92

LAWS OF MARYLAND.

and stating the nature of the business specified in said requi-

sition; and any resolution or proceeding passed or held at

such meeting by a majority of the voting shares present shall

be binding on the president, directors and agents of the com-

pany.

SEC. 6. And be it enacted, That the directors, or a major-

Appointment
of employees

ity of them, shall have the authority to appoint or employ

' such officers, agents and clerks for said company; and the

managers shall have the authority to employ such laborers

and servants as may be necessary from time to time for the

purpose of properly operating the farm of said company; the

wages of said officers, agents, clerks to be fixed by the said

board of directors, and that of the laborers and servants to

be fixed and paid by the manager, by and with the approval of

the said board of directors or a majority thereof.

SEC. 7. And be it enacted. That the directors herein named

Organization.

shall have the power to open books for subscription to the

capital stock of said corporation, and when at least twenty-

five per cent, of the capital stock herein authorized has been

subscribed, may organize said corporation, and shall have

power to regulate by by-laws or resolutions, the manner and

terms of payment or subscriptions to the capital stock.

SEC. 8. And be it enacted. That the said corporation and

Powers, privi-
leges, etc.

the board of directors thereof shall, in addition to the powers

herein granted, have and enjoy, in all respects, all the powers.

privileges, benefits and advantages which now are or may

hereafter be conferred by the Public General Laws of Mary-

land, relating to corporations formed, or to be formed, in

accordance with the provisions thereof, to carry on its opera-

tions or fulfil the purposes named in this Act, and the cor-

poration hereby formed shall in all respects, except in so far

as is inconsistent with the provisions of this Act, be subject

to the provisions and regulations of the Public General Laws

of Maryland relating to corporations contained in the Article

in reference to corporations formed or to be formed thereunder.

SEC. 9. And be it enacted, That the Legislature hereby re-

Right to
amend Act.

serves to itself the right to amend, alter or repeal this Act at

its pleasure.

SEC. 10. And be it enacted, That this Act shall take effect

from the date of its passage.

Approved March 15, 1904.