424

LAWS OF MARYLAND.

long as the original holder is indebted to the Com-
pany, but the amount thereof or so much as may
be due, may be offset by the directors against,
such indebtedness, and any judgment obtained by
the Company against the person so indebted, shall
create a lien on any certificate he or she may hold,
to the amount of such judgment and the interest
of the holder, may be taken on execution and sold
by the Company, in the same manner as other
personal property.

In case of Ioss
the first year.

SEC. 18. And be it enacted, That if a loss shall
occur under any policy, during the first year of
the existence of said policy, no profits shall be
due or payable to the claimant of the sum insured,
although a certificate of profits may have been
made, but the same shall be vacated by death or
loss by a fire, within the first year as aforesaid.
and the amount of said certificate shall be carried
to the contingent fund; but in all cases where two
or more certificates of profits shall have been de-
clared and made upon any policy, the same shall
be due and payable at the same time, with the sum
insured as provided by this act, but subject to de-
duction of any amount chargeable thereon, for
losses subsequent to the date thereof.

Statement of
affairs to be ex-
hibited.

SEC. 19. And be it enacted, That every member
of this Company, shall at all times have access to
the books and records thereof, and the directors
shall whenever required by the Legislature, lay
before them a statement of the affairs of said
Company; in case of any suit against or in favor
of said Company, and courts of record may, by a
proper order, compel the production of its books
and records, and any member thereof may prose-
cute and maintain a suit at law or in equity,
against the said Company, and may also, if not
individually a party to any suit brought by or
against the said Company, be admitted to testify
as competent witnesses therein.

Reservation.

SEC. 20. And be it enacted, That this act shall
at all times be liable to be amended, altered or re-
pealed at the pleasure of the Legislature.

In force.

SEC. 21. And be it enacted, That this act shall
take effect from the day of its passage.