1846.

LAWS OF MARYLAND.

CHAP. 352.

Provisoes.

scription to the board of directors, so soon as they shall
be appointed and prepared to receive the same; provided,
that the neglect or refusal of any fire company to open
books shall not invalidate this charter; and provided fur-
ther, that the directors may at any time cause books to
be opened to receive the subscriptions of the company or
individual members of the company which may have re-
fused or neglected to open books of subscription.

No person
other than a

member of a
fire company
to purchase or
hold stock.

SEC. 9. And be it enacted, That no person other than
a member of a fire company in the city of Baltimore,
shall be entitled to purchase or hold any part of the ca-

pital or joint stock of this company, and the share or
shares of a stockholder ceasing to be a member of a fire
company, if not transferred to a member of a fire com-
pany, to a fire company, or to the Baltimore United Fire
Department within sixty days alter said stockholder shall
have ceased to be a member of a fire company, shall not
be entitled to any portion of the profits of this company
after the expiration of said sixty days; neither shall the
purchaser of said stock be entitled to any portion of the
profits of this company between the time of the expira-
tion of said sixty days and the date of purchase.

Two years al-
lowed execu-
tors to dispose
of the same.

SEC. 10. And be it enacted, That two years shall be
allowed to the executors or administrators of any de-
ceased stockholder in this company to dispose of the
same, at the expiration of which time, the stock so held,
shall be transferred to a member of a fire company, or
to the Baltimore United Fire Department; provided, that
a member of a fire company may hold in trust for the
benefit of the widow or children of any deceased stock-
holder, such stock as may have been held by the de-
ceased at the time of his death, but on arrival at age of
said children, they must become members of a fire com-
pany; a neglect or refusal to do which for sixty days
shall debar them, and the purchaser of said stock from
any share in the profits in this company during the time
it may have been held after the expiration of said sixty
days, and the day of its sale and transfer to a person or
corporation duly qualified to hold stock in this company.

Members en-
titled to effect
insurance.

SEC. 11. And be it enacted, That every member of a
fire company in the city of Baltimore shall be entitled to
effect insurance at a discount of live per centum less than
other persons, upon producing to the satisfaction of the
directors a certificate of his right of membership, and all
the companies associated, or who may hereafter associate
under this act within the city of Baltimore, shall be en-
titled to an equal participation in all the benefits and ad-