1852.

LAWS OF MARYLAND.

CHAP. 322.

before some officer competent to take the acknowledg-
ment of deeds, and record the same in the office of the
clerk of circuit court of the county in which the busi-
ness of the company shall be carried on, of of the clerk

of the Superior Court of Baltimore city, in case the
business of said company be carried on in said city,
a certificate in writing, in which shall be stated the cor-
porate name of said company, the corporate name al-
ways to include the name of the county or City In
which the business is carried on, the amount of the
capital stock of the said company, the term of its ex-
istence, not to exceed fifty years, the number of shares

of which the said slock shall consist, the number of
trustees, directors or managers, and their names, who
shall manage the concerns of the said company for the
first year, and the name or names of the county or city
in which operations of the said company are to be car-
ried on.

Body politic
and corporate
by name stat-
ed in certifi-
cate.

SEC. 2. And be it enacted, That when the certificate
shall have been recorded as aforesaid, the person or
persons who shall have signed and acknowledged the
same, and their successors, shall be a body politic and
corporate, in fact and in name, by the name stated in
such certificate, and by that name shall have succes-
sion, and shall be capable of suing and being sued in
any court of law or equity in this State; and they and
their successors may have a common seal, and may make
and alter the same at pleasure; and they shall by their

corporate name, be capable in law of purchasing, hold-
ing and conveying any real and personal estate what-
ever, which may be necessary to enable the said com-
pany to carry on their operations named in such certifi-

Provisoes.

cate; Provided, that no company incorporated under
this act shall bold more than five thousand acres of
land at any one time; And provided further, that the
capital stock of said company shall not exceed the sum

of two millions of dollars.

Affairs — how
managed.

SEC. 3. And be it enacted, That the stock proper-
ty and concerns of such company, shall be managed
by not less than four, nor more than sixteen trustees,
directors or managers, who shall respectively be stock-
holders in such company, and citizens of the United
States, who shall except, the first year, be annually
elected by the stockholders, at such time and place as
shall be directed by the by-laws of the company, and
public notice of the times and place of holding such
election, shall be published not less than ten days pre-
vious thereto, in the newspaper printed nearest to the
place where the operation of the said company shall be
carried on; and the election shall be made by such of