1860.

LAWS OF MARYLAND.

CHAP. 170.

CHAPTER 170.

AN ACT amendatory of the act entitled, an act
to incorporate the Mutual Fire Insurance Com-
pany in Baltimore county, passed at December
session, eighteen hundred and forty-nine, chap-
ter two hundred and thirteen.

Election of
directors.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That it shall be the duty of the presi-
dent or secretary of the Mutual Fire Insurance
company in Baltimore county, annually to give no-
tice of at least ten weeks by advertisement in some
newspaper published in Baltimore, Carroll and
Frederick counties, and Baltimore city, of the elec-
tion required to be held on the first Monday of
January in each and every year for thirteen di-
rectors of said company, who shall be members
thereof, but in case such election should from any
cause not be held on the said day, the company
shall not 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, and at such elections each mem-
ber shall have one vote, and may vote either in
person or by proxy, and no proxy shall be deemed
valid unless it shall have been executed and de-
livered within the year immediately preceding the
election to be held.

Constitution
and by-laws.

SEC. 2. And be it enacted, That the board of di-
rectors of the said company are hereby authorised
to have and make such constitution and by-laws,
as in their judgment may be necessary for the pro-
per management of its affairs, and the same to al-

Provisos.

ter or amend from time to time; Provided, that no
such amendment or alteration shall be made ex-
cept by the concurrent votes of two-thirds of the
whole board, exclusive of the president; and pro-
vided also, that such constitution and by-laws,
shall not be in conflict with the Constitution and
Laws of this State.

Fiscal year
— annual
statement —
examiners,
&c.

SEC. 3. And be it enacted, That the fiscal year
of this company shall begin on the first day of
March, and terminate on the last day of February
in each and every year, computing from the first
day of March eighteen hundred and sixty-one,
and the secretary and treasurer shall make a de-