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Proceedings and Acts of the General Assembly, 1870
Volume 188, Page 3221   View pdf image (33K)
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•682

LAWS OF MARYLAND.

Powers and
duties of the
President and
Directors.

Sec. 6. And be it enacted, That the powers and
duties of the President and Directors of the said
Company, except as herein mentioned, shall be
the same as those of the President and Directors of
the Western Maryland Railroad Company, as de-
fined by an Act of the General Assembly of Mary-
land, entitled an "Act to incorporate the Baltimore
Carroll and Frederick Railroad Company," and
the several supplements and amendments thereto.

General meet-
ing.

Sec. 7. And be it enacted, That a general meet-
ing of the stockholders of the said Company shall
he held annually at the time and place appointed
for the election of Directors, and such meetings
may from time to time be called and shall be con-
ducted and adjourned, and shall be for the pur-
poses provided in reference to such meetings by the
Act of Assembly mentioned in the preceding sec-
tion of this Act.

President and
Directors to
swear.

Sec. 8 And be it enacted, That the President
and each of the Directors of the said Company shall,
before proceeding to act, swear or affirm, as the
case may he, that he will faithfully discharge the
duties of his office to the best of his skill and judg-
ment.

May call in
subscriptions
to capital
stock.

Sec. 9. And be it enacted, That the President and
Directors, or a majority of them, may call in the
subscriptions to the capital stock in such install-
ments and at such times as they may deem best,
and the persons named in the first Section of this
Act, or the survivors of them, or a majority of
them, may in their discretion require any amount
not exceeding one dollar per share to be paid at
the time of subscribing, but the failure to pay such
sum at the time of subscribing, shall not invalidate
the subscription except at the option of the said
persons in said first Section mentioned, the survi-
vors, or a majority of them.

Power to con-
struct.

Sec. 10. And be it enacted, That the said Com-
pany shall be and it is hereby invested with the
rights and powers necessary to the construction,
maintenance, use and repair of a line of railway,
with power to cross under or over any other rail-
road, from any point on the line of the Western
Maryland Kailroad, in Washington County, to
any point in Allegany County, with a road bed

 

 

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Proceedings and Acts of the General Assembly, 1870
Volume 188, Page 3221   View pdf image (33K)
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