74

LAWS OF MARYLAND.

Passed Feb,
7, 1866.

CHAPTER 45.

AN ACT to incorporate the United States Fire and
Marine Insurance Company of Baltimore.

Incorporated.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That E. K. Howley, James T.
Randolph, James G. Ramsey, Charles T. Morris,
John S, Gilman, John W. Randolph, John J.
Abrahams, Caleb B. Hynes, William H. Cathcart,
George A. Coleman and Thomas Booz, and the
subscribers to the stock of the company and their
successors, be and they hereby are declared to be a
body politic and corporate by the name of the
United States Fire and Marine Insurance Compa-
ny of Baltimore, and by that name shall have
perpetual succession, and be capable in law to sue
and be sued, plead and be impleaded, answer and
he answered, defend and be defended, in all courts
of law and equity or elsewhere, to make and use a
common seal, and the same to alter and renew at
pleasure, and generally to do and perform all
things relative to the objects of its institution,
which now is or may be lawful for any individual
or body politic or corporate to do.

Capital stock.

Sec. 2. And be it enacted, That the capital stock
of said company shall consist of two hundred and
fifty thousand dollars, divided into shares of fifty
dollars each, with liberty to increase the same at
any time hereafter to a sum not exceeding five
hundred thousand dollars, the first subscription

Shares — how
paid.

of five thousand shares, to be paid as follows, viz:
five dollars per share at the time of subscribing,
five dollars per share on the fifth day of March
eighteen hundred and sixty-six, five dollars per
share on the seventh day of May eighteen hundred
and sixty-six, five dollars per share on the second
day of July eighteen hundred and sixty-six, five
dollars per share on the third day of September
eighteen hundred and sixty-six, and the balance
of the first five thousand shares to be paid in like
instalments as the directors may determine, sixty
days notice for each instalment to be given, or
the said balance may be paid either in part or the

Provisoes.

whole from the net revenue of the company; pro-
vided, the said revenue, shall in the discretion of
the directors be amply sufficient to meet the lia-
bilities of the company, otherwise the instalments