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Proceedings and Acts of the General Assembly, 1870
Volume 188, Page 2960   View pdf image (33K)
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ODEN BOWIE, ESQUIRE, GOVEENOE. 421

chell, William B. Jones, Fielder Magruder, O. T.
Sheriff, Lewis Magruder, Charles White, Charles
A. Wells, of the Western Shore of the State of
Maryland, and their successors be and they are
hereby declared to be a body politic and corporate
by the name and style of the Maryland Farmers
and Planters' Produce Co-operative Association,
and by that name shall have perpetual succession
and generally to do and perform all acts and
things relative to the objects of this corporation.

Incorporation

Sec. 2. And be it enacted, That the purposes and
objects of this association, purely mutual in its
character, shall be aiding and assisting each other
and strangers in securing a sale market for all
produce grown on the land, and ensure to each
the full benefits to be derived from all legislation

Purely mutual

heretofore had in the way of protection from in-
competent and unscrupulous agents, under such
rules and by-laws as may be adopted by its mem-
bers.

Protection.

Sec. 3. And be it enacted, That the par value of
the shares of this association shall be one hundred
dollars each, the number of which shall not exceed
one thousand.

Par value.

Sec. 4. Be it enacted, That the affairs of this
association shall be managed by a Board of twelve
Directors, one of whom shall be designated as Pre-
sident and who shall be elected annually on the
first Monday in January, in each and every year,
at the Company's office, to serve for twelve months,
and until their successors are elected by a majority
of the stockholders or by the stockholders present
representing a majority of the stock subscribed,
also a secretary, a treasurer, and an agent, and
each stockholder shall have and be entitled to one
vote for every share, and shall vote in person or
by written proxy.

Officers.

Sec. 5. Be it enacted, That the Board of Direc-
tors shall have full power to employ all officers
and agents elected, to fix their compensation, to
dismiss them, to re-appoint until the next general
election, and to take bonds from any agents, offi-
cers or employees of said Company, for the faith-
ful execution of the duties of such persons.

Employ
officers.

 

 

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Proceedings and Acts of the General Assembly, 1870
Volume 188, Page 2960   View pdf image (33K)
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