JOHN WALTER SMITH, ESQ., GOVERNOR.

518

May of each year, and they shall elect from their number out
of the stockholders, at the first meeting of the board after
their election, a president, and shall also have power to elect
from their number, or otherwise, a vice-president and a treas-
urer and secretary, and such other officers, clerks and agents as
the business of the corporation may require; all elections for
directors shall be by ballot, and every stockholder shall be
entitled to one vote for each share of stock held by him, but
no person shall be eligible as director who is not a stockholder
to the amount of ten shares. At any annual or special meet-
ings a quorum shall consist of stockholders holding at least a

CHAP. 358.

President
and other
officers
elected.

majority of the capital stock. Ten days' notice shall be given
by publication in two newspapers published in Baltimore city
of the time and place of the annual election, which election
shall be conducted by the stockholders to be named previously
by the directors from the stockholders, one of whom shall be
designated to act as judge, and the other two as inspectors.

Notice of
election to be
given.

SEC. 6. And be it further enacted, That the board of
directors shall make all by-laws necessary for conducting the
business of the corporation, which by-laws shall at all times
be accessible to the stockholders of the corporation; the said
directors shall have power by a vote of the majority of their
number at any meeting of the board to change the name of
the said corporation; provided, the said change shall be
ratified by a majority in amount of the stock of the company
at a meeting to be held for that purpose, and upon filing in
the clerk's office of the Superior Court of Baltimore City a
certificate of the change of the said name, signed by the
president and secretary, the said corporation shall have, hold
and enjoy all the rights, powers and privileges and immunities
hereby granted; the directors shall have power to require
payment of subscriptions to the stock of the corporation at
such times and in such amounts as they may deem proper, the
said assessment to be made in such manner and with such
penalties for non-payment of such assessments as the by-laws
of the corporation shall provide.

SEC. 7. And be it further enacted, That this Act shall take
effect from the date of its passage.
Approved April 8, 1902.

CHAPTER 360.
AN ACT to repeal an Act entitled an Act to preserve the
streets and protect the property-rights of citizens of incor-
porated towns of Montgomery County, passed at January
Session, 1900, Chapter 476, and to re-enact the same with
amendments.
38

By-laws to be
made.