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Session Laws, 1860
Volume 588, Page 315   View pdf image (33K)
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T. HOLLIDAY HICKS, ESQ., GOVERNOR.

1860.

board of directors, as provided for the renewal of
insurance; Provided, the said applicant shall pay
the additional premium in cash, or shall give his
premium note for such increased or new insurance,
and shall pay the rateable interest thereon in ad-
vance for such period.

CHAP. 227.

Proviso.

SEC. 6. And be it enacted, That it shall and may
be lawful for the board of directors of said in-
surance company, when any member has several
insurances on premium notes, expiring at different
times, (with the consent of said member, ) to cause
the same to be consolidated, and to require the pre-
payment of interest as the same may expire, re-
spectively, for such period or periods as may be re-
quired to bring their renewal to the same date, and
thereafter to renew the same annually, in their
discretion, as other insurances of said company.

Consolidation
of premium
notes.

SEC. 7. And be it enacted, That it shall and may
be lawful for any member of said company, who
shall have given his premium note, or confessed
judgment for the amount of his premium, to pay
in cash, at any annual renewal of his policy or poli-
cies, the amount of his said premium note or judg-
ment, and the said note shall be cancelled, and the
said judgment be entered satisfied, and the pay-
ment aforesaid shall be endorsed upon the policy or
policies of insurance, and the said policy or policies
shall thereafter stand as if they had been originally
issued upon such payment of cash premium.

Payments.

SEC. 8. And be it enacted, That this act shall
be submitted to the members of the Mutual In-
surance company at a general meeting of the com-
pany, to be held at their office on the fifth day of
April, one thousand eight hundred and sixty, of
the time of which meeting, notice shall be given by
the secretary, by publication inserted in two or
more of the newspapers of Frederick county, at
least two weeks prior to said day, and if adopted
by a majority of the votes cast, according to the
ratio of voting prescribed by the by-laws, shall take
effect from said day.

In force.



 
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Session Laws, 1860
Volume 588, Page 315   View pdf image (33K)
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