| 1811.
CHAP. 139.
Votes allowed. |
LAWS OF MARYLAND.
or proprietors (in person or by proxy,) of the capital stock of the
said corporation, by plurality of votes, and the directors so elected
shall be capable of serving by virtue of such choice, until the first
Monday of February next ensuing the time of such election, and
no longer, except in case of failure of election on the day appointed,
and in that case until such election takes place; and the said
directors at the first meeting after each election, shall choose one
of their number for president; and in case it should happen that
an election of directors should not be made upon the day, when
pursuant to this act it ought to have been made, the said corporation
shall not for that cause be deemed to be dissolved, but it shall
be lawful on any other day within sixty days thereafter, to hold
and make an election in such manner as shall be regulated by the
laws and ordinances of the said corporation; and in case of the
death, resignation or removal out of the county, of any director,
the other directors, or a majority of them, shall appoint another
person to supply his place until the next election; and in every
election for directors each stockholder shall be entitled to vote as
follows: For every share from one to ten, one vote each; every share
above ten, and not exceeding twenty, one vote for every two
shares; and every share above twenty, one vote for every five
shares. |
Contracts, &c. of
president and managers
ratified. |
4. And whereas the persons who have associated
themselves for
building a bridge as aforesaid, have chosen Solomon Brown, Thomas
Saulsbury, Anthony Ross, William Potter, Thomas Style, Charles
Jones and James Wilson, junior, as president and managers on their
behalf, who have proceeded to take subscriptions, collect money and
contract for materials, and for erecting said bridge, therefore,
BE IT ENACTED, That all contracts, proceedings and doings, of
the said president and managers relating to said bridge, be and is
hereby ratified and confirmed, and that immediately after the first
election of directors, in pursuance of this act, all the powers and
authorities of said president and managers as such, shall cease and
determine; and the said president and managers be and they are
hereby directed, to pay over and deliver up to the president and directors,
or their order, all money, books, papers, accounts, contracts
and proceedings, relating to said bridge, and the president
and directors shall have power to conduct and carry on the same
agreeably to the provisions of this act. |
Treasurer, secretary,
and other officers,
to be appointed. |
5. AND BE IT ENACTED, That the president and
directors for
the time being, shall have power to appoint a treasurer, secretary,
toll-gatherer, and such other officers and servants as they shall
deem necessary, and may demand such security as they shall appoint,
for the faithful discharge of the trust and duties of such
officers respectively. |
Certificates of
shares to be delivered
to subscribers. |
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
by the secretary, and sealed with the seal of the corporation,
to each person, for every share by him or her subscribed or
held; which certificate shall be transferrable in person or by attorney,
in presence of the president or secretary, subject however to |
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