THOMAS H. HICKS, ESQUIRE, GOVERNOR.

327

also one half of the interest on the cash advanced
as premium by him, her or them.

SEC. 14. And be if enacted, That at the expira-
tion of seven years from the date of the first poli-
cy, or soon as the nett profits shall exceed the
sum of twenty-five thousand dollars, a dividend
of the nett profits of the company shall he declar-
ed and distributed among the members, in pro-
portion to the amount and duration of their poli-
cies, and such dividend shall be made from time
to time in the discretion of the directors, and no
dividend shall be made at any time, which shall
reduce the amount of nett profits on hand, below
the sum of twenty-five thousand dollars, but said
sum may remain as active capital to meet losses ;
and the same may be increased in the discretion
of the directors by withholding dividends of the
surplus beyond said amount.

Dividends.

SEC. 15. And be it enacted, That all invest-
ments of interest money or cash paid in advance
as premium, shall be made in such manner as the
board of directors may direct.

Investments.

SEC. 16. And be it enacted, That the directors
shall annually publish in one or more newspapers
published in Queen Anne's county, a statement
showing the amount of premium notes, judg-
ments, and cash advanced, amount of losses in-
curred, expenses and nett profits.

To make state-
ment of amount
of premium
notes.

SEC. IT. And be it enacted, That no member
of this company shall be answerable for any losses
which may be sustained beyond the amount of
his premium note, or judgment, or cash advanced
by way of premium.

Liability.

SEC. 18. And be it enacted, That in any suit by
or against the said company, no member of the
corporation shall on that account, if he be not a
party to such suit or suits in his individual capa-
city be incompetent as a witness.

Competent wit-
ness.

SEC. 19. And be it enacted, That a general
meeting of the members of the company may be
called, in such manner and after such notice as
shall be prescribed by the constitution or by-laws,
at which general meeting the constitution or by-
laws may be repealed, changed or altered.

General meet-
ing.

Sec. 20. And be it enacted, That nothing in
this act contained shall be so construed as to au-
thorise the said corporation to issue any note,

Banking pri-
vileges forbid.