clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e

PLEASE NOTE: The searchable text below was computer generated and may contain typographical errors. Numerical typos are particularly troubling. Click “View pdf” to see the original document.

  Maryland State Archives | Index | Help | Search
search for:
clear space
white space
Session Laws, 1931
Volume 580, Page 111   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

ALBERT C. RITCHIE, GOVERNOR.                  111

in consequence thereof, be dissolved; but such election may be
held at such subsequent time as may be selected by the Board
of Directors, or a majority of them. In case of the death or
resignation of a director the Board of Directors, by a, majority
vote, may elect a successor to fill his unexpired term.

7.      The Constitution and By-Laws of the said Company
shall only be made or amended by the concurrent vote of at
least two-thirds of the whole Board of Directors, exclusive of
the President. The directors shall have exclusive authority to
control and manage the company's affairs.

8.     It shall be the duty of the Secretary, when required by
the Board of Directors, to call a meeting of the members by
giving notice as in case of election of directors for the trans-
action of such business as may be specified by the Board of
Directors. The notice shall state briefly the things to be con-
sidered. Any resolutions or proceedings pertaining to the sub-
ject to be considered passed by a majority vote of the members
voting shall be binding upon the directors, officers and mem-
bers.

10.     This Act and any amendments thereof, the constitution
and by-laws of the company and the policy issued to and
accepted by him, shall constitute the contract of the member
touching his insurance, and no agent of said company shall
have power to vary or waive any of the provisions of said con-
tract. All the assets of said company shall remain a fund
solely for the purpose of paying the expense of its conduct and
its losses as insurer, but the company may allow such discounts
as the Board of Directors from time to time may determine as
a credit against or upon premiums of members whose insur-
ance shall be extended or renewed, or declare and pay or apply
dividends from excess earnings or profits.

11.     In elections for directors and upon all questions to be
voted upon in any member's meeting, each member shall have
not exceeding one vote in person or by proxy; provided where
two or more persons are members by virtue of the same policy
or policies, each such person may cast a fractional vote equiva-
lent to his proportionate, interest in such policy or policies.

All proxies to be voted shall be duly executed, and acknowl-
edged before an officer authorized to take acknowledgments to
deeds.

 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1931
Volume 580, Page 111   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  October 10, 2023
Maryland State Archives