540
|
LAWS OF MARYLAND.
|
Elect seven
directors
|
dent from among the directors, and in said election
|
 
|
and all other elections by the stockholders of the said
|
 
|
company, each shall be allowed one vote for every
|
 
|
share owned by him or her, and every stockholder
|
 
|
may vote either in person or by proxy, and the com-
|
 
|
missioners aforesaid or any three or more of them
|
 
|
shall be the judges of the first election of directors.
|
 
|
SEC. 4. And be it enacted, That the President and
|
Term or service
|
Directors elected at the first meeting of said stock-
|
 
|
holders, shall serve until the first Monday in January
|
 
|
thereafter, or until their successors shall be elected;
|
 
|
and to continue the succession of said company a
|
 
|
general meeting of the stockholders shall be held
|
 
|
annually, on the first Monday in January, at which
|
 
|
meeting a Board of Directors shall be elected as-
|
 
|
aforesaid, to serve for one year or until their succes-
|
 
|
sors shall be elected, and other meetings may be-
|
 
|
called of the stockholders by the President and
|
 
|
Directors or a majority of them, according to such
|
 
|
rules as may be established by the by-laws of the
|
 
|
company; and the Board of Directors may meet as
|
 
|
often as may he necessary for the transaction of the
|
 
|
business of the company.
|
Par value
|
SEC. 5. And be it enacted, That the shares of stock
|
 
|
of said company shall be twenty dollars each, and
|
 
|
that the sum so subscribed for the stock of said
|
 
|
company shall be paid to the President and Di-
|
 
|
rectors aforesaid, in such instalments and at such
|
 
|
times as they may appoint and require.
|
 
|
SEC 6. And be it enacted, That the company hereby
|
To malic and
construct
|
incorporated, shall have power to make and construct
|
 
|
a continuous turnpike road from west Friendship,
|
 
|
near the nineteen mile stone on the Frederick Turn-
|
 
|
pike, to Linden, over the present bed of the county
|
 
|
road or roads leading thereto, except where it may-
|
 
|
be deemed expedient to improve the course or grade
|
 
|
of said road, in which case the process prescribed by
|
 
|
law for such alterations in similar cases shall be
|
 
|
followed.
|
Completed
|
SEC. 7. And be it enacted, That whenever said road
|
 
|
shall he completed, or the said company may erect
|
 
|
one or more toll-gates upon said roads, but not
|
 
|
within three miles of each other, and may charge
|