806

LAWS OF MARYLAND.

CHAP. 441

mortgages, dividends and incomes of all kinds, and to have
the management and custody of all kinds of property on
such terms as it may arrange.
SEC. 7. And be it further enacted, That ten days' notice

Annual
election.

shall be given by publication in one or more newspapers
published in Baltimore city of the time and place of said
annual election, which annual election shall be conducted by
three stockholders, to be selected by the body of stock-
holders, one of whom shall be designated to act as judge
and the other two as inspectors.
SEC. 8. And be it enacted, That the directors shall have

Declare
dividends.

power to declare such dividends of profits of the said cor-
poration as they may deem proper; provided, that no divi-
dends shall be declared when the capital stock would be
impaired thereby; provided, however, that this company
shall not be allowed to do a banking or trust company busi-
ness.
SEC. 9. And be it enacted, That the said company shall

Act as agents
for insurance
companies.

have the power to act as agents for insurance companies and
shall also have power to consolidate with any other company
or corporations having like or similar powers, upon such
terms as may be agreed by the majority of the stockholders
of such company or corporation; provided, that said cor-
poration shall be subject at all times to the provisions of the
Acts of 1892, Chapters 109 and 279, or amendments or
supplements thereto, in so far as they affect this charter and
as said Acts shall respectively remain in force.
SEC. 10. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved April 5, 1906.