SEC. 12. And be it enacted, That the directors of
said company, or a majority of them, shall have
power to appoint judges of all elections, and to elect
a President of said company either from among the
director of or others, and to allow him such compen-
sation for his services as the may deem proper; and
if any vacancy shall occur by death, resignation or
refusal to act, of any President or Director, before
the year for -which he was elected has expired, a per-
son to fill such vacant place for the residue of the
year may he appointed by the President and Direc-
tors of said company, or a majority of them; and the
President and Directors of the company shall hold
and exercise their offices until a new election of
President and Directors; and all elections which are,
by this Act or by the by-laws of said company, to be
made on a particular day or at a particular time, if
not made on such day or at such time, may be made
within thirty days thereafter.
SEC. 13. Awl be it enacted. That a general meeting
of the stockholders of said company shall be held
annually, at the time and place appointed for the
election of the President and Directors of said com-
pany, but they may be called at any time during the
interval between said annual meetings by the Presi-
dent and Directors, or a majority of them, or by
stockholders owning at least one-fourth of the whole
stock subscribed, upon giving thirty days' public no-
tice of the time and place of holding the same, in the
same manner as prescribed for giving notice for open-
ing books of subscription; and when any such meet-
ings are called by the stockholders, such notice shall
specify the particular object of the call; and if at
any such called meetings a majority (in value) of the
stockholders of said company are not present in per-
son or by proxy, such meeting shall be adjourned from
day to day without transacting any business, for any
time not exceeding three days; and if within said
three days stockholders having a majority (in value)
of the stock subscribed do not attend, such meeting
shall be dissolved.
SEC. 14. And be it enacted. That at the regular an-
nual meetings of the stockholders of said company,
42
|
Appoint
judges of
election
Vacancies
A general
meeting to be
held annually
Called meet-
ings
Exhibit a
statement of
affairs.
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