592

LAWS OF MARYLAND.

the directors of this association; to acquire by purchase or
any manner, take, receive, hold, use, employ, manage, mort-
gage, dispose of in any manner not inconsistent with law;
deal with any property, real, personal or mixed, and situate
in or out of the State, which may be necessary or proper to
enable said corporation to carry on its operations or fulfill the

Purposes of
the
corporation.

purposes named in this Act; and generally to do every other
thing or act, not inconsistent with law, which may be neces-
sary or proper to promote the objects, designs and purposes
for which this corporation is formed, to be for the purpose of
raising a fund for charitable and benevolent objects of the
Elks, in the said City of Baltimore, in the State of Maryland,
in the year nineteen hundred.

Capital stock.
Privilege to
increase.

SEC. 2. And be it enacted, That the capital stock of said
corporation shall be twenty-five thousand ($25,000) dollars,
divided into five thousand (5,000) shares, of five ($5) dollars
each, which said capital stock may be increased by the direc-
tors, to be elected as hereinafter provided for, to an amount
not exceeding one hundred thousand ($100,000) dollars.

Shall elect
directors.

SEC. 3. And be it enacted, That the persons hereinbefore
named as incorporators, or a majority of them, or if any one of
them refuse to act, then a majority of the remainder, may
cause books to be opened, at such times and places in the City
of Baltimore, as they may elect, in which city their principal
office shall be located; and that when one thousand or more
shares of said stock shall have been subscribed, said incor-
porators, or a majority of them, and in case any of them
refuse to act, then a majority of the remainder, shall call a
general meeting of the subscribers, at such time and place as
they may appoint, after giving ten days' notice of such meet-
ing by one insertion in two of the daily newspapers in said
city; and at such meeting said incorporators, or a majority
of them, or in case any of them refuse to act, then a majority
of the remainder shall lay the subscription books before sub-
scribers then and there present, whereupon the subscribers,

How elected.

or a majority of them, who may represent a majority of the
stock so subscribed, shall elect, by ballot, twenty or more
directors, but not exceeding fifty, who shall be stockholders
of said corporation, to manage the affairs of said corporation,
which directors, or a majority of them, shall have power to
elect a president from among the directors; and in the event
of the death, resignation, removal or other disqualification of
any of the directors during the term for which they were
elected, the remaining directors shall fill the vacancies thus