606

LAWS OF MARYLAND.

forty-eight, entitled An act to add additional sections

to the act of eighteen hundred and sixty-five, chapter

thirty-six, entitled An act to incorporate the German

Fire Insurance Company of Baltimore, and also to

repeal sections two, three and six of the said act of

eighteen hundred and sixty-five, chapter thirty-six,

entitled An act to incorporate the German Fire In-

surance Company of Baltimore, and to re-enact said

three sections with amendments, be and the same are

hereby continued in full force until the year nineteen

hundred and five, and until the end of the next session

of the general assembly which shall take place there-

after, to the same effect as if it had been provided in

the act aforesaid, of eighteen hundred and sixty-five,

incorporating the German Fire Insurance Company of

Baltimore, and the supplement aforesaid thereto, that

said acts should continue and be in force until the

year nineteen hundred and five, and until the end of

the next session of the general assembly which should

take place thereafter.

SEC. 2. And be it enacted, That the president and

directors of said corporation, under the authority

vested in them by the eighth section of its charter

aforesaid, to invest the capital and funds of the com-

pany, from time to time, in the stocks and bonds of

the United States, state of Maryland, or other well

secured stocks, and to dispose of the money or prop-

erty of the company in such manner (not contrary to

law) as to them shall appear most advantageous to the

Invest capital.

company, are hereby declared to be authorized to in-

vest said capital and funds, to such extent as they

may deem advisable and advantageous to the com-

pany, in loans and mortgages on the security of real

as well as personal property, in ground-rents and

well secured bonds and other securities as well as

stocks, and to hold and to dispose of such real estate as

the company may require by foreclosure of mortgages,

sales under judgments or otherwise, by way of security

for loans or debts.

SEC. 3. And be it enacted, That the legislature re-

Right to amend

serves to itself the right to amend, alter and repeal

this act at any time or times hereafter.

SEC. 4. And be it enacted, That this act shall take

Effective.

effect from the date of its passage.

Approved April 8, 1884.