122
|
LAWS OF MARYLAND.
|
 
|
tion shall be made under the provisions of this act;
|
 
|
and one-third of the cash advanced as premium shall,
|
 
|
likewise, under the provisions of this act, be returned
|
 
|
to the person or incorporation, their executors, ad-
|
 
|
ministrators or assigns, who or which may have paid
|
 
|
cash as premium in advance — and provided that
|
 
|
any person or incorporation hereafter insuring under
|
When not
|
a mutual policy shall not be entitled to a reduction
|
entitled.
|
of their premium note as hereinbefore provided for
|
 
|
those now holding mutual policies, but their said
|
 
|
premium note, or cash advanced in lieu of premium
|
 
|
note, shall always remain the same as originally
|
 
|
given, except that the same may be reduced by as-
|
 
|
sessment thereon.
|
 
|
SEC. 5. And be it enacted, That section one of
|
 
|
the acts passed at December session, eighteen hun-
|
 
|
dred and forty-nine, chapter fivehundred, entitled "A
|
 
|
Supplement to the act entitled 'An Act to incorporate
|
 
|
the Mutual Insurance Company of Washington
|
Repealed.
|
county,'" and the seventh section of the acts passed at
|
 
|
January session, eighteen hundred and fifty-three,
|
 
|
chapter three hundred and seventy-nine, en titled "An
|
 
|
Act to amend an act entitled ' An Act to incorporate
|
 
|
the Mutual Insurance Company of Washington
|
 
|
county,' " passed at December session, eighteen hun-
|
 
|
dred and forty-five, chapter thirty-seven, be and the
|
 
|
same are hereby repealed.
|
 
|
SEC. 6. And be it enacted, That this act shall
|
Submitted to
|
be submitted to the members of said company for
|
members.
|
adoption or rejection during the year eighteen hun-
|
 
|
dred and eighty-two, on a day to be designated by
|
 
|
the Board of Directors, after three weeks' public
|
 
|
notice thereof shall have been given in two newspa-
|
 
|
pers published in Washington county, Maryland,
|
 
|
and if adopted by a majority of votes cast according
|
 
|
to the ratio of voting prescribed in the by-laws of
|
 
|
said company, it shall take effect and become a law
|
 
|
from and after said day.
|
 
|
Approved March 21, 1882.
|