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A. W. BRADFORD, ESQUIRE, GOVERNOR. 513
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CHAPTER 362.
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AN ACT to incorporate the "Maryland Life In-
surance Company of Baltimore."
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Passed Mar.
10, 1864.
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SECTION 1. Be it enacted by the General Assem-
bly of Maryland, That A. H. Barnitz, J. K. Cald-
well, Simon Grinsfelder, James Glassgow, Wil-
liam Hanna, Lewis Sutton, W. Alexander, George
A. Mills and Thomas Kemp, their associates, suc-
ceasors,apd assigns, shall be and they are hereby
incorporated as a body politic, under and by the
name of the "Maryland Life Insurance Company
of Baltimore," and by that name shall have per-
petual succession, sue and be sued, implead and be
impleaded, make and use a common seal, and the
same to bread, alter and amend at pleasure, when
and as they may think proper, and exercise and
enjoy all the rights, privileges and immunities of
and appertaining to a body politic and corporate.
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Incorporated
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Sec. 2. And be it enacted, That the business of
the said corporation shall be to make insurance on
the lives of individuals, and accidents by travel,
and every insurance appertaining thereto, or con-
nected with such risks, and to grant, purchase or
dispose of annuities.
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Insurance.
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Sec. 3. And be it enacted, That there shall be a
guarantee capital of at least one hundred thousand
dollars, to be divided into shares of twenty dollars
each, which shall be personal property, transfera-
ble on the books of the company, in conformity
with its by-laws.
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Guarantee
capital.
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Sec 4. And be it enacted, That the said guar-
antee capital stock shall be invested in the securi-
ties of the United States, the State of Maryland, or
of the city of Baltimore, either one or all of said
securities, and the same deposited with the Trea-
surer of this State, as a guarantee for the payment
of the policies of insurance issued by said company;
and the said company, from time to time, as they
shall deem proper, may sell and dispose of said
securities, and exchange and re-deposit the same
with the said Treasurer, under such rules and
regulations for said exchange and re-deposit as
said Treasurer shall direct, the said company con-
65
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Capital stock
— how invested
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