| DEC. 1813.
CHAP. 126. |
LAWS OF MARYLAND.
subscribed, out of which shall be defrayed the expenses attending
the taking such subscriptions, and other incidental charges, and the
remainder shall be paid over to the treasurer of the corporation,
as soon as the same shall be organized, and the officers chosen as
herein after mentioned, to be by him from time to time invested in
the name of, and for the benefit of the said corporation, in some
public fund or stock within the states of Pennsylvania or Maryland. |
Names of subscribers,
&c. shall be
entitled
Body politic. Privileges
and franchises. |
" Sec. 2. And be it further enacted
by the authority aforesaid,
That when two hundred and fifty, or the whole number of shares
shall be actually subscribed, the said commissioners, or a majority
of them, shall certify under their hands and seals, the names of
the subscribers, and the number of shares subscribed by each, to
the governor of this commonwealth, and thereupon it shall and
may be lawful for the governor, by letters patent under his hand
and the seal of the state, to create and erect the subscribers into
one body politic and corporate, in deed and in law, by the name
style and title, of The President, Managers and Company, of the
Baltimore and Strasburg Turnpike Road, and by the said name
the said subscribers shall have perpetual succession, and all the
privileges and franchises incident to a corporation, and shall be
capable of taking and holding their said 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, and of selling, transferring
and conveying, in fee simple, or for any lesser estate, all such
lands, tenements, hereditaments and estate, real and personal, as
shall be necessary to them in the prosecution of their works, and
of suing and of being sued, and of doing all and every other matter
and thing which a corporation or body politic may lawfully do. |
Notice to be given
of time and place
for subscribers to
organize corporation.
Provisos. |
" Sec. 3. And be it further enacted,
by the authority aforesaid, that
the commissioners aforesaid, as soon as conveniently may be after
the said letters patent shall be sealed and obtained, shall give notice
in two or more of the public papers in Philadelphia, two in the
city of Baltimore, and two in the borough of Lancaster aforesaid,
of a time and place by them to be appointed, not less than thirty
days from the publication of the first notice, at which time and place
the said subscribers shall proceed to organize the said corporation,
and shall choose, by a majority of votes of the said subscribers, by
ballot, to be delivered in person or by proxy duly authorised, one
president, twelve managers, one treasurer, and such other officers
as they shall think necessary, to conduct the business of the said
company for one year, or until such other officers shall be chosen;
and shall and may make such by-laws, rules, orders and regulations,
not inconsistent with the constitution and laws of the
United States, the state of Maryland, or of this commonwealth, as
shall be necessary for the well ordering the affairs of the said company;
Provided always, that no person shall have more than five
votes at any election or in determining any questions arising at
such meeting, whatever number of shares he may be entitled to,
and that each person shall be entitled to one vote for every share
by him held under the said number; Provided nevertheless, that all
future annual elections of the said corporation shall be held on such |
|
 |
