1843.

FRANCIS THOMAS, ESQUIRE, GOVERNOR.

chap. 342.

or alley, under and in virtue of this act, shall be defrayed
by the proprietors of the lots upon which the said street,
lane or alley shall bind.

CHAPTER 342.

Passed Match
4, 1844.

An act to incorporate the Carroll county Insurance Com-
pany.

Incorporated.

Section I. Be it enacted by the General Assembly of
Maryland, That the persons who shall, as hereafter men-
tioned, become subscribers to the capital stock of the
corporation hereby created, and such other persons as
shall hereafter become stockholders in the said corpora-
tion, be and they are hereby created and declared, to be
a body politic and corporate, by the name, style and title
of Ihe Carroll county Insurance Company; and by the
same name shall have perpetual succession, and shall be
able to sue and be sued, implead and be impleaded, an-
swer and defend, and be answered and defended, in all
courts of law or equity, in this state or elsewhere; and to
make and have a common seal, and the same to break,
alter and lenew at their pleasure; and also to do all acts
which shall appear necessaiy, for conducting the concerns
of the siiid corporation, and not being contrary to this act,
or the constitution and laws of this state, or of the
United States.

Ctpital stock
$100,000.

Sec. 2. And be it enacted, That the capital stock of
said corporation shall be one hundred thousand dollars,
divided into five thousand shares of twenty dollars each;
one dollar on each share shall be paid at the time of sub-
scribing, and the further sum of one dollar on each share
in ninety days from the said time of subscribing, and the
remaining eighteen dollars on each share shall be secured
by the note or notes of the subscribeis with security to
be approved by the president and directors for the time
being; the said notes may be renewed or any portion
thereof whenever the said president and directors may
think proper, and all or any portion of the said eighteen
dollars shall be paid in such instalments and at such times
as the said president and directors may require and di-
rect, and any stockholder neglecting or refusing to renew
his note as aforesaid, or to pay such instalment as afore-
said when required so to do by said president and direc-
tors, shall forfeit to the company all his interest therein,
and all the money which he may have paid on his sub-
scription to the stock of said company.