THOMAS SIM LEE, Efquire, Governor.

C H A P. XI.

1792.

An ACT fupplementary to an act, entitled, An act to erect and
eftablifh an infurance fire company in Baltimore-town, in Bal-

timore county, and for other purpofes.

Paffed De-
cember 23.

Beit enacted, by the General Affembly of Maryland, That fhares in the
Maryland infurance fire company may confift of the flock of the bank of
the United States, and three per cent, debt of the United States; that is
to fay, three fhares in the bank of the United States fhall conftitute four fhares
in the Maryland infurance fire company, and fo on in the fame ratio; and fix
hundred dollars three per cent, debt of the United States one fhare in the faid
Maryland infurance fire company, and fb on in the fame ratio.

Shares may
confift of
ftock, &c.

II. And be it further enacted, That the fhares of laid Maryland infurance
fire company, confifting of Maryland bank flock, United States bank ftock, fix
and three per cent, debt of the United States, fhall arid are hereby directed to be
transferred, at their refpective banks or offices, to the faid Maryland infurance
fire company, and the holders thereof fhall not be entitled, after due notice
given, to make the faid transfers to any dividend or profit from the faid Maryland
infurance fire company till the fame fhall be made as aforefaid.

And be trans-
ferred, &c.

III. Be it further enacted, That in cafe the redeemable part of the fix per
cent, debt afbrefaid be difcharged by the United States, either by a payment in
money, or certificates, bearing, if the latter, an intereft lefs than fix per cent, per
annum, the fame fhall be received by the Maryland infurance fire company, the
one or the other, as the ftockholders of the faid fix per cent, debt, with the con-
fent of the directors of the Maryland infurance fire company, may direct, and is
hereby declared to conftitute a part, and ftand in the place, of the original flock
fo paid by the United States.

Redeemable
part difcharg-
ed, fhall be
received, &c.

IV. Be it further enacted, That every ftockholder, or his legal reprefentative,
whofe flock confifts of Maryland bank flock, fhall and is hereby entitled to call
upon and receive from the prefident and directors of the faid Maryland infurance
fire company a certificate, under feal, and the fame to have renewed as often as
neceffary, fpecifying the fhares held by him in Maryland bank flock, which cer-
tificate, being produced to the Maryland bank, fhall entitle the faid ftockholder,
or his proxy, to vote in the faid bank in as full and ample a manner, on all occa-
fions, as if no transfer had been made of the fhares mentioned therein to the
Maryland infurance fire company, or as if the faid fhares were held in his own
name in the Maryland bank, any law, ufage or cutlom, to the contrary notwith-
ftanding.

Stockholders
may call on
the prefident,
&c.

V. Be it furhter enacted, That the faid Maryland infurance fire company
fhall and is hereby directed and enjoined to vote for fuch perfons as directors of
the bank of the United States, and on all other occafions, as a majority of ftock-
holders, holding fhares confifling of United States bank flock, may from time
to time direct.

Fire company
to vote as di-
rected, &c.

VI. Be it further enacted, That the prefident and directors of the faid Mary-
land infurance fire company are hereby ordered and enjoined to grant powers of
attorney to llockholders whofe fhares confift of United States bank flock, Ma-
ryland bank flock, fix, three, or other per cent, debt of the United States, ena-
bling them, their reprefentatives or attornies, to draw and receive their divi-
dends, or intereft due on their faid ftock, and payable by the banks afbrefaid, or
the United States, as the cafe may be; provided neverthelefs, that where no
power of attorney is demanded, the faid Maryland infurance fire company fhall
draw and receive the dividends or intereft accruing as aforefaid, and pay the fame
forthwith to whom it reflectively belongs; provided alfo, that the faid Maryland
infurance fire company fhall not be obliged to grant powers of attorney, unlefs
applied for thirty days previous to the day on which the aforefaid dividends or in-
tereft is declared due.

Prefident, &c.
to grant pow-
ers of attor-
ney, &c.