72

LAWS OF MARYLAND.

by assessors appointed as follows: The person whose
property is insured, shall have the privilege of select-
ing one disinterested person, the board of Directors
of this association, shall select another; should these
two persons disagree in their valuation of a loss, they
shall select another disinterested person — and the
award of a majority shall be final — and the Company
shall proceed to pay the same within sixty days.

Office located.

SEC. 14. And be it enacted. That the office, for
the transaction of the business of the Company,
shall be located within the following described limits
of the city of Baltimore, viz: North of German street,
East of Eutaw, South of Mulberry, and West of
Charles streets.

Transaction
open to the in-
spection of the
stockholders.

SEC. 15. And be it enacted, That the President
and Directors shall keep full, fair, and correct en-
tries of their transactions, which shall at all times,
be open to the inspection of the Stockholders; they
shall annually prepare a full, and true statement of
the funds, property, and securities of the Company,
showing the amount in real estate, in bonds and mort-
gages, in notes and securities, in public debt, and
other stock, the amount of debts due to, and from
the Company; which statement shall be certified by
the President and Secretary.

Authorised to
purchase buil-
ding.

SEC. 16. And be it enacted, That the President
and Directors, shall have power to hire, or purchase
a suitable building or buildings, within the limits
aforementioned, for the purpose of transacting the
affairs of the institution, and generally conducting
the business thereof.

Individual
property not
responsible.

SEC. 17. And be it enacted, That no stockholder
or member of this association, shall be answerable
in his person or individual property, for any contract
or agreement of said association, or for any losses,
deficiencies, or failures of the capital stock of this
Company, but the whole of said capital stock, to-
gether with all property, rights, and credits belonging
thereunto, and nothing more, shall at any time, be
answerable for the demands against said Company.

Stock trans-
ferable.

SEC. 18. And be it enacted, That the stock of
this institution may be assigned, and transferred, on
the books of the Company, in person or by power of
Attorney only; but no stockholder indebted to the
Company, shall be permitted to make a transfer, or
receive a dividend until such debt is paid, or secured
to the satisfaction of the President and board of Di-
rectors.