584

LAWS OF MARYLAND.

swer and defend, and be answered and defended,
in all courts of law and equity in this State or
elsewhere, to have, make and use a common seal,
and the same to break, alter and renew at their
pleasure, and shall have full power and authority
to make insurances on any kind of property,
against loss and damage by fire, to provide for
the keeping and investment of any funds or assets
that may become the property of the company,
and generally to transact, execute and perform
all such business as may appertain to a Fire In-
surance Company, not being contrary to this act,
to the constitution and laws of this State, or of

Proviso.

Membership.

the United States; Provided, however, that noth-
ing in this act shall be construed to grant bank-
ing privileges to the said company, or the right
to issue any note of the nature of a bank note.
SEC. 2. And be it enacted, That it shall be the
duty of the secretary of said company to keep a
book containing a copy of this act, and of such
constitution and by-laws of the said company as
may be established, and that all persons who
may wish to become members of the said com-
pany shall be required to express in writing at
the foot thereof their assent thereto, which ex-
pression of assent and the payment of such fees,
charges or premiums as may be demanded by the
proper officers of the corporation, shall constitute
such persons members of said company, and as
such shall be bound by all the rules and regula-
tions of said company as contained in this act,
and in the constitution and by-laws of the said
company, and every person or persons, or corpor-
ation, which shall be insured by this company
shall become members thereof as already provided
for.

Members may
withdraw.

SEC. 3. And be it enacted, That any member of
said company shall have full power to withdraw
therefrom at any time by applying to the proper
officer thereof, and paying such fees as may be
reasonably demanded, and any arrearages of as-
sessment that he may then owe to the company,
when the said proper officer shall cancel such
insurance or insurances as may be in the name
of the person so withdrawing and make a record
thereof in the books of the company, which shall
release such member, and any real estate that he