|
|
CHAP. 213.
|
as may be demanded by the president and directors of
the company, and the cancelling of the insurance on
insurances for which they were given as premiums,
under such regulations as the said president and di-
rectors may establish, and in rase of refusal or ne-
glect to pay such notes or evidences of debt, either
wholly or in part, whenever and as often as may be
demanded by the president and directors of the com-
pany, the said president and directors may proceed to
collect the same, or any part thereof, in the same man-
ner as in the foreclosure of a mortgage on real estate,
the said notes or evidences of debt to be held and
deemed as a mortgage on such real estate.
|
|
|
|
First board of
directors.
|
SEC. 5. And be it enacted, That Peter W. Gibbins,
Thomas J. Welsh. James L. Ridgley, Lemuel Offutt,
Robert M. Denison, Frederick Harrison, Edward J.
Worthington, John T. Ford, Jonathan Tracy. William
Curtis, William H. Hoffman, Jacob M. Hampshire,
Pleasant Hunter, William Rowe, Thomas H. Mat-
thews, Edward Rider, George M. Hiss, Charles A.
Buchanan, John B. Pearce, Joseph G. Dance, Walter
T. Allender, Thomas Gorsuch, Carvil Stansbury, and
Thomas S. Jones, are hereby created directors of the
said Mutual Fire Insurance Company, in Baltimore
county, until the first Monday in eighteen hundred
and fifty one, and until their successors shall be
elected, as hereinafter provided for, and such of them
as shall be present at the first meeting, shall proceed
to organise the company by electing a president and
secretary thereof, and as soon thereafter as practicable,
adopt a form of constitution and bye-laws, to provide
the necessary books, and otherwise prepare the com-
pany for the transaction of business, and when so
prepared, to exercise a general superintendence of the
affairs of the company, and the board of directors
above named, and any other board of directors that
may be hereafter elected, as hereinafter provided for,
shall have authority to allow any officer or officers in
the employ of the company, such salaries, fees, or
compensation as they may deem proper, and all offi-
cers of the company, other than directors, shall be
appointed annually by such directors as shall be pre-
sent at the first meeting of the board after the annual
election of directors, and in case of any vacancy or
vacancies occurring in the board of directors, at any
time or times, from any cause whatever, such vacancy
or vacancies shall be filled by the remainder of the
board, until the time of holding the next annual elec-
tion.
|
|
