326

LAWS OF MARYLAND.

rectors during any one or more years, shall not be
held or take to make a forfeiture, or to constitute
an abandonment of this Act of Incorporation, but

Hold over.

the President and Directors chosen at any time shall
continue to hold and exercise their office until such
time as a new election shall be made according to
the provisions of this Act.

Sec. 7. And be it enacted, That a general meet-

Annual meet-
ing.

ing of the stockholders shall be held annually at
the time appointed for the election of President and
Directors of said company, and general meetings
of the stockholders may be called at any time dur-
ing the interval between the said annual meet-
ings by the President and Directors, or a majority
of them, or by the stockholders owning at, least
one-fourth in amount of the stock actually sub-
scribed, upon giving thirty days public notice by
advertisement, to be inserted in some newspaper

Public notice
and object.

published in Elkton, and in some newspaper pub-
lished in Chestertown, of the time of holding the
same; and when such meetings may be called b\r
the stockholders, the notice shall specify the object
of the call; and if at any such called meetings a
majority in value of the stockholders are not present
in person or by proxy, the meeting shall be ad-
journed from day to day without the transaction

Three days no-
tice.

of any business, for any time not exceeding three
days; and if within three days the stockholders
having a majority of the stock subscribed do not
attend, the meeting shall be dissolved; and all
general meetings of the stockholders shall be held
at the place where the principal office of the com-
pany for the transaction of business shall be
located.

Sec. 8. And be it enacted, That at the annual
meetings of the stockholders, the President and
Directors in office for the preceding years shall
exhibit to the stockholders a clear and distinct

Exhibit state-
ment.

. statement of the affairs of said company; that at
any called meetings of the stockholders, (a ma-
jority in value being present,) a majority in value
of those present may require a similar statement
from the President and Directors, whose duty it
shall be to furnish it when thus required; and at
all general meetings of the stockholders a majority
in value of all the stockholders of said company