DANIEL MARTIN, ESQUIRE, GOVERNOR.
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155
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may be necessary to carry this law into effect, not contrary
to the laws of the United States or of this state, and from
time to time to alter or repeal the same; and to make, exe-
cute and perfect, such and so many contracts, bargains,
agreements, and other instruments, as shall or may be ne-
cessary and as the nature of the case shall or may require.
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1830.
CHAP. 149.
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Sec. 5. And be it enacted, That all contracts, policies,
and other instruments of writing, not under seal, made by
said president and directors, shall be good and valid in law
and equity.
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Contracts to
be valid.
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Sec. 6. And be it enacted, That no transfer of stock
shall he made but in person, or by attorney, in writing, on
the books of said corporation, and with the consent of said
president and directors thereof, and no stockholder indebt-
ed to said corporation shall be permitted to transfer his
or her stock until the debts due by him or her to said cor-
poration shall be fully paid and satisfied.
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Transfers.
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Sec. 7. And be. it enacted, That, it shall be the duty of
the president and directors, on the first Monday in March
in every year, or within ten days thereafter, to appoint
from the stockholders three competent persons as a com-
mittee of examination, whose duty it shall be to investi-
gate the affairs of the company, and to make a report there-
of; and the president and directors shall keep full, fair and
correct entries of their proceedings, which shall at all times
be open to the inspection of the stockholders.
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Committee of
examination.
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Sec. 8. And be it enacted, That it shall be the duty of
said president and directors to make dividends of the pro-
fits of said corporation on the first Monday in January and
July annually.
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Dividends.
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Sec. 9. And be it enacted, That no stockholder shall be
liable for any debts, contracts, nor engagements of said
corporation, but that the money, property, rights and cre-
dits, of the company, shall alone be liable for the same.
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Property a-
lone liable for
debts.
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Sec. 10. And be it enacted. That the president and di-
rectors may at any time call a meeting of the stockholders
of said company, giving at least three weeks notice in two
or more daily newspapers published in the city of Balti-
more, and any number of stockholders, owning not less
than three hundred shares, may at any time apply to the
said president and directors to call a general meeting for
any purpose relative to said corporation, and if the said
president and directors refuse, any number of stockhold-
ers, owning not less than three hundred shares aforesaid,
shall have power to call a general meeting, giving the no-
tice aforesaid in the manner aforesaid, and specifying in such
notice the object of the meeting; and the resolutions pass-
ed at such meeting, by the concurrence of stockholders
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General meet-
infr
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