1847.

LAWS OF MARYLAND.

CHAP. 212.
Duty of di-
rectors.

SEC. 4. And be it enacted, That the directors of this
company shall have full power to elect the officers above
named, to fix their salaries, to approve the bonds requir-
ed from such officers, to prescribe the form and penalty
thereof, to fix the rate of insurance, mid 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 hazard of the property insured;

Provisoes.

provided, the same be not less than seven per centum on
the amount of 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 property
in the amount of fifty thousand dollars of insurable pro-
perty shall become members of this company, and such
company are hereby vested with all powers requisite
and proper to carry this act into effect, provided, the
same be not inconsistent with the constitution and laws
of this State, and in case any vacancy stall 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.

Terms of ad-
mission to
membership.

SEC. 5. And be it enacted, That any person pr per-
sons, or body corporate may become members of this
institution 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 hazard of insu-
rance, the note to be executed to the Mutual Insurance
Company of Anne Arundel 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.

Clerk to be
furnished with
docket, and to
render judg-
ment without
the usual for-
malities.

SEC. 6. And be it enacted, That the clerk of the
county wherein the property insured may be situated
shall be furnished with a docket by the Mutual Insu-
rance Company, in which docket shall be entered a
judgment by the person or persons or body corporate, to
the Mutual Insurance Company of Anne Arundel county,
fat the amount of his, her or their premium note, without
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 parly and attested by one witness, to enter up jug-
ment for the amount of his premium note, which jug-