550 LAWS OF MARYLAND. [CH. 308

Acts of 1912, entitled "An Act to amend the Charter of
the Mutual Insurance Company of Frederick County. "

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Sections Four, Five, Seven, Eight, Nine and Ten of
Chapter 841 of the Acts of 1912, entitled "An Act to amend
the Charter of the Mutual Insurance Company of Frederick
County, '' be and the same are hereby repealed and re-enacted
to read as follows:

SEC. 4. The annual meeting of the members of the company

for the election of the directors shall be held on the first Monday
in May of each year at such hours as the board of directors may
determine. Special meetings of the members may be called at
any time by the board of directors. At all members' meetings
each member present in person or by proxy shall be entitled to
one vote for each policy held by such member; proxies to be
valid must be dated and executed within three months and filed
with the secretary not less than twenty days before any meet-
ing at which they are to be voted.

SEC. 5. The secretary shall give at least two weeks' notice of
all annual and special meetings by advertisement in one or more
newspapers published in Frederick county and such additional
notice as may be required by law. If for any reason a members'
meeting shall not be held at the appointed time, it shall be held
at such early subsequent date as may be fixed by the board of
directors after similar notice.

SEC. 7. The directors of the company shall determine the
rates at which insurance will be written, said rates to be com-
puted according to the hazard of the risk; they shall also deter-
mine the contingent liability of the members of the company
for the payment of losses and expenses in excess of the cash
funds of the company.

SEC. 8. When application shall be made for insurance, in
writing or otherwise, the policy issued by the Company or its
agent, the cash premium and other charges thereon paid, or
when the insured has accepted any policy issued by the Com-
pany or agent, whether the premium thereon shall have been
actually paid or not, the insured shall be deemed to be a duly
constituted member of the Company, entitled to all the priv-
ileges of a member and bound by all the rules and regulations
thereof as contained in its charter and by-laws.

SEC. 9. Every policy written by the Company shall state
plainly the premium for which it is issued, and by its accept-