THOMAS SWANN, ESQUIRE, GOVERNOR. 263
for the transaction of business; and when so pre-
pared shall exercise a general superintendence of
the affairs of the Company until the election of
their successors. |
|
Sec. 4. And be it enacted, That the Directors
above named, or any five of them who may have
organized the said Company during their term of
office, and any other Board of Directors that may
hereafter be elected as their successors, shall have
power and authority to allow any officer or officers
in the employ of the Company, such salaries, fees
or compensation as they may deem proper, and all
officers of the Company, other than Directors,
shall be appointed annually by such Directors as
shall be present at the first meeting of the Board
after the annual election of Directors; and in case
of any vacancy occurring in the Board of Directors
at any time or times from any cause whatever such
vacancy or vacancies shall be filled by the remain-
der of the Board until the time of holding the next
annual election. |
May fix sala-
ries of Officers,
&c. |
Sec. 5. And be it enacted, That it shall be the
duty of the President or Secretary of said Compa-
ny, annually to give at least twenty days notice by
advertisement published in some newspaper or
newspapers published in Somerset and Worcester
counties, or by hand bill posted at such public
places as he may deem proper, of the election,
which shall be held annually after the day of the
organization of said Company, on the day and
month in each year corresponding with such day
of organization for twelve Directors of the Compa-
ny, who shall be members thereof; but in case
such election should, from any cause not be held
on the designated day, the Company shall not in
consequence thereof be dissolved, but such election
may be held at such subsequent time as may be se-
lected by the Board of Directors or a majority of
them, and at all such elections each member shall
have one vote and may vote either in person or by
proxy. |
Notice to be
given. |
Sec. 6. And be it enacted, That it shall be the
duty of the Secretary to keep a book containing a
copy of this Act, and of such Constitution and by-
laws of the said Company as may be established,
and that all persons who may wish to become |
Book to be
kept. |
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