LLOYD LOWNDES, ESQUIRE, GOVERNOR.

Fire Insurance Company of Snow Hill, Maryland, and as such
shall be capable, in law, to insure real and personal property,
and effects against loss or damage by fire, under such con-
ditions as may be by said body corporate adopted, and shall be
embodied in the contract or policy of insurance, also to pur-
chase, improve, lease, mortgage, hold and dispose of property,
real, personal or mixed, to borrow or loan money on mortgage,
to make advances upon buildings and lands, to loan on collat-
eral or private securities, and to do all other acts that may be-
promotive of the interests of the said body corporate in so far
as the same shall not be in conflict with the laws of the United
States, or of the State of Maryland; and the said body corpo-
rate shall have power to make and use a common seal, the
same to change, alter and renew at pleasure, ta sue and be sued,
to plead and be impleaded, to answer and be answered in any
court of law or equity or elsewhere, to made all deeds, trans-
fers, contracts, conveyances and grants whatsoever, and gen-
erally to possess and exercise all and singular the powers
incident to bodies politic and corporate.

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SEC. 2. And be it enacted, That the affairs of the company
shall be managed by a board of directors composed of not lese
than twelve or more than eighteen, who shall be elected by
the shareholders comprising this company, in person or by
proxy, on the first Monday in May after the passage of this
act, and in each and every year thereafter, from among said
shareholders, by ballot, to manage the affairs of said company
for one year thereafter or until an election' shall take place
and their successors shall be duly qualified. If no election
take place on the day named, then the same may take place
at any time thereafter; the directors shall qualify at the next
weekly meeting of the company succeeding their election, and
a majority of them are empowered to transact the business of
the corporation.

Board of
directors.

SEC. 3. And be it enacted, That the directors, or a majority,
shall have power to elect from their own body a president, vice-
president and secretary, to fill all vacancies that may occur in
their offices and in their own body, to appoint all other officers,
agents and servants as they may deem necessary to conduct
and execute the business of the corporation, and in their dis-
cretion to dismiss them; to take bonds for said corporation
from all or any of the officers, agents or servants by them so
appointed with security, conditioned in such form as they shall
approve, for the faithful performance of their respective duties,
and to secure the corporation against loss; to prescribe the

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Officers and
agents.