698

LAWS OF MARYLAND.

CHAP. 383

stockholders holding at least a majority of the capital stock.
Ten days' notice shall be given by publication in two news-
papers published in Baltimore city, of the time and place of
the annual election.
SEC. 5. And be it enacted, That said corporation be and it
is hereby authorized and empowered to issue policies of

Issue policy of
Insurance.

insurance upon the lives or health 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 insur-
ance companies incorporated under the General Incorpora-
tion Laws of this State; provided always, that with reference
to the conduct of such insurance business said corporation
shall in all respects conform to and be subject to, and have
the rights and privileges secured by the provisions of the
Code of Public General Laws of this State, Article 23,
Sections 144 to 198, title, "Corporations," sub-title "Insur-
ance Companies" and "Insurance Department," and any
amendments or additions thereto now or hereafter to be
made, to as full an extent as the same are applicable to such
insurance companies incorporated under the general laws of
this State.
SEC. 6. And be it enacted, That the said corporation be
and it is hereby authorized, either for itself or for an agent,

May buy, Im-
prove, sell,
etc.,
property, etc

to buy, improve, sell, mortgage, convey, lease or otherwise
acquire, hold or dispose of real and personal property 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 of mortgage or debenture bonds, upon the
security of real or personal estate in the State of Maryland
or elsewhere; to loan money upon real or personal security ;
to loan money and to take advances secured by mortgages,
to be paid upon such terms and at such times and in such
instalments as may be approved by said corporation; to
loan and borrow money for any of the corporate purposes
of said corporation; to have discretionary power to invest
at its pleasure its capital and the 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 moneys aforesaid,