THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1846.

CHAPTER 200.

A suplement to an act entitled, an act to Incorporate a

Mutual Fire Insurance Company in Cecil County.

CHAP. 200.

Passed March
6, 1847.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the managers of the Mutual Fire Insu-
rance Company of Cecil county, incorporated by the
act to which this is a supplement, shall have full power
and authority to deposit in some convenient bank or sa-
vings institution, any sum or sums of money which may
accumulate in their hands by the payment of interest on
premium notes or otherwise, and to receive such interest
on said deposits as may be allowed by said bank or sa-
vings institution, and the same to withdraw according to
such terms of deposit as may be agreed upon at the time
of making thereof; provided, that no place of deposit
shall be selected, and no deposit once made, removed,
except by a vole of two-thirds of the members of the
board, and upon written order or resolution duly passed
by the board, and subscribed by at least six of the mem-
bers thereof.

Deposit sums
of money.

Proviso.

SEC. 2. And be it enacted, That the managers of the
said Mutual Fire Insurance Company shall have power
to fix and ordain certain fixed premiums, for such differ-
ent classes of buildings and risks as may be offered for
insurance, and at higher tales than one and a half per
centum upon the amount insured, and by their by-laws to
make all regulations for the increasing or diminishing of
the rate of premium as occasion and experience may
make necessary.

To fix and or-
dain certain
fixed premi-
ums.

SEC. 3. And be it enacted, That the said Mutual Fire
Insurance Company shall have power to make insurances
upon property in either of the adjoining counties of this
State, or in either of the adjoining States of Pennsylvania
and Delaware, and that any and all citizens of said ad-
joining counties in this State, and of the said adjoining
States of Pennsylvania and Delaware, who may obtain
policies in said insurance company shall thereby become
members thereof, and entitled to all the privileges of
members.

Have power to
make insuran-
ces on proper-
ty, &c.

SEC. 4. And be it enacted, That the said Mutual Fire
Insurance Company of Cecil county, shall be exempt
from the provisions and penalties of the act of December
session, eighteen hunched and forty-five, chapter three
hundred and sixty-six, for five years from the passage of

this act.

Exempt from
the act of 1845
ch. 366.