THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1845.

use of themselves or the company or companies to which
they belong, may subscribe for an amount of stock not
to exceed three thousand seven hundred shares for each
company.

CHAP. 372.

SEC 8. And be it enacted, That if any fire company,
or the Baltimore United Fire Department, shall neglect
or refuse to subscribe for the number of shares allotted to
each, within the space of three years from the time the
books may be owned for subscription, the residue shares
between the amount of their subscription and the said
allotment, may be subscribed for and taken by the other fire
companies, or by the Baltimore United Fire Department,
in equal portions to each, or in such manner as the direc-
tors may appoint.

Failure of Fire
companies to
subscribe, &c.

SEC. 9. And be it enacted, That if the active members
of any fire company shall neglect or refuse to subscribe
for the number of shares allotted to each, within the space
of one year from the time the books may be opened for
subscription, the. residue shares, between the amount of
their subscription and the said allotment, may be sub-
scribed for and taken by the active members in other fire
companies, in equal proportions to each company, or in
such manner as the directors may appoint.

Failure of ac-
tive members
to subscribe.

SEC. 10. And be it enacted, That no person, other
than an active member of a fire company, shall be enti-
tled to purchase any part of the capital or joint stock of
this association, and that no person other than an active
or honorary member of a fire company, which honorary
member shall have served as an active member of a fire
company, in the city of Baltimore, for a period of seven
years after the passage of this act, shall be entitled to
hold any part of the capital or joint stock of this associ-
ation.

None but ac-
tive members
of fire compa-
nies can sub-
scribe.

SEC. 11. And be it enacted, That any active member
of a fire company may hold in trust, for the benefit of the
widow or children of any deceased stockholder, such
stock as may have been held by the deceased at the time
of his death, but on the death of the widow, or on arri-
val at age of the said children, such stock must be sold
to one or more active members of a fire company.

Member may
hold stock in
trust.

SEC. 12. And be it enacted, That the share or shares
of a stockholder ceasing to be a member of a fire compa-
ny, shall be purchased at their actual value, by the com-
pany to which the said stockholder belonged, or by the
members thereof for their own use or for the benefit of
said company, or by the board of directors of this associ-
ation, and may be disposed of by them for its benefit;

Shares of a
member taken
at actual value.