1845.

LAWS OF MARYLAND.

CHAP. 50.

for that purpose, and shall at any time hereafter insure
in or with this company or become annuitants, of the
same, shall be deemed and taken as members thereof, to
all intents and purposes during their legal continuance as
insurers or annuitants, and are hereby created a body po-
litic and corporate by the name and style of the Mutual
Life Insurance Company of Baltimore, and by that name
and style shall be capable of suing and being sued in any
court of law or equity, of purchasing, holding, improving
and conveying, any estate, real, personal or mixed, to
make, hare and use a common seal, and the same to
change or renewal pleasure; and generally to do every
other act or thing necessary to carry into effect this act,
or to promote the object and design of this corporation;
and if any member shall refuse or neglect to pay any
premium or dues for which he or she may be liable, at
the time and in the manner prescribed by the company,
he or she shall immediately thereon cease to be a mem-
ber of the same.

Powers of
company.

SEC. 2. And be it enacted, That the said company
shall have power and authority, by instrument under seal
or otherwise, to receive endowments of personal or mix-
ed property for a term of years in trust, to grant annui-
ties, to make insurances on lives, and all and every insur-
ance appertaining to life, to contract for reversionary
payments, to make all kinds of contracts in which the
casualties of life or the interest of money are involved,
to provide for the investment of the funds of the corpora-
tion in such manner as the company shall deem most safe
and beneficial, to determine and make dividends of the
profits, and generally to pass all such by-laws as may be
necessary to carry this law into effect, not contrary to the
laws of the United States or of this State, and from time
to time to repeal the same, and to make, execute and per-
fect, such and so many contracts, bargains, agreements
and other instruments, as shall or may be necessary, and
as the nature of the case shall or may require.

General meet-
ing of mem-
bers.

SEC. 3. And be it enacted, That there be a general
meeting of the members of the company on the first Mon-
day in January every year, or oftener if the board of di-
rectors for the lime being shall think fit, or if one-fifth of
the members, or if members representing twenty per cen-
tum in value of the policies or annuities, or both of them
granted or insured by the company and then in legal
force, shall in writing require the same, at which general
meetings all the members of the company shall have a
right and liberty to be present; of which meetings and of