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other againft fuch loffes, and participating therein; and by thefe prefents we do
covenant, promife and agree, for ourfelves, feverally and refpectively, and for
our feveral and refpective executors, adminiftrators and affigns, to form, erect
and eftablifh, an office, fociety or company, by the name or ftyle of The Balti-
more Equitable Society for infuring houfes from lofs by fire, and to be and con-
tinue contributors unto, and equal fharers in, the loffes, as well as the gains and
advantages, arifing, accruing and happening, in, to and by the fame, upon the
terms, and according to the articles and agreements, and fubject to the provifoes
and conditions, hereinafter declared and expreffed. ARTICLE I. That all and
every perfon or perfons who have fubfcribed to thefe prefents, by him, her or
themfelves, or by his, her or their attorney or agent, and all and every perfon or
perfons who fhall hereafter in like manner fubfcribe hereunto, or fhall at any
time or times hereafter infure in or with this fociety, they, and alia their refpec-
tive executors, adminiftrators and affigns, being allowed to be and continue as
perfons infuring in the fame as herein after is mentioned and provided, fhall be
taken and deemed as members thereof, to all intents and purpofes, and be con-
cluded by the covenants and agreements herein contained, and fhall have and
bear his, her and their proportionable part and fhare of all the profits and ad-
vantages, as well as of all the loffes and charges, arifing in, from and by the
fame, for and during the terms in his, her or their refpective policies. ART. 2.
That the direction and management of this fociety, and all the affairs thereof,
from time to time, fhall be intrufted with, and committed to, twelve of the
members thereof, who fhall be called The Directors of the Baltimore Equitable
Society for infuring houfes from lofs by fire, and the faid directors fhall have
full power and authority to act and proceed therein as herein after is more parti-
cularly provided and expreffed; and it is hereby provided and declared, that no
director or directors now chofen and appointed, or hereafter to be chofen and ap-
pointed by virtue and in purfuance of thefe prefents, fhall have, take, receive or
be allowed, in any manner whatfoever, any ftipend, falary, gratuity, benefit,
profit or advantage whatfoever, for being a director, or for his fervices as fuch,
other than in common with the members of the fociety, and in proportion to his
or their refpective infurances, as herein after mentioned. ART. 3. That the di-
rectors of this fociety fhall always ftand indemnified and faved harmlefs by this
fociety for giving out and figning policies, and for all their other lawful acts,
deeds and tranfactions, done, performed and executed, in purfuance of, and by
virtue of, thefe prefents; and the flock, fecurities and effects, of the fociety,
fhall in the firft place be appropriated and applied, and the fame is and are here-
by declared to be appropriated, to exonerate, difcharge, indemnify and fave
harmlefs, them, and every of them, from all cofts, charges, damages, loffes
and expences, that fhall or may happen, be incurred or arife, or which they or
any of them fhall reafonably expend or fuftain in, for or concerning the trufts
aforefaid, or any of them, or the execution or performance thereof, nor fhall
any of the faid directors be anfwerable for the defaults, neglects or wrongs, of
the others, but refponfible only each for his own conduct. ART. 4. That the
limits of ipfurance fhall extend five miles round Baltimore, and as much further
as fhall from time to time be agreed on at the general meetings of the fociety;
provided that the proprietor or proprietors of all houfes to be infured that are
two miles, or any greater diftance, from the place where the office fhall be kept,
fhall defray the charge of the furveyor's journey to furvey the premifes, and fhall
alfo defray the charge of the director's journey to eftimate the lofs or damage,
when it fhall happen, and the directors are hereby empowered to deduct the
charges out of the money due on fuch lofs. ART. 5. That the infurancc to be
made by this fociety fhall be for feven years in each policy. ART. 6. That
there fhall be infured in one policy but one houfe and kitchen, except where a
ftable or coach-houfe, or both, ftand contiguous on the fame lot of ground with
the dwelling-houfe, and in fuch cafes each building fhall be diftinctly valued.
ART. 7. That no one houfe fhall be infured in this fociety for more than fifteen
hundred pounds, or fuch other fura as by the general meetings of the fociety
fhall be fettled and appointed; provided always the fum infured does not exceed
two thirds of the value of fuch houfe, and provided alfo that no more than
five hundred pounds be in any one policy. ART. 8. That no fugar-houfie,
brew-
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CHAP.
XXXIX.
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