LAWS OF MARYLAND.

1842

corporation to be created by this act, are hereby created
and declared to be a body politic and corporate by the
name, style and title of The Mutual Fire Insurance Compa-
ny, in Harford county, and by the same name shall have
succession, and shall be able to sue and be sued, implead
and be impleaded, answer and defend and be answered and

CHAP. 214.

defended in all courts of law or equity in this State or else-
where; to have, make and use a common seal, and the same
to break, alter and renew at their pleasure, and shall have
full power a id authority to make insurances on any kind of
property against loss and damage by fire; to provide for the
keeping and investment of any funds or assets that may be--
come the property of the company, and generally to trans-
act, execute and perform all such business as may apper-
tain to a fire insurance company, not being contrary to this
act, or the constitution and laws of this State or of the
United States; provided however, that nothing in this act
shall be construed to grant any banking privileges on the
said company, or the right to issue any note of the nature
of a bank note.

Common seal;
Proviso..

SEC. 2. And be it enacted, That it shall be the duty of
the secretary of the said company to keep a book contain-
ing a copy of this act, and of such constitution and bye-
laws of the said company as may be established, and thai
all persons who may wish to become members of the said
company shall be required to express in writing; at the fool
thereof their assent thereto, which expressions of assent,
and the payment of such fees, charges or premiums as may
be demanded by the proper officers of the corporation shall
constitute such persons members of the said company, and
as such shall be bound by all the rules and regulations of
said company as contained in this act, and in the constitution
and bye-laws of said company; and every person or per-
sons or corporation which shall be insured by this company
shall become members thereof as already provided for.

Secretary to
keep a book
containing a
copy of this
act, constitu-
tion and bye-
laws.

SEC. 3. And be it enacted, Thai any member of the said
company shall have full power to withdraw therefrom at
any lime by applying to the proper officer thereof, and pay-
ing such fees as may be reasonably demanded, any ar-
rearages of assessments that lie may then owe to the com-
pany, when the said proper officers shall cancel such insu-
rance or insurances as may be in the name of the person so
withdrawing, and make a record thereof in the books of
the company, which shall release such member and any
real estate that he may have insured, from all liabilities for
or on account of any notes, due bills or other evidences of
debt to the said company held by it for premiums on such
real estate, the insurance on which shall thus be cancell-

Member of
company may
withdraw on
stipulated
conditions, &c