THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1846.

vantages of the institution, in proportion to the amount
of stock held by such company.

CHAP. 352.

SEC. 12...And be it enacted, That the affairs of this
company shall be managed by a president and a board of
directors, all of whom shall be stockholders, to be elect-
ed as follows: one from the Baltimore United Fire De-
partment; provided, said department is, and continues to
be a stockholder to an amount not less than two hundred
shares, one from each fire company; provided, each fire

company, together with the stockholders in said compa-
ny hold, and continue to hold, an amount of stock not less

than two hundred shares; and the president and direc-
tors previous lo entering on the duties of their respective
offices, shall take the following oath or affirmation: I, A.
B, do swear, or affirm, as the case may be, that I will
faithfully, diligently, impartially and honestly fulfill the
duties of my office of ———— , to the best of my know-
ledge and ability.

Managed by a
president and
board of direc-
tors.

Proviso.

SEC. 13. And be it enacted, That no director of any
other fine insurance company shall be allowed to be of
a director in this; and should any director ot this com-
pany be elected a director of any oilier fire insurance

company, his acceptance of that appointment shall ipso
facto, disqualify him from continuing a director in this
company, and Ihe company from which such direct of
shall have been delegated, shall proceed to till the vacan-

cy within thirty days after notice of said vacancy from
the president of this company.

No director

of any other
fire insurance
company to be

a director in
this.

SEC. 14. And be it enacted, That the Baltimore United
Fire Department, and the respective companies compos-

ing this association, who may be entitled to the election
of a director, shall hold separate meetings for the election
of directors, within thirty days after the aforesaid amount
of five thousand shares of stock shall have been sub-
scribed for, and on the second Monday in January, in
each and every year thereafter, and choose by ballot
from among their members one director; in the election
of a director from the Baltimore United Fire Department,
each fire company in said department shall have one vote,
and a majority of the companies present, shall be neces-
sary to a choice; the directors from the fire companies
shall be members of the company which they are dele-
gated to represent, and in their choice, each company
being a stockholder, and each individual stockholder
shall have one vole, and the person having the highest
number of voles shall be the director elect; the directors
so chosen, shall serve until the second Monday in Janu-

Hold separate
meetings.