1811. |
LAWS OF MARYLAND.
materials, engines, machines, privileges, permissions
rights and advantages, to sell again, let, hire, or otherwise dispose
of, in whole or in part, for the benefit of said company, in
such manner and on such terms and conditions as they shall judge
most proper, and all proper and needful conveyances, assurances,
contracts and deed therefor, to make and execute. 6th. To receive,
use, dispose of and employ, for the purposes aforesaid, or any of
them, all the capital stock, money, property, and funds of the said
company, of every nature and kind whatever, now or at any time
hereafter to be held or claimed, keeping and rendering to the
stockholders, at each annual meeting for the choice of directors, a
particular account of all the stock, property, money and funds so
received, expended and disposed of, in the course of the year then
next preceding, and of all contracts, purchases, leases, sales and
dispositions, so to be made within the same period, which shall at
all times be subject to the inspection of the stockholders. 7th.
To
provide for and pay, out of the revenues and funds of the company,
all such annual expenses as it may be necessary to incur for keeping
up, carrying on, and encouraging the said manufactories, or
for promoting and carrying on, in any manner, the business of the
company. 8th. To bind by their contracts, deeds and writing,
under
the hand of the president, and the seal of the company, all the
property, estate, common stock and joint funds of the said company,
but not the persons or separate property of themselves, or any of
the stockholders. 9th. To establish rules and regulations for
the
transfer of the stock of the said company, and for the proof of the
property, and ownership therein. 10th. To call general meetings
of the stockholders from time to time, and at such times and for
such purposes as they shall think proper, giving six weeks notice in
one or more newspapers published in the town of Easton, of the
time, place and purpose of every such meeting respectively; provided,
that no such meeting shall be competent to the transaction of
any business whatever, unless there be present thereat, the holders
of one thousand shares at least, or their proxies. 11th. And
generally
to do, act and transact, in all things for the said company,
relative to the undertaking, common stock and joint property aforesaid,
in as full and complete manner as the individual stockholders
or subscribers might do were they personally present. |
Original subscribers
&c. to be entitled
to all benefits,
&c.
Proviso. |
13. AND BE IT ENACTED, That the original subscribers
to this
association, and the assignees, transferrees and legal representatives
of all such original subscribers, for ever, shall be taken and
deemed, to all intents and purposes, to be members of the company,
and shall be entitled to all the rights, benefits and advantages, to
arise in any manner therefrom, or from the property, works and
capital stock thereof, in proportion to the amount of their stock
and interest respectively; Provided, that no transfer or assignments |