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CHAP. 318
Board of
directors.
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SEC. 3. Be it enacted, That the board of directors of said
corporation shall consist of not less than seven nor more
than twenty-five, who shall be elected annually on the second
Tuesday in February, at the annual meeting of the stock-
holders, at which meeting every stockholder shall be entitled
to one vote for each share of stock held by him, and a
majority of stock present at such annual meeting shall con-
stitute a quorum.
SEC. 4. Be it enacted, That the said corporation shall be
and it is hereby authorized, either for itself or as agent, to
buy, improve, sell, lease or otherwise acquire and hold, real,
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May buy, sell
lease
property.
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personal or mixed property, in the State of Maryland or
elsewhere; 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 Maryland or elsewhere ;
to have discretionary power to invest at its pleasure its
capital and its increment thereof, and all moneys received in
the course of its business transactions, and to take, have,
hold and enjoy all such estates, real or personal as may be
obtained with the money aforesaid, and to execute, acknowl-
edge and deliver all deeds and legal papers, and any instru-
ments concerning the same.
SEC. 5. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved April 3, 1906.
CHAPTER 319.
AN ACT to amend the Charter of the People's Mutual Fire
Insurance Company of Harford County, a corporation
duly organized under the General Laws of this State, and
to enlarge its powers.
SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the charter of the People's Mutual Fire Insur-
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Ratified and
confirmed.
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ance Company of Harford county, incorporated under the
public general laws of Maryland, as the same appears by
its certificate of incorporation filed and recorded among the
incorporation records of Harford county, be and the same
is hereby ratified and confirmed, and in addition to the
powers, rights and privileges in the said certificate enumer-
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