WM. PINKNEY WHYTE, ESQUIRE, GOVERNOR
SEC. 11. And be it enacted. That the President and
Directors shall have power to purchase or hire a
suitable lot and building or buildings, within the
limits of the City of Baltimore, for the purpose of
transacting the business of the company.
SEC. 12. And he it enacted, That the President and
Directors shall keep full, fair and correct accounts of
their transactions, which shall he open at all times
to the inspection of the stockholders; they shall
annually prepare a full and true statement of the
affairs of the company, which statement shall be
certified to by the President and Secretary.
SEC. 13. And be it enacted. That the President and
Directors may declare dividends of the profits of the
company semi-annually, or so much thereof as shall
seem to them advisable.
SEC. 14. And be it enacted. That no stockholder
in this company shall be answerable in person or in-
dividual property, for any contract or agreement of
said company, or for any losses, deficiencies or fail-
ures of the capital stock of this company, but the
whole of said capital stock, together with all prop-
erty, rights and credits belonging thereunto, and
nothing more, shall at any time be answerable for
demands against the company.
SEC. 15. And be it enacted. That as soon as practi-
cable after the passage of this Act, the persons named
in the first section thereof, shall open hooka for sub-
scription to the capital stock of the company, at some
public place or places in the City of Baltimore, or
elsewhere, of which public notice shall be given, and
shall keep the same open for thirty days, or longer,
in their discretion.
SEC. 16. And he it enacted. That the stock of this
company may be assigned and transferred, on the
books thereof, in person or by power of attorney
only; but no stockholder indebted to the company
shall be permitted to make a transfer or receive a
dividend until such debt is paid or secured to be paid,
to the satisfaction of the President and Board of
Directors.
35
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.NOR. 545
Purchase or
hire lot.
To keep fair,
full and cor-
rect accounts
Dividends
Stockholders
not person-
ally liable for
losses
Open books
for subscrip-
tions.
Stock may
be assigned.
and trans-
ferred
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