974

LAWS OF MARYLAND.

Stockholders
not liable
for loss, etc.

SEC. 7. And be it enacted, That no stockholder of this com-
pany shall be answerable in person or individual property for
any contract of said company, or for any loss or deficiencies
or failure of the capital stock of this company, but the whole
of the said capital stock, together with all the property, rights
and credits belonging thereto, be answerable for debts and
liabilities of said company.

May transfer
stock.

SEC. 8. And be it enacted, That the stock of this corpora-
tion may be assigned or transferred on the book of this cor-
poration in person or by attorney only, but no stockholder
indebted to the corporation shall be permitted to make a
transfer of his stock or receive any dividend until such debt
be paid or secured to the satisfaction of the president and
directors.

May insure
for loss by
lightning.

SEC. 9. And be it enacted, That the said company shall have
authority and may take insurance on any kind of property
against loss or damage occasioned by lightning, whether fire
shall result therefrom or not, and they may make such by-laws
and regulations concerning liability for loss or damage by
lightning as may be deemed necessary.

May call
general meet-
ing, etc.

SEC. 10. And be it enacted, That the directors may call a
general meeting of the stockholders for any purpose relating
to the affairs of the corporation, by giving at least ten days'
notice thereof in one or more of the newspapers published in
Dorchester County, and by written or printed notices mailed
to the stockholders; they may be required on the written ap-
plication of the shareholders holding a majority of the shares of
stock to call a general meeting of stockholders, and in case of
their refusal or failure so to do, the said shareholders holding
a majority of the shares of stock may call such a general meet-
ing, as hereinbefore mentioned, and in case of refusal so to do,
the said shareholders, holding two hundred and fifty shares or
more of stock, may call such general meeting in the manner
above mentioned.

Shall not
issue notes,
script, etc. as
currency.

SEC. 11. And be it enacted, That nothing in this Act shall
be so construed as to authorize the said corporation to issue
any note, token, script or evidence of debt to be used as cur-
rency; and the legislature hereby reserves the right to alter,
amend or repeal this Act or any part thereof.

SEC. 12. And be it enacted, That the principal office of said
company shall be located in Cambridge, Dochester County,
Maryland.