THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1845.

to for premiums for insurance, or for any part or parts
of said premiums, shall constitute and be deemed a lien,
or any real estate which may be insured in consideration
or part consideration of such notes, judgments or eviden-
ces of debt; which real estate shall be held liable for the
full and just payment of such notes, judgments or evi-
dences or 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
or mortgage or transfer of such real estate subsequent to
the date of such notes, judgments or evidences of debt,
and during the time they are in existence, shall not in-

CHAP. 118.

validate or prejudice the lien created thereon by the
making and delivery of such notes, judgments or evi-
dences of debt; and such real estate shall only be released
from liability or lien thereon, on the full payment of such
notes, judgments or evidences of debt, or such part
thereof as may be demanded by the president and direc-
tors of the company and the cancelling of the insurance
or insurances for which they were given as premiums
under such regulations as the said president and directors

Not to invali-
date or preju-
dice the liens.

may establish; and in case of refusal or neglect, to pay
such notes, judgments or evidences of debt, either wholly
or in part, whenever and as often as demanded by the
said president and directors of the company, the said
president and directors may proceed to collect the same,
or any part thereof, in the manner hereinafter provided.

Neglect to pay

SEC. 5. And be it enacted, That William T. Smith,
James T. Dunbar, Caleb Griffith, John M. Comegys,
George B. Westcott, Peregrine Wroth, Thomas C. Ken-
nard, Hugh Wallis, Jacob Fisher, William B. Wilmer,
Edward Wilkins and Samuel E. Baker, are hereby cre-
ated directors of the said Mutual Fire Insurance Com-
pany of Kent County, until the first Monday in January
one thousand eight hundred and forty seven, and until
their successors shall be elected as hereinafter provid-

Directors.

ed for, and such of them as shall be present at their
first meeting, shall proceed to organize the company
by electing a president and secretary thereof, and as
soon after as practicable, adopt a form of constitution
and by-laws, to provide the necessary books, and other-
wise prepare the company for the transaction of busi-
ness; and when so prepared, to exercise a general
superintendence of the affairs of the company — and
the board of directors above named and any other board
15

Organize.