1860.

LAWS OF MARYLAND.

CHAP. 227.

before the expiration of any year of insurance, when
the amount of the premium has been paid, after the
said erection, alteration, or change of occupation,
so increasing their risk, shall be made known to said
board of directors an additional premium note, or
additional payment of cash premium, and in
case such demand be not complied with, then
the said company shall not be compelled to rein-

Proviso.

sure, but the policy shall cease and be void; Pro-
vided, that if the owner of said property, so en-
dangered or increased in risk, shall fail to notify
the said company of such increase of risk, within
thirty days after the said increase of risk shall oc-
cur, the said policy or policies shall be void.

Company may
rebuild or re-
pair property
destroyed.

SEC. 2. And be it further enacted, That in all
cases in which property insured by this company
may be totally or partially destroyed by fire, that
it shall and may be lawful for the company to re-
build or repair the same.

Quorum.

SEC. 3. And be it further enacted, That five
members of the board of directors shall constitute
a quorum for the transaction of all business, except
the election or removal of officers, which shall only
be done by a majority of the whole board.

Executive
committee —
its duties, &c

SEC. 4. And be it further enacted, That the
president of the said company shall every month
appoint an executive committee of three persons,
members of the board of directors; who shall be
vested with power to act upon all transfers and
application for insuring property, made in the in-
tervals of the meetings of the board of directors,
and direct policies to be issued, to be signed by the
president, and attested by the secretary, and their
proceedings shall be entered in the minutes of the
secretary.

Renewal of

policies.

SEC. 5. And be it further enacted, That, when
any member of the said Mutual Insurance company
of Frederick county shall apply at any time after
the commencement or renewal of his policy for an
additional insurance on his property already in-
sured in said company, or for an insurance on other
property, it shall be lawful for the said company to
insure the said property, or to grant an additional
insurance thereon for such period as will make the
said additional or new insurance expire at the same
time with the existing insurance, and thereafter to
renew the same annually, in the discretion of the