PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1847.

above named, to fix their salaries, to approve the bonds
required from such officers, to prescribe the form and
penalty thereof, to fix the rate of insurance and to decide
upon all applications for the same, to prescribe the form
and amount of premium notes, according to the nature,
and greater or less hazzard of the property insured;

CHAP. 111.

provided, the same be not less than seven per centum on,
the amount of the property insured, to order and direct
all policies to be issued, which policies shall be signed
by the president and attested by the secretary; provided,
no policy shall be issued until persons holding proper-
ty to the amount of fifty thousand dollars of incurable
property, shall become members of this company, and
such company are hereby vested with all powers re-
quisite and proper to carry this act into effect; provid-
ed, the same be not inconsistent With the constitution
and laws of this State; and in case any vacancy shall
occur in the board of directors, from death, resignation or
any other cause, the board of directors shall supply such
vacancy or vacancies until the next annual election.

Provisoes.

SEC. 5. And be it enacted, That any person or per-
sons or body corporate may become members of this in-
stitution by insuring his, her or their property with the
company, and by paying in advance in cash, or by exe-
cuting his note, at his, her or their option, which note
shall be secured in the manner hereinafter prescribed,
for such premium as may be required by the board of
directors, not less than seven per centum on the amount
insured, according to the greater or less hazzard of in-
surance, the note to be executed to the Mutual Insurance
company of Allegany county, and to bear interest from
date, the interest thereof to be paid annually in advance,
at the rate of six per centum per annum.

Eligibility of

members.

SEC. 6. And be it enacted, That the the clerk of
the county wherein the property insured may be situa-
ted, shall be furnished with a docket by the Mutual

Insurance company, in which docket shall be entered
judgment by the person or persons or body corporate,
to the Mutual Insurance company of Allegany county,
for the amount of his, her or their premium note, with-
but a declaration being filed, appearance for the plaintiff
being entered, or writ issued against the party insuring,
which said party insuring shall either appear in person
or shall direct the clerk, by an instrument in writing,
signed by said party and attested by one witness, to en-

Clerk of coun-
ty court to
keep docket.

ter up judgment for the amount of his premium note,
which judgment shall be a lien upon his, her or their
real estate, and for said service the clerk shall receive

the sum of ten cents, to be paid by the insured, and no
policy shall be issued until such judgment be entered up.

Compensation.