THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1846.

when required by the directors, he shall forfeit his interest
in this company, and be held liable for his proportion of
any loss which may have occurred previous to such neg-
lect or refusal.

CHAP. 352.

SEC. 4. And be it enacted, That should any forfeiture
occur, it may be remitted by a majority of the board of
directors present at any meeting at which the motion for
such remission shall be made, upon the payment; by the
person incurring a forfeiture of the principal of such in-
stalment and interest thereon, up to the time of said pay-
ment; provided, that nothing herein contained shall be

construed to release such stockholder from the payment
of such instalment or instalments on such stock as has
not been paid (should a loss or losses greater than the
amount paid, in have occurred) in proportion to such
loss.

Forfeitures
may be remit-
ted.

SEC. 5. And be it enacted, That each fire company in
the city of Baltimore shall be entitled to subscribe by
itself for its own use, in its corporate capacity, or by

means of trustees, for the use of said company for two
hundred shares of stock, and the members of each fire
Company shall be enlitled to subscribe for five hundred
and fifty shares of stock; provided, that any part of the
two hundred shares reserved for the fire company which
may not be subscribed for by said company at the expi-
ration of one year, may be subscribed for by the indi-
vidual members of said fire company.

Fire compa-
nies may sub-
scribe.

Proviso.

SEC. 6. And be it enacted, That the Baltimore United
fire Deparment shall be entitled to subscribe by itself
for Us own use, in its corporate capacity, or by means
of trustees, for the use of said department, for seven
hundred and fifty shares of stock; provided, that any
number of the seren hundred and fifty shares reserved
for said department, which may not be subscribed for at
the expiration of one year, may be subscribed for by the
individual members of the fire companies of the city of
Baltimore, under such regulations as may be determined
on by the directors.

May subscribe
by itself, &c.

Proviso.

SEC. 7. And be it enacted, That so soon as five thou-
sand shares shall be subscribed for, the company shall be
competent to transact all kinds of business for which it is

established.

When shares
are subscribed
company to
act.

SEC. 8. And be it enacted, That each fire company
shall open books of subscription for the capital stock of
the company hereby incorporated, on or before the first
Monday in June, eighteen hundred and forty-seven, and
shall deliver the said books and money paid on the sub-

Fire compa-
nies to open
books.