| CHARLES RIDGELY, OF HAMPTON, ESQ. GOVERNOR.
or removal from the state, or by any other means, it shall immediately
be filled by ballot, by the directors, from among the stockholders,
until the next election in course. |
1815.
CHAP. 90. |
5. AND BE IT ENACTED, That in choosing directors
no person
or body politic shall have more than twenty votes, and that each
person having one or more shares under the said number of twenty,
shall have one vote for every share so held. |
Number of votes
allowed. |
6. AND BE IT ENACTED, That it shall and may
be lawful for
the said president and directors to call and demand from the said
subscribers respectively, all sums of money by them subscribed, in
instalments not exceeding two dollars and fifty cents on each share,
under the paid of forfeiture of their shares, and of all previous
payments made thereon, to the said president, directors and company;
Provided, that no such demand shall be made without two
months previous notice being given in two or more newspapers
published in Frederick county; And provided also, that no more
than one such payment shall be called for or required in the term
of three months. |
Instalments, how
to be paid.
Provisos. |
7. AND BE IT ENACTED, That the president and
directors, and
subordinate agents of the said company, shall severally take an
oath before some justice of the peace of said county, that they
will faithfully and diligently perform the duties of their respective
stations, according to the best of their skill and judgment, and the
subordinate agents shall moreover give satisfactory security to the
president of said company, before they shall be permitted to act as
such. |
President, &c. to
take an oath. |
8. AND BE IT ENACTED, That the said president
and directors
shall have full power and authority to make all by-laws, rules and
regulations, for the well ordering and conducting of the business
of the company, and such by laws, rules and regulations, to alter,
change and annul, at their pleasure, but every such by-law, rule or
regulation, may be altered or repealed by the stockholders, at a
general meeting to be called for that purpose by any ten or more
stockholders, provided that there be present at such meeting stockholders
holding one hundred shares, or their proxies, and that four
weeks notice be given in two or more newspapers printed in the
county of Frederick of such meeting, and of the alteration or repeal
intended to be proposed thereat. |
By-laws, rules, &c.
may be made. |
9. AND BE IT ENACTED, That the said president
and directors
shall have power to appoint and remove at their pleasure all clerks,
superintendants, agents, or other officers, necessary for carrying
on the business of the said company; to dispose of its funds or
property in the manner hereinafter directed, and to fix and pay out
of the funds of the said company, the compensation of all such
agents, superintendants, clerks or officers; to make such contracts,
purchases or agreements, of all such matters and things in behalf
of the said company, and of all such privileges, permissions, rights
and advantages, of every kind and nature whatever, as they shall
judge necessary for completing in an effectual and proper manner
the introduction, distribution, and supply of water to the town of
Emmitsburgh, with any individuals, companies, firms or corporations,
and to use and dispose of any surplus water to the best interest
and advantage of the said company, and all such contracts
to rescind, alter, abridge or enlarge, with consent of the parties |
Powers of president
and directors. |
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