234

LAWS OF MARYLAND.

CHAPTER 192.

Passed
Mar. 10, 1854.

AN ACT to incorporate the Neptune Mutual Insurance
Company of Baltimore.

Corporators.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That C. Oliver O'Donnell, Samuel
Fenby, James Carey Coale, Galloway Chester, Horatio
Whitridge, B. M. Corner, William H. Fraizier, James
A. Hooper, G. W. Lurman, David Stewart, John C.
Brune and Francis T. King, their associates and suc-
cessors, are hereby made a body politic and corporation,
to be called and distinguished by the name of the Nep-
tune Mutual Insurance Company of Baltimore, and by
that name shall have succession, and shall be able to
sue and be sued, plead and be impleaded, in all courts
of law and equity in this State and elsewhere, and to
make and have a common seal, and the same to break,
alter and renew at pleasure.

Powers con-
ferred.

SEC. 2. And be it enacted, That in addition to the
general powers and privileges of a corporation, the cor-
poration hereby created shall have full power and au-
thority, by instruments under seal or otherwise, first,
to make insurances on vessels, merchandise, freight,
specie, bullion, commissions, profits, bank notes, bills
of exchange, and other evidences of debt, bottomry ad
respondentia interests and all other personal property, at
sea, on land or water, or connected with risk of convey-
ance by sea, land or water, and to lend money on bot-
tomry and ad respondentia interest; second, to make
insurance on dwellings, houses and stores, and all kinds
of buildings, and upon household furniture, merchan-
dise or other property, against loss or damage by fire,
and generally to transact all business, enter into all
contracts, and take all security for and relative to the
objects aforesaid, and to cause said company to be re-
insured, when deemed expedient, against any risk or
risks on which it may make insurance.

Board of di-
rectors.

SEC. 3. And be it enacted, That the persons named
in the first section of this act, are hereby constituted and
appointed a board of directors of said company, until the
first election of directors as hereinafter provided for, shall
take place; and that it shall be the duty of said direc-
tors or a majority of them, at their first meeting, to begin
the organization of said company, by the appointment
of a president, vice president and secretary, and that