184
Election of
President.
Quorum.
School Com-
missioners
may occupy.
May be re-
pealed.
In force.
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LAWS OF MARYLAND.
number of director? as they may determine, as soon
as they shall determine that a sufficient amount of
stock has been subscribed, after giving twenty days
notice thereof to the stockholders by individual or
public notice, and there shall be an election of Presi-
dent and Directors annually on such day as they may
name in their by-laws, but the succession shall not
be interrupted if there should he a failure to elect,
in such case the incumbent shall hold over until
another election shall be called and held by the
stockholders, or any three of them, after notice as
aforesaid, and every share of said stock shall be enti-
tled to one vote; in all meetings of the stockholders
a majority of stock subscribed, represented either in
person or by proxy, shall constitute a quorum for the
transaction of business. The President and Directors
may locate the said town hall at any point within the
limits of the town of New Windsor, as may appear
best in their judgment.
SEC. 5. And be it enacted. That the Board of County
School Commissioners of Carroll county are hereby
authorized and empowered to enter into such leases
and contracts and on such terms as they may in their
judgment deem wise and expedient, with the said
Town Hall Company; may occupy a part of the
same building with the Free Public School.
SEC. 6. And he it enacted, That this law may be
repealed by the General Assembly of Maryland at
will, but the stockholders may agree to dissolve the
corporation, sell their property, and settle up the
business of the concern.
SEC. 7. And he it enacted. That this Act shall take
effect from the date of its passage.
Approved April 1, 1872.
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