658
To qualify.
To appoint
officers and
employees.
Compensat'n
If the capatal
stock prove
insufficient.
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LAWS OF MARYLAND.
it shall 'be -the duty of the President and Directors in
office for the preceding year to exhibit a clear and
distinct statement of the affairs of the company in
detail; and at any called meetings of the stock-
holders a majority of those present may require
similar statements from the President and Directors,
whose duty it shall be to furnish them when thus re-
quired; and at all general meetings of the stock-
holders a majority (in value) of all the stockholders
in said company may remove from office any Presi-
dent, or any of the Directors of said company, and
may appoint others in their stead.
SEC. 15. And be it enacted, That every President
and Director of said company, before he acts as
such, shall swear or affirm, as the case may be, that
he will well and truly discharge the duties of his said
office to the best of his skill and judgment.
SEC. 16. And be it enacted. That the said President
and Directors, or a majority of them, may appoint
all such officers, engineers, agents or servants what-
soever, as they may deem necessary for the transac-
tion of the business of the company, and may re-
move any of them at their pleasure; and they, or a
majority of them, shall have power to determine by
contract the compensation of all the engineers, offi-
cers, agents or servants in the employ of said com-
pany, and to determine by their by-laws the manner
of adjusting and settling all accounts against the
company, and also the manner and evidence of trans-
fers of stock in said company; and they, or a ma-
jority of them, shall have power to pass all by-laws
which, they may deem necessary or proper for exer-
cising all the powers vested in such company, and for
carrying out the objects thereof; provided, only, that
such by-laws shall not be contrary to the laws of the
United States or this State.
1 SEC. 17. And be it enacted, That if the capital stock
of said company shall prove to be insufficient for the
purpose of constructing and equipping its road, it
shall and may be lawful for the President and Direc-
tors of said company, or a majority of them, from
time to time to increase the said capital stock, by the
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