EDWIN WARFIELD, ESQ., GOVERNOR.

1239

by the second section of this Act, and after all subsequent
elections, a president and such vice-presidents as they may
see fit; and shall also have power to select a secretary, a
treasurer, who may, if desired, be one person, and such
officers as may be provided for in the by-laws of said cor-
poration, and to appoint and employ such other officers,
clerks and agents as the business of the said company from
time to time may require; all elections shall be by ballot,
and at all such elections and all meetings of stockholders,
every stockholder shall be entitled to one vote for every share
of stock held by him.
SEC. 4. And be it enacted, That said corporation be and it
is hereby authori2ed and empowered to issue policies of life

CHAP. 731

President and
other officers
elected.

insurance upon the lives of any and all person or persons,
upon such terms and conditions as may be agreed upon
between said corporation and such person or persons, and as
may be embodied in such policy or policies so to be issued,
and to conduct generally a life insurance business to as
full an extent as is or may be conducted by life insurance
companies incorporated under the general incorporation
Jaws of this State; provided, always, that with reference
to the conduct of such life insurance business, said cor-

Authority to
Issue
policies of
life
insurance.

poration shall in all respects conform to and be subject to
the provisions of the Code of Public General Laws of this
State, Article 23, Sections 112 to 142, title " Corporations,"
sub-title "Insurance and Insurance Department," and to
any amendments or additions thereto now or hereafter to be
made, to as full an extent as the same are applicable to life
insurance companies incorporated under the general laws of
this State.
SEC. 5. The said corporation shall be and is hereby

Proviso.

authorized, either for itself or as agent, to buy, improve, sell,
lease or otherwise acquire and hold real and personal prop-
erty in the State of Maryland or elsewhere, as fully and
completely as a natural person; to loan money upon, purchase
or sell, or issue bonds or mortgages or debenture bonds upon
the security of real or personal estate in the State of Mary-
land or elsewhere; to loan money upon real or personal
security; to loan money and to make advances secured by
mortgages, to be paid upon such terms, at such times and in
such installments as may be approved by such corporation ;
to loan -and borrow money for any of the corporate purposes

Real estate
may be
bought, sold
or improved.