254 LAWS OF MARYLAND.
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majority of them, shall give thirty days public
notice of the time and place of holding an election
for a President and six Directors of the said Com-
pany and that in said election the stockholders
may vote in person or by proxy, according to the
number of shares held, and the commissioners
aforesaid or three or more of them, shall bejudges
of the first election of directors, and any stock-
holder shall be eligible as President and Director,
and the said commissioners shall deliver over the
original subscriptions to the President and Direc-
tors immediately after their election. |
Directors to
be chosen an-
nually, |
Sec. 6. And be it enacted. That to continue the
succession of the President and Directors of the
said company, seven Directors shall be chosen an-
nually after notice aforesaid, on the second Mon-
day of January in every year by the stockholders
of said company, and the Directors or a majority
of them shall have power to appoint judges of
elections and elect a President of said company
from among the Directors, and allow him such
compensation for his services as they may deem.
proper, and if any vacancy shall occur from death,
resignation, or refusal to act of the President or
any of the Directors of the said Company, the
President and Directors or a majority of them
shall elect some person or persons to serve until
the next annual election, and the said President
and Directors shall hold and exercise their office
until a new election of President and Directors,
and that all elections that are by this Act, or
by the laws of the said company) to be made on a
particular day, may be legally made at any time
within sixty days thereafter, after notice afore-
said. |
General meet-
ing of Stock-
holders. |
Sec. 7. And be it enacted, That a general meet-
ing of the stockholders may be called at any time
upon giving thirty days public notice in the man- |
Proviso. |
ner directed in section third of this Act; provided
that a majority of the stockholders holding a ma-
jority of the capital stock of said company shall
be required to transact business in such meeting
of stockholders. |
Power to ap-
point Officers,
Agents, &c. |
Sec. 8. And be it enacted, That the said Presi-
dent and Directors, or a majority of them, may
appoint all such officers, engineers, agents, or ser- |
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