THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1846.

Chappel, Samuel Moore, Doctor Alexander F. Donlin,
John Brice, Charles Wyeth, Charles R. Gwynn, David
U. Brown, Elisha N. Brown, Henry Berry, Joseph
Wilkins, Richard H. Battee, Samuel Addison, Joshua
Royston, J. H. Keene, John Easter of John, David
Martin, their associates and successors, are hereby made
a corporation, by the name of the Equitable Life Insurance
Company of Baltimore, and by that name and style shall
be capable of sueing and being sued in any court of law
or equity in this State, or the United States; of making
and having a common seal, and of breaking, altering and
renewing of the same at their pleasure; and of ordain-
ing and establishing such by-laws, ordinances and regu-
lations as may appear necessary for regulating the con-
cerns of the said corporation, and may not be contrary
to this act, or to the constitulion and laws of this State,

or of the United States.

CHAP. 282.

SEC. 2. And be it enacted, That the corporate powers
of said company shall be exercised by a board of trus-

tees, and such officers and agents as they may appoint;
that the board ot trustees shall consist of twenty-four
persons, all of whom must be citizens of this State ;
that they shall elect a president annually, who shall be a
member of this corporation; and they shall have power
to declare by law what number of trustees, less than a
majority of the whole, but not less than eight, shall be a
quorum for the transaction of business.

Board of trus-

tees.

SEC. 3. And be it enacted, That the persons named in the
first section of this act, shall constitute the first board of
trustees.

First board.

SEC. 4. And be it enacted, That the trustees shall, at their
first meeting, divide themselves, by lot, into three classes
of eight each: the term of. the first class shall expire at
the end of one year, the term of the second class shall
expire at the end of two years, the term of the third class
shall expire at the end of three years, and so on succes-
sively, each and every year; that the seats of these
classes shall be supplied by the members of the corpo-
ration, a plurality of votes constituting a choice; that
the board of trustees shall fill any vacancy that may oc-
cur, until the next ensuing annual election; that nothing
in this section shall be so construed as to prevent a trustee

going out from being eligible to re-election.

Divide by lot

into classes.

SEC. 5. And be it enacted, That annual meetings shall be
held by the members of this corporation for the choice
of trustees, and for any other business that shall come
before them, on the first Monday of May, in each year;

Annual meet-
ings.