1842

FRANCIS THOMAS, ESQUIRE, GOVERNOR.

CHAP. 214.

Promissory
notes, &c. gi-
ven as premi-
ums, deemed
lien.

ed, and shall debar him or her from any claim on this cor-
poration for any loss or damage by fire, subsequent to the
time of such withdrawal and cancelling of insurance.
SEC. 4. And be it enacted, That all promissary notes,
notes of hand or other evidences of debt held by the said
company, which shall have been given thereto for premi-
ums for insurance, or for any part or parts of said premi-
ums shall constitute and be deemed a lien or any real estate
which may be insured in consideration or part considera-
tion of such notes or evidences of debt, which real estate
shall be held liable for the full and just payment of such
notes or evidences of debt, either wholly or in part, at such
time or times as the president and directors shall demand,
and of all legal charges that may be incurred in enforcing
payment thereof, in case of refusal or neglect to pay by the
drawers of such notes or evidences of debt; any sale,
mortgage or transfer of such real estate, subsequent to the
date of such notes or evidence of debt, and during the time
they are in existence, shall not invalidate or prejudice the
lien created thereon by the making and delivery of such
notes or evidences of debt; and such real estate shall only
be released from such liability or lien 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 in-
surances, for which they were given as premiums under
such regulations as the said president and directors may es-
tablish; and in case of refusal or neglect to pay such notes
or evidences of debt, either wholly or in part, whenever and
as often as may be demanded by the president and direc-
tors 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 fore-closure of a mortgage on real estate,
the said notes or evidences of debt to be held and deemed
as a mortgage on such real estate.

Directors.

SEC. 5. And be it enacted, That Ralph S. Lee, Dr. Da-
vid S. Gittings, Charles S. Sewell, Wilson M. Carey, Dr.
Thomas C. Hopkins, William Murphey, Dr. Walter T.
Allender, Alexander Norris, James Moores, John W. Rut-
ledge, Abraham J. Street, Samuel Parker, Joshua Hutch-
ings, David G. McCoy and John Robinson, are hereby cre-
ated directors of the said Mutual Fire Insurance Company in
Harford county, until the first Monday in January eighteen
hundred and forty-four, and until their successors shall be
elected as hereinafter provided for; and such of them as
shall be present at their first meeting, shall proceed to or-
ganize the company, by electing a president and secretary
(hereof, and as soon after as practicable to adopt a form of