1845.

LAWS OF MARYLAND.

CHAP. 37.

Directors to
eject officers.

SEC. 4. And be it enacted, That the directors of this
to company shall have full power to elect the officers above
named, to fix their salaries, to approve the bonds
required from such officers, to prescribe the form and
penalty thereof, to fix the rate of insurance, and to de-
cide upon all applications for the same, to prescribe the
form and amount of premium notes according to the
nature and greater or lesser hazard of the property
insured, provided the same be not less than seven per
cent, on the amount of property insured, to order and
direct all policies to be issued, which policies shall be
signed by the president and attested by the secretary,
provided no policy shall be issued until persons holding
property to the amount of our hundred thousand dollars
of insurable property shall become members of this
company, and such company are hereby vested with all
powers requisite and proper to carry this act into effect,
provided the same be not inconsistent with the consti-
tution and laws of this State, and in case any vacancies
shall occur in the board of directors from death, resigna-
tion or any other cause the board of directors shell
supply such vacancy or vacancies until the next annual
election.

Terms of a
membership.

SEC. 5. And be it enacted, That any person or persons
or any body corporate may become members of this
institution by insuring his her or their property with the
company and by paying in advance in cash, or by exe-
cuting his note at his, her or their option, (which note
shall be secured in the manner hereinafter prescribed)
for such premium as may be required by the board of
directors, not less than seven per cent on the amount
insured, according to the greater or less hazard of
insurance, the note to be made to the Mutual Insurance
Company of Washington, County and to bear interest
from date, the interest thereof to be paid annually in
advance at the rate of six per cent, per annum.

Mutual Insu-
rance to fur-
nish the clerk
with docket.

SEC. 6. And be it enacted, That the clerk of the
county wherein the property insured maybe situated
shall be furnished with a docket by the Mutual Insurance
Company, in which docket shall be entered a judgment
by the person or persons or body corporate to the
Mutual Insurance Company of Washington county,
for the amount of his, her or their premium note, with-
out a declaration being filed, appearance for the plaintiff
being entered or writ issued against the party insuring,
which said party insuring shall either appear in person,
or shall direct the clerk by an instrument in writing,