| 1804. |
LAWS OF MARYLAND.
second before-mentioned company by the name of The President,
Managers and Company, of the Baltimore and Reister's-town
Turnpike Road, and the third before-mentioned company by the
name of The President, Managers and Company, of the Baltimore
and York-town Turnpike Road, and by the same names the said
subscribers, and their successors, shall have succession during the
continuance of this incorporation, and shall have all the privileges
and franchises of, or incident to, a corporation, and shall be capable
of taking and holding the said capital stock, and the increase
and profits thereof, and of enlarging the same from time to time by
new subscriptions on the original terms, 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 and taking
to them, and their successors, in fee-simple, and 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, provided the said real estate shall not exceed twenty
acres in any one lot or parcel, and of suing and being sued, answer
and being answered; and each of the said companies shall have
power to make a seal, and alter, and break and renew the same,
according to their will and pleasure. |
Manner in which
subscriptions are
to be paid. |
6. AND BE IT ENACTED, That the sums so subscribed
shall be
paid to the managers elected agreeably to this act, in the manner
following, to wit: One fourth part thereof, (including the one dollar
paid to the commissioners at the time of subscribing,) at the
end of one month after the election of managers, one fourth part at
the end of six months after the election of managers, and the remainder
in such sums, and at such times, as the managers may appoint,
they giving two months notice of the payments so required in
each of the aforementioned papers. |
Companies to
meet. |
7. AND BE IT ENACTED, That the first before-mentioned
company
shall meet on the first Monday in October next, and on the
first Monday in October in each succeeding year; the second before-mentioned
company shall meet on the second Monday in October
next, and on the second Monday in October in each succeeding
year; and the third before mentioned company shall meet on the
third Monday in October next, and on the third Monday in October
in each succeeding year, for the purpose of choosing such other
officers as aforesaid for the ensuing year, in manner aforesaid, and
at such other times as they shall be summoned, in such manner and
form as shall be prescribed by their respective by-laws; at which
annual or special meetings they shall have full power and authority
to make, alter or repeal, by a majority of votes, in manner aforesaid,
all such by-laws, rules, orders and regulations, made as aforesaid,
and to do and perform any other corporate act herein authorised. |
Certificates of
stock—Transfers. |
8. AND BE IT ENACTED, That the respective
presidents and managers,
first chosen as aforesaid, shall procure certificates for all
the shares of the stock of the said company, and shall deliver one
such certificate, signed by the president, and countersigned by the
treasurer, and sealed with the common seal of the said respective
company, to each person or persons for every share by him, her or
them subscribed and held, he, she or they, having paid to the commissioners
aforesaid one dollar for each share, which certificate |
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