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LAWS OF MARYLAND.

depute any other person to vote and act for it, him or her, as its, his or her proxy, and the commissioners aforesaid, or any three or more of them, shall be the judges of the said first election of directors.

Succession.

SEC. 11. And be it enacted, That to continue the succession of the president and directors of said company, twelve directors shall be chosen annually on the first Monday of May in every year, in the county or city, in which the principal office of the said company shall be located by the stockholders of said company.

Appoint judges.

SEC. 12. And be it enacted, That the directors of said company, or a majority of them, shall have power to appoint judges of all elections, and to elect a president of said company either from among the directors or others, and to allow him such compensation for his services as they may deem proper, and if any vacancy shall occur by death, resignation or refusal to act of any president or director, before the year for which he was elected has expired, a person to fill such vacant place for the residue of the year may be appointed by the president and directors of said company, or a majority of them; and the president and directors of the company shall hold and

Elections.

exercise their offices until a new election of president and directors, and all elections which are by this act or by the by-laws of said company, to be made on a particular day, or at a particular time, if not made on such day, or at such time, may be made within thirty days thereafter.

General meeting.

SEC. 13. And be it enacted, That a general meeting of the stockholders of said company shall be held annually at the time and place appointed for the election of the president and directors of said company, but they may be called at any time during the interval between said annual meetings by the president and directors, or a majority of them, or by stockholders owning at least one-fourth of the whole stock subscribed, upon giving thirty days' public notice of the time and place of holding the same, in the same manner as prescribed for giving notice for opening books of subscription; and when any such meetings are called by the stockholders, such, notice