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LEVIN WINDER, ESQUIRE, GOVERNOR.
7. AND BE IT ENACTED, That all special meetings
of the stockholders
shall be called by a majority of the directors or stockholders
holding three fourths of the stock held for the time being. |
DEC. 1813.
CHAP. 145.
Special meetings. |
8. AND BE IT ENACTED, That no real property
held by the
company shall be disposed of or sold but by the consent of a majority
of three fourths of the whole number of votes of the stockholders
for the time being, and all sales made of real property
shall be transferred by the president for the time being. |
No real property
to be sold without
consent of three-fourths
of stockholders. |
9. AND BE IT ENACTED, That no subscriber,
stockholder, or a
member of the said company, shall be answerable in his person or
individual property for more than the amount of stock held by him
in the institution, for any contract or engagement of said company,
or for any losses, deficiencies or failure, of the capital stock of
said company, but the whole of the said capital stock, together
with all property, rights and credits, belonging to the said institution,
and nothing more, shall at all times be answerable for the demands
against the company. |
No member to be
answerable for
more than his amount
of stock. |
10. AND BE IT ENACTED, That the president
and directors, or
a majority of them, so soon as the progress of the work and
state of the funds will permit, shall make, declare and pay to the
stockholders, or their legal representatives, yearly dividends, at
certain stated times, on the stock of the company, reserving however
out of the income of the company's property, such sum annually
as they shall judge necessary and prudent, for repairs, augmentations
and contingencies. |
Dividend. |
11. 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, (subject to the original agreement aforesaid,)
in proportion to the amount of their stock and interest respectively;
Provided, that no transfer or assignments of the said
stock shall be valid unless it be made on the books of the company,
and in such manner as the president and directors, or a majority
of them, shall appoint; and every person or persons having so
transferred or assigned the whole of his, her or their interest and
stock in the company, shall hereafter cease to be a member or
members of the said company to all intents and purposes. |
Original subscribers,
&c. deemed
members of the
company.
Proviso. |
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CHAP. CXLVI.
An Act authorising a partition of the Lands therein mentioned.
Lib.
TH. No. 4, fol. 186. A Private Act.
The county court of Worcester county
authorised to cause partition of two
tracts of land, called Baltimore's Gift and Partnership, situate
on Apeteague
Island, to be made amongst the persons interested. |
Passed Jan. 31, 1814. |
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CHAP. CXLVII.
An Act authorising Robert Welch, of Ben. Collector of Anne-Arundel
County, to complete his Collections. Lib.
TH. No. 4, fol. 188. |
Passed Jan. 31, 1814. |
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