1845.

LAWS OF MARYLAND.

CHAP. 118

insurance on any kind of property against loss and dam-
age by fire; to provide for the keeping and investment
of any funds or assets that may become the property of
the company, and generally to transact, execute and per-
form all such business as may appertain to a Fire Insur-
ance Company, not being contrary to this act or the con-
stitution and laws of this State or the United States;

Proviso.

provided, however, that nothing in this act shall be con-
strued to grant any banking privileges to the said com-
pany, or the right to issue any note of the nature of a
bank note.

Duty of Se-
cretary.

SEC. 2. And be it enacted, That it shall be the duty
of the secretary of the said company, to keep a book con-
taining a copy of this act, and of such constitution and
by-laws of the said company as may be established, and
that all persons who may wish to become members of
the said company, shall be required to express in writing
at the foot thereof their assent thereto, which expression
of assent and the payment of such fees, charges or pre-

Constitute
members.

miums 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 bond by all the rules
and regulations of said company as contained in this act,
and in the constitution and by-laws of the said company;
and every person or persons, or corporation, which shall
he insured by this company, shall become members
thereof, as already provided for.

Power to with-

draw.

SEC. 3. And be it enacted, That any member of the said
company shall have full power to withdraw therefrom at
any time by applying to the proper officer thereof, and
paying such fees as may be reasonably demanded, and
any arrearages of assessments that he may then owe to
the company, when the said proper officer shall cancel
such insurance 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 liability for or on account of any notes, judg-
ments, 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 cancelled, and shall de-
bar him or her from any claim on this corporation lor any
loss or damage by fire subsequent to the time of such
withdrawal and cancelling of insurance.

All promissory
notes, &c. shall
be deemed a
lien.

SEC. 4. And be it enacted. That all promissory notes,
notes of hand, judgments or other evidences of debt held
by the said company, which shall have been given there-