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and they are declared to be a body politic and cor-
porate by the name and of the Southern Slavehold-
ers Insurance Company, of Maryland, and by that
name shall have perpetual succession, and be capa-
ble in law, to sue and be sued, plead and be im-
pleaded, answer and be answered, defend and be
defended, in all courts of law and equity or else-
where, to make and use a common seal, and the
same to alter and renew at pleasure, and generally
to do and perform all things relative to the objects
of this institution, which now or are or may be
lawful for any individual or body politic or corpo-
rate to do.
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CHAP. 390.
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SEC. 2. And be it enacted, That this corporation
shall be and they are hereby authorised and em-
powered to insure any person or persons whether
the same be residents of the State of Maryland, or
any other State, District or Territory of the United
States, against any loss sustained by his, her or
their slaves running away, absconding or escaping
from, his, her or their control, and such insurance
shall be made at such rates and under such regu-
lations as may be determined upon by the board of
directors of said company, and when a slave so in-
sured shall run away, abscond or escape from the
control of his or her owner or owners, it shall be the
duty of said owner or owners to notify the company
of such fact without delay, and said company shall
be entitled to return said slave to the custody of
his or her owner or owners within a reasonable
time after such notification, or in default thereof,
shall pay to the owner or owners, the value of said
slave as fixed by the policy of insurance, unless
meanwhile by disease or injury the value of such
slave shall have been decreased, and in case of such dis-
ease or injury, the value of such slave shall be as-
certained by arbitrament and appraisement of two
disinterested competent persons, one of whom shall
be chosen by said company, and one by said owner
or party assured, and in case the two so to be cho-
sen cannot agree, they to select a third party, and
the decision of any two of said three shall be final
and conclusive, and upon payment of the value of
said slave as aforesaid, the said owner or owners
shall by the proper instrument of writing required
by the laws of the State of Maryland, or of the
place where such sale shall be made, convey and
transfer all his, her or their right, title and inter-
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Authorised
to insure
against loss
from the run-
ning away of
slaves, &c.
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