1124

LAWS OF MARYLAND.

judges, who shall certify under their hands and seals the result
of such election, to be filed with the secretary.
SEC. 7. And be it further enacted. That the said company

Insure
property.

shall have authority and may take insurance on any kind of
property, against loss or damage occasioned by lightning,
whether fire shall result therefrom or not, and may make such
by-laws and regulations concerning liability for loss or damage
by lightning, as may be deemed necessary.

Make
by-laws.

SEC. 8. And be it further enacted. That the board of direc-
tors shall make such by-laws not inconsistent with this charter,
or the laws of the State of Mar) land, as they may deem nec-
essary to conduct the affairs of the company, and shall have
power to alter and amend the same ; and the said by-laws, and
every amendment -thereof, shall be binding upon all members
of said company, in case any vacancy occuring in the board of
directors, the same shall be tilled by selection of the remainder
of the board, to serve for the unexpired term, who may also
select other directors than those named herein, making total
number fifteen.
SEC. 9. And be it further enacted, That the board of direc-

Regulate
time and
duration of
its policies.

tors shall have power to regulate the time and duration of
all its policies and the rates of insurance ; to provide for the
payment of all losses and expenses incurred by said company,
and the president and secretary shall sign all policies of insur-
ance issued by the company ; and in the absence of the presi-
dent the vice-president shall perform the duties of the
president.
SEC. 10. And be it further enacted. That every member of

Notice to be
given with-
in thirty
days

this company who shall sustain loss or damage by fire or light-
ning, shall give notice thereof to the secretary of the company,
at his office, within thirty days from the date of such loss, to
the end that they may inquire .into the same ; and the said
president and directors shall direct the proper appraisers to
view the premises and determine the loss actually sustained,
and make report within ten days after notice of such loss ; and
in cases where persons sustaining loss by fire or lightning shall
be dissatisfied with the estimate of his loss by the appraisers,
on his request in writing, the subject shall be submitted to
three disinterested persons, one chosen by the directors, one by
the person insured, who has sustained the loss, and the third
one by the two referees thus chosen, and the report of the
three persons thus chosen, or of any two of them, shall be con-
clusive as to all parties in interest ; and no officer of this com-
pany or near relative of any loss claimant, shall be eligible as