954

LAWS OF MARYLAND.

CHAP. 486

payment, the company shall cancel such insurance as may
be covered thereby, and such cancellation shall release said
member, and the real and personal estate that he may have
insured under the surrendered policy from all liability for
or on account of any and all obligations, claims or demands
due or owing to said company on account thereof, and shall
debar said member from any claim on the company for any
loss or damage by fire subsequent to the time of such with-
drawal and cancellation; and the company may at any time
cancel any policy issued by it upon the return of the
unearned portion of the annual cash cost.
SEC. 6. And be it enacted, That whenever the company
shall issue a policy for the insurance of any property, real or

Security to be
given.

personal, the directors may require such security as they
shall deem necessary to secure the payment of the annual
cash cost of the policy, and such assessment as may be duly
laid, together with all costs of collecting the same.
SEC. 7. And be it enacted, That if any member shall fail to

Excluded from
benefits.

pay in advance the annual cash cost of his policy, he shall
be excluded from all benefit of his insurance, but at the same
time shall be held liable for contribution for any loss incurred
by the company during the term he is so in default.
SEC. 8. And be it enacted, That this Act shall be submitted

Submitted to
vote of
members of
company.

to the members of said company at the annual meeting
thereof, to be held on the first Monday in May, 1906, after
giving at least two weeks' previous notice in some newspaper
published in Frederick county; and if a majority of the
members present at said meeting shall give their consent,
then this Act shall take effect from and after the date of said
meeting; but if at such meeting a majority of the members
then present do not assent, then this Act shall not take effect,
but shall be null and void.
SEC. 9. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved April 3, 1906.