FRANK BROWN, ESQUIRE, GOVERNOR.

CHAPTER 518.

AN ACT to incorporate the Standard Mutual Fire Insurance
Company of Maryland.

753

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Edward L. Collentz, William W. Daub,
Daniel S. Kepler, Emory G. Ramsburg and D. Edward
Kefauver, citizens and residents of Frederick county, Mary-
land, and their successors, be and they are hereby incorporated
under the corporate name of "The Standard Mutual Fire
Insurance Company of Maryland," and its principal office
shall be at Middletown, Frederick county, Maryland.

A body cor-
porate.

SEC. 2. And be it enacted. That this company is formed
for the purpose of insuring town and county dwellings, their
contents and such other real and personal property as the
board of directors may determine, against loss or damage by
fire or lightning.

Object of
corporation.

SEC. 3. And be it enacted, That the rights, powers and
privileges now or hereafter conferred by law upon this corpo-
ration shall be vested in and delegated to a board of five
directors, one of whom shall be elected annually from among
the members of the company on the last Monday of June in
each year, between the hours of eleven and twelve o'clock A.
M., and shall serve for five years and until their successors shall
be elected and qualified, of which annual election, ten days'
notice shall be given by publication in some newspaper
published in Frederick county, Maryland; and vacancies
occurring in said board shall be filled by the remaining
directors for the unexpired term or terms; every policy holder
shall be a member of the company and entitled to one vote
for each one thousand dollars of insurance held by him, every
policy holder to have at least one vote.

Board of
directors.

SEC. 4. And be it enacted, That the board of directors shall
annually elect, from their own number, a president; they shall
also appoint a secretary, who shall also be treasurer, and such
other officers, agents and attorneys as they may deem necessary
for the transaction of the business of the company, and shall
fix their compensation, and may discharge any or all of them
whenever they may deem it expedient. In case of the absence
of the president the remaining directors may elect from their
own number a president pro tem, who shall perform the
various duties of the president; and three members of said
board shall constitute a quorum for the transaction of business.

48

Officers.