168 LAWS OF MARYLAND.
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States Real Estate Mining and Manufacturing
Company, and shall manage the affairs and trans-
act the business of said Company until the first
annual meeting hereinafter provided for, and un-
til an election of officers shall have been made as
hereinafter provided for. |
Annual Meet-
ings and Elec-
tion of Direc-
tors. |
Sec. 3. And be it enacted, That the subscribers
to the said stock shall meet annually on the first
Monday of January of each year and elect from
their number not less than seven or more than
eleven directors to serve for the term of twelve
months thereafter, and until others shall be cho-
sen, when said directors during their term of ser-
vice shall have the sole management and direction
of the stock-property affairs and concerns of said
company; public notice whereof shall be given by
the directors twenty days previous to holding said
election by advertisement inserted in one or more
of the newspapers printed in the city of Baltimore,
and the said election shall be made by such of the
stockholders of said company as shall attend for
that purpose, either in person or by proxy; and
all elections shall be by ballot, each share of stock
on which all instalments due have been paid, shall
entitle the holder thereof to one vote, and the
seven or eleven persons who shall have the great- |
In case of a
tie vote—how
decided. |
est number of votes shall be the Directors. And
if it shall happen at any election that two or more
persons shall have an equal number of votes, so
that no choice shall have been made as to such per-
sons, then the stockholders herein authorized to
vote at such election, shall proceed by ballot a
second time and by a plurality of votes determine
which of the persons so having an equal number
of votes shall be the director or directors so as to
complete the number required; and the said di-
rectors, so chosen, shall elect one of their number
to be the President of the said company, who shall
preside at the meetings of the directors, and in the
absence of the President, the directors may ap-
point a President pro tempore from among their |
Vacancy—
how filled. |
number; and if any vacancy shall be occasioned in
the Board of Directors by death, resignation or
otherwise, the same shall be filled for the remain-
der of the term in which it may happen, by the |
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