| 1818.
CHAP. 73.
President and directors
to make
by-laws, &c. |
LAWS OF MARYLAND.
11. AND BE IT ENACTED, That the stockholders
at every general
meeting shall have power to make and ordain all such by-laws,
rules and regulations, as they may think necessary for the well ordering
the business of said corporation, not contrary to the constitution
or laws of the United States, or of the states of Maryland
or Virginia. |
Election of directors
to be by ballot. |
12. AND BE IT ENACTED, That the election of
directors shall be
by ballot, and before every election the directors for the time being
shall appoint three stockholders, not being directors, to conduct the
election, who, or a majority of them, shall receive and count the
ballots, and declare in writing the persons elected to serve as directors
for the then ensuing year. |
If amount subscribed
should not be
sufficient, books
may be again opened. |
13. AND BE IT ENACTED, That if it should be
found that the
amount which may be subscribed for, or the amount authorised to
be subscribed for as aforesaid, shall not be sufficient to complete said
bridge, the president and directors shall have power to direct books
to be opened at such times, and such places, and under the direction
of such commissioners, as they may think proper, for such an additional
amount of stock as by them may be deemed necessary to
complete the same, and said president and directors shall have
power to call for such instalments from the stockholders, from time
to time, as they may think necessary. |
Stockholders failing
to pay any instalment
for one month to forfeit
sums before paid,
&c. |
14. AND BE IT ENACTED, That if any stockholder
should fail to
pay, on receiving due notice, any instalment which may at any time
be called for, for the space of one month, he shall forfeit the sum
or sums before paid by him on his stock to the use of the said corporation,
and shall also forfeit his right to said stock on account
of which he shall be delinquent; and the said president and directors
shall have power to sell said stock for the use of said corporation,
and the purchaser or purchasers of the same shall be considered
a stockholder or stockholders in said corporation, to all intents
and purposes; and if any forfeited share or shares of stock
shall not produce on sale a sum sufficient to discharge the balance
due thereon, and the expenses of sale, the said delinquent stockholder
or stockholders shall remain liable for the balance due. |
Bridge to be constructed
so as not
to obstruct navigation
of river. |
15. AND BE IT ENACTED, That the aforesaid
bridge and piers
thereof, shall be constructed in such a manner as not to obstruct
the navigation of said river. |
Rights to be common
to citizens of
Maryland and
Virginia. |
16. AND BE IT ENACTED, That all the rights
and
privileges of the stockholders in said company, shall for ever be
free and common to the citizens of Maryland and Virginia, and that
this act shall be in force as soon as the legislature of Virginia shall
assent to the provisions thereof, and shall make provision for the
abutment of said bridge on the Virginia shore. |
Proprietor of ferry
at Shepherd's
town permitted to
subscribe, &c. |
17. AND BE IT ENACTED, That the proprietor
or proprietors of
the ferry, and ferry landing, at Shepherd's town, shall be permitted
to subscribe on the day the books are first opened, the whole
amount of the sum they may be entitled to receive as a compensation
for their property taken by the company aforesaid, or any part
thereof, any thing in this act contained to the contrary notwithstanding. |
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