JAMES THOMAS, ESQUIRE, GOVERNOR.

1833;

Sec. 3. And be it enacted, That the stockholders shall meet at such time and place as the three first named per- sons in this act may appoint, due notice of the same being given, for the election of a President and ten Directors, each share being entitled to one vote, and a plurality of votes being sufficient for an election, which President and Direc- tors when so chosen shall continue in office until the third	CHAP, 256. Election of P. and Directors
Monday in March, eighteen hundred and thirty-five, on which said third Monday in March, and on the third Mon- day in March of each and every year thereafter, there shall be an election for President and Directors, and if it should so happen that the stockholders should omit to elect a Pre- sident and Directors on the third Monday in March, in any year from and after the passage of this set, then and in such case it may be lawful for the stockholders to make said election on some other day, and the President and Direc-	Annual election
tors heretofore in office shall continue therein until such new election takes place: and in case of death, resignation, disqualification, or refusal to act, of any President and Di- rector it shall be in the power of the remainder to fill up the vacancy occasioned thereby; and the said President	Vacancies
and Directors so chosen shall have power and authority to appoint all such officers, agents and servants, as they shall deem necessary to conduct or execute the business and af- fairs of the corporation; to fix their compensation, and in their discretion to dismiss them, to provide for taking of bonds to the corporation from all or any such officers,agents and servants by them appointed, with security conditioned in such form as they shall prescribe, for the faithful dis- charge of their trusts and duties, and to secure the corpo- ration from loss.	Powers vented
Sec. 4. And be it enacted, That the President and Di- rectors shall have power to receive endowments of per- sonal or mixed property for a term of years in trust, to grant annuities, to contract for reversionary payments, to receive from any free person any deposite or deposites of money in trust, to make all kinds of contracts in which the casualties of life and interest of money are involved, and to provide for the investment of the funds of the company in such stock and mortgages, other than mere choses in ac- tion, in such manner as they shall deem most safe and ben- eficial; they shall have power to fix the places, and mode of transfer of certificates of stock, and payment of inter- est, and generally to pass all such by laws as may be ne- cessary to carry this law into effect, not contrary to the	General powers.