1452 LAWS OF MARYLAND.

said stock at the price and within the time named in said
resolution or resolutions, then the board of directors shall have
the power to sell said stock, payable in instalments, to such per-
sons or corporations as they may see fit, not, however, under
the price fixed in said resolution or resolutions.

SEC. 3. And be it enacted, That the directors shall be elected
annually by the stockholders on the second Tuesday in Janu-
ary, and they shall elect from their number at the first meeting
of the board after their election, as prescribed by the second
section of this Act, and after all subsequent elections, a presi-
dent and such vice-presidents as they may see fit; and shall also
have power to select a secretary and a treasurer, who may,
if desired, be one person, and such officers as may be pro-
vided for in the by-laws of said corporation, and to appoint
and employ such other officers, clerks and agents as the busi-
ness of the said company from time to time may require; all
elections shall be by ballot, and at all such elections and meet-
ings of stockholders every stockholder shall be entitled to one
vote for every share of stock held by him.

SEC. 4, And be it enacted, That said corporation be and it
is hereby authorized and empowered to issue policies of life,
health and accident insurance upon the lives 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, health and
accident insurance business to as full an extent as is or may
be conducted by life, health and accident insurance companies
incorporated under the general incorporation laws of this
State; provided, always, that with reference to the conduct of
such life, health and accident insurance business said corpora-
tion shall in all respects conform to and be subject to the
provisions of the Code of Public General Laws of this State,
article 23, sections 144 to 199, title "Corporations," sub-title
"Insurance and Insurance Department," and to any amend-
ments or additions thereto now or hereafter to be made, to as
full an extent as the same are applicable to life, health and
accident insurance companies incorporated under the general
laws of this State.

SEC. 5. And be it enacted, That the said corporation is au-
thorized to take, have, hold and enjoy all such estates, real,
personal and mixed, as may be obtained by the investment of
their capital stock, and all other moneys or funds that may
come into their possession in the course of their dealings and
business; and the same to sell, grant, mortgage, lease, improve
and dispose of at their pleasure, and to execute, acknowledge