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CHAP. 154.
President and di-
rectors to make
by-laws, &c.
Stockholders from
time of their first
meeting declared
to be incorporated
To procure and
deliver printed
certificates for
shares, held.
Powers of presi-
dent and directors.
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directors shall thereafter be made; and the said stockholders shall
and may, on the first Monday in June next, and on the first Mon-
day in June in every year thereafter, elect, by ballot, from among
the stockholders, seven persons as directors, and the president and
directors for the time being, shall give public notice for a new elec-
tion at least ten days previous to the expiration of the time for
which they were elected; and in case it should so happen that an
election of the directors should not be made on the first Monday in
June in every year as aforesaid, pursuant to this act it ought to
have been made, the said corporation shall not for that cause bo
dissolved, but it shall be lawful on any other day to hold and
make an election of directors in such manner as shall be regulated
by the by laws or ordinances of the said corporation; and in case of
death, resignation, or removal out of the county, of a director, the
said directors shall elect another person to supply such vacancy
for the remainder of the year; and in every election for directors
each stockholder shall be entitled to one vote for every share by him
or her held.
4. And be it enacted, That the said president and directors shall
be authorised to make such by laws, rules, orders and regulations,
not inconsistent with the laws of this state or those of the United
States, as shall be necessary for the well ordering and directing
the affairs of the said company, and also to appoint a trustee
during their pleasure, who before he proceeds to act as such, shall
give bond, with approved security, to the president and directors,
in such sum as they shall appoint, with condition for the faithful
discharge of the duties of the. trust reposed in him.
5. And be it enacted, That the said stockholders, and their suc-
cessors, from the time of their first meeting before mentioned, shall
and are hereby declared to be incorporated, by the name of The
Rising Sun Bridge Company, and by that name may sue and be
sued, implead and be impleaded, answer and be answered unto, in
any court of law or equity in this state, and may make, have and
use, a common seal, and the same alter at pleasure.
6. And be it enacted, That the president and directors first to be
chosen as aforesaid, shall procure certificates to be printed for all
the shares of stock of the said company, and shall deliver one such,
certificate, signed by the president, and countersigned by the trea-
surer, and sealed with the seal of the corporation, to each person
for every share by him or her subscribed or held, upon payment to
the treasurer of the three first instalments on each share of the
said stock, which certificate shall be transferable in person or by
attorney, in presence of the president or treasurer, subject howe-
ver to the payment of the money due and that may grow due there-
on; and the assignee holding any certificate, having first caused
the assignment to be entered in a book of the company which shall
be kept for that purpose, shall be a member of the corporation, and
for every certificate so held shall be entitled to one share of the
capital stock, and of all the estates, benefits and emoluments, of
the company, and to vote as aforesaid at the meetings thereof.
7. And be it enacted, That the president and directors of said
company shall be convened at such times and places, in such man-
ner as shall be agreed on. for transacting the business of the compa-
ny, and a majority shall be a quorum, who in the absence of the
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