LAWS OF MARYLAND.— 1836.

1267

for the good conduct, fidelity and attention of such officers,

agents and clerks, and to do all other acts and things, touching

General

the affairs of the company, not otherwise specially provided for.

powers.

SEC. 6. And be it enacted, That the presence of stockholders,

Quorum re-

entitled to a majority of the whole number of votes in person or

quired for a
general

by proxy, shall be necessary to the transaction of business at

meeting.

any general meeting of the stockholders, and such meetings

shall be organized by the appointment of a chairman and secre-

How or-

tary, but a smaller number may adjourn from time to time, and

ganized.

if there should be no election of any directors at any annual

meeting, as herein before directed, the directors then in office

Offices

shall continue until the next annual election by the stockholders

expire.

in general meeting in which the major part of the stock shall be

represented.

SEC. 7. And be it enacted, That if the whole amount of
capital stock, authorized to be raised by any act of incorpora-

If the whole
capital be
not sub-

tion, shall not have been subscribed for before the company

scribed.

incorporated by said act shall have commenced its operation, it

shall in such case be lawful for the president and directors of

said company, whensoever they may deem it expedient, to

cause books of subscription to be opened from time to time,
until the whole amount of the capital stock authorized to be
raised by said act, shall have been subscribed for; and also if

Books may
again be
opened.

so to them it shall seem proper, to fix the price of the additional
stock at such a premium as they may, from time to time direct ;
which premium shall be the common property of all the stock-

May fix
price of
such stock.

holders of said company, in proportion to the capital stock

owned by them, respectively.

SEC. 8. And be it enacted, That so much of the price of each

In case of

share subscribed, whether before or after the company shall

subscrip-
tions re-

have been organized, as shall remain unpaid at the time when
the subscriber shall become a member of the company, shall be

maining un-
paid.

afterwards paid by the subscriber, his executors, administrators

or assigns in such instalments and at such times as the president

and directors shall from time to time require, and if any subscri-

ber, his executors, administrators or assigns shall fail to make

payment of any sum, so required of him, after thirty days notice of

After 30

such requisition shall have been given in some newspaper pub-

days public
notice.

lished in the neighbourhood, or by some other convenient mode

of notification, it shall be lawful for the company to recover the
same, or such part thereof as shall not have been paid, with law-

May be re-
covered by
suit.

ful interest from the time when due, and costs, before a single

justice of the peace in any county or in any court in this state,

having jurisdiction of the same, where the defendant may be

found ; or if he be not found in this state, then the said company

may recover the same, by attachment against the property of the

Attachment

defendant, on three weeks previous notice in some newspaper