1831.

LAWS OF MARYLAND.

CHAP. 168.

time and place of holding an election for a president and
live directors of the said company, and that in said election,
stockholders may vote in person or by proxy, according to
the number of shares held, to be entitled to one vote for

Judges.

each share, and the commissioners aforesaid, or any three
or more of them, shall be judges of the said first election
of directors, and any stockholder shall be eligible as pre-
sident and director, and the said commissioners shall de-

Deliver over.

liver over the original subscriptions to the president and di-
rectors immediately after their election.

Annual election of
directors.

Sec. 7. And be it enacted, That to continue the succession
of the presidet and directors of said company, six directors
shall be chosen annually, after notice as aforesaid, on the
first Monday of April in every year, in the town of Cum-
berland, by the stockholders of said company, and that if
the state of Maryland, shall at any time subscribe the
amount of shares reserved, she shall have the privilege of

State directors.

appointing one director for the thousand shares so reserved,
at the time of such election, but shall not be permitted to
vote upon their stock in the election of the directors by the
stockholders in general meeting, and that the directors of

General powers of
directors.

said company, or a majority of them, shall have power to
appoint judges of all elections, and to elect a president of
said company from amongst the directors, and to allow him
such compensation for his services as they may deem pro-
per, and if any vacancy shall occur by death, resignation or
refusal to act, of any president or directors, before the year
for which he or they may have been elected has expired,
a person or persons to fill such vacancy or vacancies, for
the residue of the year, may be appointed by the president
and directors of said company, or a majority of them, and
that the president and directors of the company shall hold

Term of Office.

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

General meetings.

Sec. 8. And be it enacted, That a general meeting of
the stockholders of the said company shall beheld annually,
at the time and place appointed by the president and direc-
tors of said company, or a majority of them, or by the
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, and when any such
meeting [ ] called by the stockholders, such notice shall
specify the particular object of the call, and if at any such