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ROBERT BOWIE, ESQUIRE, GOVERNOR.
company; Provided always, that no person shall have more than
ten votes in any election, or in determining any question arising at
such meeting, whatever number of shares he, she or they may be
entitled to, and that each person be entitled to one vote for each
share so held under the said number of ten. |
1804.
CHAP. 91.
Proviso. |
4. AND BE IT ENACTED, That the stockholders
in the said company
shall be and they are hereby incorporated and constituted a
body politic, by the name of The President, Managers and Company,
of the Falls Turnpike Road, and by the same name 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, and 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 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 fifty acres,
and
of suing and being sued, answering and being answered, to make a
seal, and alter, break and renew the same, according to their will
and pleasure. |
Stockholders incorporated
—capital
stock may be
enlarged. |
5. AND BE IT ENACTED, That the sums so subscribed
shall be
paid to the managers elected agreeably to this act, in the following
manner, to wit: One fourth part thereof, (including the five
dollars
paid to the commissioners at the time of subscribing,) at the end
of one month 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 papers published in the city of Baltimore. |
Payments, how
to be made. |
6. AND BE IT ENACTED, That the stockholders
in the said company
shall meet in the city of Baltimore on the first Tuesday in
October next, and on the first Tuesday in October in each succeeding
year, for the purpose of choosing a president, six managers
and a treasurer, and such other officers as may be deemed necessary,
and the said stockholders shall meet at such other times as
they shall be summoned, in such manner and form as shall be prescribed
by their by-laws, rules, orders and regulations, made as
aforesaid, and to do and perform any other corporate act as herein
authorised. |
Times of meeting. |
7. AND BE IT ENACTED, That the president and
managers,
chosen as aforesaid, shall procure certificates for all the shares
of
the stock of said company, and shall deliver over such certificate,
signed by the president, and countersigned by the treasurer, and
sealed with the common seal of the said company, to each person
or persons for every share by him or them subscribed and held, he,
she or they, having paid to the commissioners aforesaid five dollars
for each share as aforesaid, which certificate shall be transferrable
at his pleasure, in person, or by attorney duly authorised, in the
presence of the president or treasurer, subject however to all payments
due, and to become due thereon, and the assignee holding
any certificate, having first caused the assignment to be entered in |
Certificates of
stock to be delivered
to persons
for each share
held. |
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