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EDWARD LLOYD, ESQUIRE, GOVERNOR.
they shall think proper, of which three weeks notice shall be given
in the two news-papers published at Eaton, and shall keep the
said books open for the space of three weeks unless the whole number
of share shall be sooner subscribed for, which subscriptions
may be made by person or by proxy; and in case the whole number
of shares shall not be subscribed for in that time, the said commissioners,
or any two of them, shall give notice as aforesaid of
the time and place when and where they will receive subscriptions
for the remaining shares. |
1810.
CHAP. 112. |
3. AND BE IT ENACTED, That as soon as three
hundred shares
shall be subscribed, the said commissioners, or any two of them,
shall call a meeting of the stockholders, who shall proceed in person,
or by proxy, to the election, by ballot, of nine directors, and
the said directors shall elect one of their number to act as president,
who shall, with the directors, continue in office one year, and
until a new election for directors shall thereafter be made; and the
said stockholders, in one year after the day on which the election
shall be first made, and on the same day in every year thereafter,
except the same shall happen on Sunday, and in that case on the
day succeeding, shall elect, by ballot, from among the stockholders,
nine persons as directors, and the president and directors for
the time being shall give public notice for a new election, at least
ten days previous to the expiration of the time for which they were
elected; and in case it should happen that an election of directors
should not be made upon any day when, pursuant to this act, it ought
to have been made, the said corporation shall not for that cause be
dissolved, but shall be lawful on any other day to hold and make
an election of directors, in such manner as shall be regulated by
the by-laws or ordinances of the said corporation; and in case of
the death, resignation or removal, of a director, the said directors
shall elect another person to supply such vacancy for the remainder
of the year; and in every election for directors each stockholder
shall be entitled to one more vote for every share by him or her held. |
Stockholders to
meet and elect directors. |
4. AND BE IT ENACTED, That the said president
and directors
shall be authorised to make such by-laws, rules, orders and regulations,
(not inconsistent with the laws of the United States or of
this state,) as shall be necessary for the well ordering and directing
the affairs of the said company, and also to appoint a treasurer
during their pleasure, who, before he proceeds to act as such, shall
give bond, with approved security, to the president and directors,
in such sum as they shall appoint, with condition for the faithful
discharge of the duties of his office. |
President and directors
to make by-laws,
&c. |
5. AND BE IT ENACTED, That the said stockholders,
and their
successors, from time to time of the first meeting before-mentioned,
shall and are hereby declared to be incorporated, by the name of
The Choptank Bridge Company, and by that name may sue and
be sued, implead and be impleaded, answer and be answered unto,
in any court of law or equity of this state, and may make, have
and use, a common seal, and the same break, alter and renew, at
pleasure. |
Stockholders incorporated. |
6. AND BE IT ENACTED, That the president and
directors first
to be chosen as aforesaid, shall procure certificates, to be written
or printed, for all the shares of stock of the said company, and
shall deliver one such certificate, signed by the president, and countersigned |
Certificates of
stock to be delivered,
&c. |
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