The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1868-06-26

all such other works in said town or city
as shall be necessary or suitable to carry
out the purposes of said corporation, pro-
vided, the assent of the municipal author
tiles of the said town or city be first ob
tanned and all such works and the ex-
ercise of the powers hereby granted, shall
at all times be subject TO such reasonable
regulations as said municipal authorities
may from time to time prescribe
Sec. 95. And be it enacted, That if any
corporation formed for the purposes men,
toned in the next preceding section, can
not agree with the owner or owners OF
any land or water.righis which said corpo-
ration. may have power TO acquire for the
purpose of laying pipes or constructing
its works, or if such owner or owners, or
any of them be feme couert, without
power to contact in relation to said prop
erty, or under age, or non compos mentis,
or under any other legal disability, or be
absent from the county or city in which
the said property may lie when the said
land or water rights may be needed, the
corporation may proceed to condemn and
acquire the same in the manner provided
for in sections 40, III, l72, 173, ia,
IT'S, of this Article.
Sec. 90. And be il enacted, That the
capital stock of any insurance company
incorporated under this Article shall not
exceed the sum of two millions of dol
lars, and except in the case of mutual in
surance companies, shall not be less than
one hundred Thousand dollars, and at least
one fifth Of the whole capital stock shall
be paid in before the said company shall
be competent to transact the business for
which it shall have been incorporated.
Sec. 81. And be it enacted, That any
corporation incorporated under this Arti-
Gle for insurance purposes, except for the
insurance of the lives of persons,
is hereby authorized to include in its GER
ti6cale of incorporation, as among the
other objects and purposes for which said
corporation is formed, the following, that
is to say To guarantee the payment,
punctual performance, and collection of
promissory notes, bills of exchange, con-
tracts, bonds, accounts, claims, rents, an
nuities, mortgages, chooses in action, evil
dences of debt, and certificates of proper.
ty or value, and the titles to property, real
or personal, on such terms as may be es-
tablshsd by the Board Of Directors of said
company, to receive on storage, deposit or
otherwise, merchandise, bullion, specie,
plate, stocks, bonds, promissory notes,
certificates and evidences of debt, con-
tracts or other property, and to take the
management, custody and charge of real
or personal estate or property, and to adj
vance money, securities and credit, upon
any property, real, epersonal or mixed, on
such terms and with all such powers of
sale, and other disposition thereof as shall
be established by the charter or bylaws
of such corporation; provided, that the
corporate title of any company having
among its other purposes those enumera-
ted in this section shall designate the same
as a security, as well as an insurance COM
pany, as'' ,''
Sec, So. And be it enacted, That cor
porations formed under the provisions of
this Article for insurance purposes, may
be formed either as mutual or stock COM
panies, or as mutual and stock companies
combined, as shall be determined and de-
clared in the certificate of incorporation of
said company. $3.50. I'D"
Sec. SO. And be 1t enacted, That every
corporation formed under the provisions
of this Article for the purposes of life in
surance, is hereby authorized also to in
sure individuals against accident, and to
grant, purchase or dispose of annuities,
unless it be otherwise provided in its char.
ter or bylaws, r,..-....,,.. '.7'
!, Sec. 100. And be it enacted, That ev-
cry life insurance company incorporated
under this Article shall have guarantee
capital OF not less than one hundred
thousand dollars, which shall be invested
either in securities of the United States,
of the State of Maryland, or of the city
of Baltimore, and the same shall before
said company shall commence issuing pol
icies, be deposited in the Treasury of this
State, as guarantee for the payment of
the policies of insurance issued by said
company; and the said company, from
time to time, as they shall deem proper,
may sell and dispose of the said securi-
ties, and exchange and re-deposit the same
W tn the said Treasurer, under such rules
and regulations for said exchange and re-
deposit, as the said Treasurer shall direct,
the said company combining the said bust.
ness of sale, disposition and exchange of
said securities, to either or all of said Sc
curities abovenamed in this section; and
the interest and profits accruing, and made
on said securities, and the sale or exchange
thereof shall be collected by and paid to
said company. . ..... {,
Sec. lOl. And be it enacted, That any
married woman, by herself and in her
name, or in the name of any other person,
with mis- assent, as her trustee, may insure
in any life insurance company formed un-
der the provisions of this Article for her
sole use, the life of her husband, for any
definite period, or for the term of his nat
ural life, and in case she shall survive her
husband, the sum OR net amount of the in.
surance becoming due, and payable by
the terms of the insurance, shall be paya