LAWS OF MARYLAND.

1843.

Sec. 21. And be it enacted, That in case any person
or persons entitled to interest on certificates of stock, or
of profits, or to a certificate of profits, shall be indebted
to the company for sums first due and unpaid, the com-
pany may at its option withhold the interest or ceitificates
or both, and deduct such sum or sums from the amount
thereof, or reduce or cancel the same, and for any debts
due by any holder or certificates of stock or of profits to
said company, the company shall have a lien on all the
interest of said debtors in said company and its profits,
but persons insuring or entitled to ceitificates shall not be
answerable by reason thereof, or of any thing contained
herein, except for the payment of their premiums, or other

chap. 297.

Persons enti-
tled to interest
on stock, ike.
and indebted,
company may
withhold, &c.

notes given in advance for premiums.
Sec. 22. And be it enacted, That it shall be lawful
for said company from time to time to divide such part'
of the interest accruing on its investments as it may deem
equitable not exceeding six per cent per annum, to and
among the holders of the certificates of profits, or in
case of losses, to declare a pro rata deduction of the
amount of the outstanding certificates of profits, ori-
ginal certificates of profits may be called in by the com-
pany and new ones issued in their stead less the proper
reduction; all certificates and interest in the company

Company may
divide interest
accruing on its
investments.

shall be deemed personal property.
Sec. 23. And be it enacted, That on the thirty-first
day of December eighteen hundred and forty-five, or
within two weeks thereafter, and on the thirty-first day
of December, or within two weeks thereafter of every
subsequent year, the company shall cause to be made a
general balance statement of its affairs to the end of
each year, which shall be printed by the company, and a
copy thereof shall be delivered to each member on re-
quest by such member said statements shall contain; first,
the amount of premiums received during the year; second,
the amount of expenses of the company during the year;
third, the amount of losses incurred during the year;
fourth, the amount of premium notes held by the compa-
ny on risks not terminated; fifth, the amount of losses
claimed against said company, not yet adjusted or paid;
sixth, the balance remaining with said company; seventh,
the nature of the security in which the same is invested,
specifying the amount and nature of each security; the
first statement shall include the affairs of the company up
to the thirty first December, eighteen hundred and
forty-five inclusive, and the subsequent statements shall
each include a single year.

Company to
cause to be
made a gene-

ral balance
statement to
the end of the
year.