EDWIN WARFIELD, ESQ., GOVERNOR.

583

SEC. 2. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved April 5, 1906.

CHAPTER 318.

AN ACT to amend the Charter of the Commonwealth Life
Insurance Company of Baltimore City, Maryland, a body
corporate under the General Laws of the State of
Maryland.

SECITON 1. Be it enacted by the General Assembly of Mary-

CHAP. 317

land, That the charter of the Commonwealth Life Insurance
Company of Baltimore City, Maryland, a body corporate
formed under the general laws of the State of Maryland, shall
be perpetual, and that the aforesaid company, by the name
of the Commonwealth Life Insurance Company of Baltimore
City, Maryland, shall have succession, be capable in law to
sue and be sued, plead and be implead, answer and be
answered, defend and be defended in all courts of law or
equity, in Maryland or elsewhere; and to make and to use
one common seal.

SEC. 2. And be it enacted, That the capital stock of said

Body corporate

corporation shall be one hundred and fifty thousand
($150,000.00) dollars, divided into fifteen thousand (15,000)
shares of the par value of ten ($10.00) dollars; and that the
capital stock may be increased by the board of directors
from time to time to an amount not exceeding in the aggre-
gate five million ($5,000,000.00) dollars; and should the
capital stock from time to time, or at any time or times, be
increased, that the additional shares so authorized shall be
sold pro rata to any person or persons taking a policy of
insurance with said company, upon the payment of such
price at par or above par for said stock as may be deter-
mined upon by the board of directors of said corporation at
the time of such increase; and in case of the failure of any
person or persons so entitled to subscribe and pay for their
pro rata share of said stock at the price, and within the time
named by the board of directors, shall have the power to
sell said stock to such persons or corporations as they may
see fit, not, however, under the price originally fixed.

Capital stock.