T. HOLLIDAY HICKS, ESQ., GOVERNOR.

1860.

and such real estate shall only be released from
such lien or liability thereon, on the full payment
of such notes or evidences of debt, or such part
thereof as may be demanded by the president and
directors of the company, and the cancelling of the
insurance or insurances, for which were given as
premiums, under such regulations as the president
and directors may establish, and in case of refusal
or neglect to pay such notes or evidences of debt,
either wholly or in part, whether and as often as
may be demanded by the president and directors of
the company, the said president and directors may
proceed to collect the same or any part thereof in
the same manner as in the foreclosure of a mort-
gage on real estate, the said notes, or evidences of
debt, to be held and deemed as a mortgage on such
real estate.

CHAP. 266.

SEC. 5. And be it enacted, That Joseph Will-
hide, Wm. C. Landers, John Rouzer, Henry Rou-
zer, Dr. Wm. White, Joshua Stokes, Gotlep J.
Sigmand, Henry Black, John H. Pollery, Andrew
Sifton, Frederick White and Leonard Pickering are
hereby created directors of the said Mutual Fire In-
surance company in Frederick county until the
first Monday in October, in the year eighteen hun-
dred and sixty, and until their successors shall be
elected, as hereinafter provided for, and such of
them as shall be present at the first meeting shall
proceed to organize the company by electing a
president and secretary thereof, and as soon there-
after as practicable adopt a form of constitution and
by-laws, to provide the necessary books and other-
wise prepare the company for the transaction of
business, and when so prepared, to exercise a gen-
eral supervision of the affairs of the company, and
the board of directors, that may be hereafter elec-
ted, as hereinafter provided for, shall have author-
ity to allow any officer or officers in the employ of
the company such salaries, fees or compensation as
they may deem proper, and all officers of the com-
pany, other than directors, shall be appointed an-
nually, by such directors as shall be present at the
first meeting of the board after the first or annual

Directors.

election of directors, and in case, of any vacancy or
vacancies occurring in the board of directors, at
any time or times, from any cause whatsoever, such
vacancy or vacancies shall be filled by the remain-

Vacancies —
how filled.