THOMAS H. HICKS, ESQUIRE, GOVERNOR.

317

signation or disqualification of a director, the
stockholders shall proceed to elect another to fill
such vacancy, for the remainder of the year.

SEC. 10. And be it enacted, That the President
and directors, shall be and they are hereby autho-
rised, to make all kinds of insurance against loss
or damage by fire, within the limits of the city of
Baltimore and State of Maryland only, and gene-
rally to transact and perform all business relative
to the objects aforesaid, and also to invest the
capital and funds of the Company from time to
time, in well secured stocks, and otherwise to dis-
pose of the money and property of the Company, in
such manner (not being contrary to law,) as to them
shall appear most advantageous to the Company.

Authorised
to make insur-
ance.

SEC. 11. And be it enacted, That the president
and directors, shall declare dividends of the profits
of the corporation, semi-annually, or so much
thereof as to them shall appear advisable, and in
case of any loss or losses, whereby the capital
stock of the Company shall be lessened, no subse-
quent dividend shall be made, until a sum equal
to such diminution, and arising from the profits
of the Company, shall have been added to the
capital.

May declare
dividends.

SEC. 12. And be it enacted, That every house
insured by this Company, that is destroyed by
means of fire, from the first floor upwards, shall
be deemed as demolished; and it shall be lawful
for the directors in such case, to order the money
insured thereon, to be paid within thirty days
after the notice given of the loss as aforesaid.

Insurance to
be paid within
thirty days.

SEC. 13. And be it enacted, That in case of a
partial destruction by fire, the loss shall be de-
termined by assessors appointed as follows: the
person whose property is insured, shall have the
privilege of selecting one disinterested person, and
within ten days thereafter, 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 from the date of said award.

In case of par-
tial destruction
award how to
be determined.

SEC. 14. And be it enacted, That the office for
the transaction of the business of the Company,

Office located.