| 1801.
CHAP. 45. |
LAWS OF MARYLAND.
lawful attorney, the person to whom the same is transferred shall
thereupon be entitled to all the rights and privileges vested in the
original stockholder by this act. |
Meeting of subscribers
--appointment
of managers. |
5. AND BE IT ENACTED, That as soon as three
hundred shares
be subscribed, the persons hereby empowered to take subscriptions,
or any five of them, may call a meeting of the subscribers at the
city of Washington, after not less than four weeks notice successively
in at least one of the Washington city, Winchester and Elizabeth-town
news-papers; and the subscribers assembled in consequence
of such notice shall choose, by ballot, from among the subscribers,
by a majority of votes of such as may be present, or by proxy, five
managers for the term of one year thereafter, and on the same day
annually a like election shall be made; and in case of refusal, death,
resignation or disqualification, of any manager, the remaining managers,
at their next meeting thereafter, shall elect, by ballot, another
person qualified as aforesaid in his place for the residue of the
year; the managers, or any three of them, shall at their first meeting
after every annual election, elect, by a majority of members
present, by ballot, from among the stockholders, a president, who
shall, whether a manager or not, be thereupon entitled to all the
powers and privileges of one, and if he was before a managers, another
manager shall be elected as aforesaid, so as to keep up the number
of managers prescribed by this act, exclusive of the president,
and in case of refusal, death, resignation or disqualification, of the
president, the managers shall meet, as soon as conveniently can be
thereafter, and elect another person for president in the manner
aforesaid. |
| Subscribers incorporated. |
6. AND BE IT ENACTED, That all those who shall
become subscribers
to the said road, their successors or assigns, shall be and
they are hereby created and made a body politic, by the name and
style of The President, Managers and Company, of the Allegany
Turnpike Road, and by the said name the subscribers shall have
perpetual succession, and all the privileges incident to a corporation,
and shall be capable of taking and holding their capital stock,
and the increase and profits thereof, and of enlarging the same
from time to time by new subscriptions, in such manner and form
as they shall think proper, if such enlargement shall be found necessary
to fulfil the intent of this act, and of purchasing, taking and
holding, to them, and their successors and assigns, in fee-simple, or
for any lesser estate, all such lands, tenements, hereditaments and estates,
real and personal, as shall be necessary to them in the prosecution
of their works, and of suing and being sued, and of all and
every other matter and thing which a corporation or body politic
may lawfully do, by making by-laws, rules, orders and regulations,
not inconsistent with the constitution and laws of this state, and of
the United States. |
President, &c.
may enter upon
lands over which
road may pass--
damages. |
7. AND BE IT ENACTED, That it shall and may
be lawful to
and for the said president and managers, their superintendents,
surveyors, engineers, artists and chain-bearers, to enter into and
upon all and every the lands, tenements and enclosures, through
which the said intended road may be thought proper to pass, and to
examine the ground most proper for the purpose, and to survey,
lay down, mark and fix, such rout or tract for the same, as in the
best of their judgment and skill will combine shortness of distance |
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