516
To make and
establish by-
laws, rides,
&c.
Stockholders
to elect Presi-
dent and
Directors.
Shares, how
to be voted.
Power to call
on subsciib'rs
for payment.
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LAWS OF MARYLAND.
other officers or agents as the interests of said com-
pany may require, to serve during the pleasure of
said President and Directors, and shall determine
the nature of the surety and the amount the respective
officers and agents shall bond for, the amount of
their respective salaries, and when the same shall he
payable.
SEC. 6. And be it enacted. That the said President
and Directors, or a majority of them, shall have full
power and authority to make and establish all such
by-laws, rules, orders and regulations, not incon-
sistent with the Constitution and Laws of this State,
that shall or may be necessary for the well being,
ordering and directing the affairs of said company.
SEC. 7. And be it enacted. That the stockholders of
the said company, in one year from and after the day
on which the first election for President and Directors
shall be held, as hereinbefore provided for, and on
the same day in every year thereafter, unless the
same shall happen on Sunday, and in that case on
the day succeeding, shall elect by ballot from among
the said stockholders, one President and six Directors,
to serve for one year from the day of their election,
and until the election of their successors, and in
every election, as aforesaid, for President and Di-
rectors, each stockholder shall be entitled to one vote
for each share of stock by him, her or them held,
and in case it shall happen that an election for Pres-
ident and Directors should not be made upon any
day when, pursuant to the provisions of this Act,
such election ought to have been made, said corpora-
tion shall [shall] not for that cause be dissolved, hut
it shall he lawful on any other day, to hold and make
an election as aforesaid, in such manner as shall be
prescribed and regulated by the by-laws and ordi-
nances of said corporation.
SEC. 8. And be it enacted, That the President and
Directors, or a majority of them, shall have full power
and authority to call upon the subscribers to the
capital stock of said Company for the payment of
the respective amounts subscribed for, in instalments
not exceeding five dollars on each share subscribed
for, nor more than one instalment in any one month,
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