full power to withdraw
therefrom at any time, by applying to the proper officer
thereof, and paying such fees as may be reasonably demanded,
and any arrearages of assessments that he may
then owe to the company when the said proper officer
shall cancel such insurance or insurances as may be in
the name of the person so withdrawing, and make a
record thereof in the books of the company, which shall
release such member, and any real estate that he may
have insured from all liability for or on account of any
notes, due bills, or other evidences of debt to the said
company, held by it for premiums on such real estate,
the insurance on which shall thus be cancelled, and
shall debar him or her from any claim on this corporation
for any loss or damage by fire, subsequent to the
time of such withdrawal, and cancelling such insurance.
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Promissory
notes.
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SEC. 4. And be it enacted,
That all promissory
note of hand or other evidences of debt held by the
said company which shall have been given thereto for
premiums for insurance or for any part or parts of said
premiums, shall constitute and be deemed a lien on
any real estate which may be insured in consideration
or part consideration of such notes or evidences of debt,
which real estate shall be held liable for the full and
just payment of such notes or evidences of debt, either
wholly or in part, at such time or times as the president
and directors shall demand, and of all legal charges that
may be incurred in enforcing payment thereof, in case
of refusal or neglect to pay by the drawers of such
notes or evidences of debts, any sale, mortgage, or transfer
of such real estate subsequent to the date of such
notes or evidences of debt, and during the time they
are in existence shall not invalidate or prejudice the
lien created thereon, by the making and delivery of
such notes or evidences of debt, and such real estate
shall only be released from such liability or lien
thereon on the full payment of such notes or evidences
of debt, or such part thereof as may be demanded by
the president and directors of the company, and the
cancelling of the insurance or insurances for which
they were given as premiums, under such regulations
as the said president and directors may establish, and in
case of refusal or neglect to pay such notes or evidences
of debt, either wholly or in part, whenever and as
often as may demanded by the president and directors
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