The citizen. (Frederick City, Md.) 1895-1923, 1906-05-04
rCHAPTER 31.1

ICitAE L fSIN Sls
&ACT TO repeal Sections A. .. 10
In "A of the Acts of the General
zsembly of Maryland, Chapter 11S.
Issed by the General Assembly of
hryland at the December Session,
IA AS amended by the Act of the
In Assembly. passed at the jan
sry Session, 1888, Chapter 81, and
A rp-euact the same with amend
|ents to be known as 4, 8 and 10,
Hating to the obtaining and filing
4 judgments on premium notes and
methods Of assessments.
|HEREAS 1t is represented to the
sral Assembly that the members
Ia Mutual Fire Insurance Company
Kent County. at a meeting called
lccordance with the eighth section
this charter, determined that it
Iesirablp for the company and for
community to have it's charter
hded: therefore be it enacted by
4 General Assembly of Maryland,
Sections 4. 8. IS and IA of the
|to incorporate the Mutual Fire In
|nce Company of Kent County
Bier llS passed by the General
fmbly of Maryland. at the Decem-
Session, a. d. 1854, and amended
Ihe Act of said General Assembly.
l.
the same are hereby repealed.
hded and re-enacted. so as to read
blows:
.ction 4. And be it enacted, That
|prOmissory notes. notes of hand,
Gher evidence of debt held by the
company. which have been given
may hereafter be given thereto
premiums of insurance. shall be
Ia for all losses and expenses of
and upon the failure of
Imakers of the same to pay such
s. either in whole or in part, as
be demanded by the president
directors of the company. the presi-
and directors of the company
proceed to collect the same by
process Of law.
elton g. At the end of each calen-
year. or earlier, at the option of
BOARD of directors. it shall be the
of the said board of directors
ascertain whether or not the in
of the company has been suffl-
The company. and in the event
the losses and expenses of the
pany have exceeded the income and
Plus fund of said company, and
per cent. of the premium notes
by the company, then the d.
prs shall assess upon all property
ers whose policies are more than
year old. not having sufficient to
credit Of their policies to meet
prOportionate part of such de-
ncy their proportionate part of
losses and expenses. and shall
notice of the same to such policy
FRS, and upon their failure to pay
Same sixty days from the time of
notice being issued, said directors
proceed to collect the same by
process of law. But the directors
not allow at any time the losses
expenses of the company to exceed
income and surplus fund to an
uht exceeding one per cent. of its
plum notes without making an
ssment upon its premium notes as
tofore provided for.
ctions 10 and IA. And be it en-
That in all cases where pro-
y may be insured under this Act,
r an assessment upon any policy
pc company has been made after
notice has been given. the party
red snail have sixty days to pay
assessment, and after the ex-
llon OF the said sixty days. in case
sald assessment has not been paid,
sald policy holder or policy holders
forfeit all benefit under his or
policy and the company shall not
lahle for any loss that may occur
er any of his or her policies. until
assessment or assessments have
tully paid. but such payment
DEFAULT shall reinstate the policy
olcies only from the time of such
nent and the company shall not
liable for any losses that may oc-
during the time of such default
y any of the policies of the said
ly holder or holders.
proved February 81. 1906.
EDWIN WAKEFIELD.
, Governor.
JOSEPH B. SETH.
President of Senate.
CARNILLE d. BENSON.
speaker OF House of Delegates.