242

LAWS OF MARYLAND.

City of Baltimore, shall be the rules for the govern-
ment of the body hereby created, until the same
shall be regularly repealed or altered, and that the
present corporators, of the said Stock Exchange of
the City of Baltimore, shall be directors of the body
hereby created until the regular time for the election
of officers as prescribed by the by-laws of the organ-
ization.

Management.

SEC. 3. And be it enacted, That the property, affairs,
business and concerns of the corporation hereby
created, shall be managed by a board of directors
consisting of five members of the association, to be
elected annually at such time and place as may 'be
provided for in- the by-laws, which board shall elect
a president, treasurer and secretary, whose duties
shall be respectively prescribed by the by-laws of the
corporation; all vacancies which may occur in the

Fill vacancies

said board by death, resignation or otherwise, shall
be filled by the said board; a majority of the mem-
bers of such boards shall constitute a quorum for the
transaction of business.

Qualifications

SEC. i. And be it enacted, That said corporation
shall have the power to prescribe and regulate by
such by-laws, as it may see fit to adopt, the qualifi-
cation of its members, and all matters and things
relating. to their admission, rejection, suspension and
exclusion; no person shall be entitled to the privi-
lege of membership except in conformity with such
by-laws, and unless he shall likewise be a resident
of the State of Maryland or having a place of busi-
ness in the City of Baltimore and shall have first
signed a copy of the constitution and by-laws of said
corporation.

Purposes.

SEC. 5. And be it enacted, That the purposes of said
corporation shall be to provide suitable room or
rooms for a Stock Exchange in the City of Balti-
more, to inculcate just and equitable principles, to
establish and maintain uniformity in dealings in
stocks, bonds and other securities, to acquire, pre-
serve and disseminate valuable information as to all
securities, to adjust controversies and misunder-
standings between its members and themselves, or