GEORGE HOWARD, ESQ. GOVERNOR.

1831

be made on a particular day or at a particular time, if not

CHAP. 288.

made on such day or at such time, may be made at any

time within thirty days thereafter.

Sec. 7. And be it enacted, That a general meeting of the

Annual general

stockholders of said company shall be held annually, at the

meeting.

time and place appointed for the election of the president

and directors of said company, that they may be called at

Special general

any time during the interval between said annual meetings,

meetings

by the president and directors, 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

meetings are called by the stockholders, such notice shall

specify the particular object of the call; and if, at any
such called meetings, a majority, in value, of the stock-

Notice and object
to be specified.

holders of said company are not present in person or by

proxy, such meetings shall be adjourned from day to day

Quorum required

without transacting any business, for any time not exceed-

ing three days, and if within said three days, stockholders

having a majority, in value, of the stock subscribed, do not

thus attend, such meeting shall be dissolved.

Sec. 8. And be it enacted,That at the regular annual meetings

Annual statement

of the stockholders of said company, it shall be the duty

of affairs.

of the president and directors in office for the preceding

year, to exhibit a clear and distinct statement of the affairs

of the company; that at any called meetings of the stock-

holders, a majority of those present may require similar

statements from the president and directors, whose duty it

shall be to furnish them when thus required, and that at all

general meetings of the stockholders, a majority, in value,

of all the stockholders in said company, may remove from

Power to remove
& appoint officers.

office any president, or any of the directors of said com-

pany, and may appoint others in their stead.

Sec. 9. And be it enacted, That if any of the said ten

Directors may re-

thousand shares of the capital stock of said company, shall

open books of
subscription.

remain unsubscribed until the organization of the said com-

pany, the directors of the said company shall have power to

open books, and to receive subscriptions to any of the cap-

ital stock of said company, which may thus remain unsub-

scribed for, or to sell or dispose of such unsubscribed stock

for the benefit of the company, for any sum not under its

Or sell stock.

par value; and the purchasers or subscribers of such stock,

shall have all the rights, powers, and privileges, of original

subscribers, and shall be subject to the same regulations.

Sec. 10. And be it enacted, That the said directors, or a

Power of directors.

majority of them, with, or without the president, when met

as a board, shall have power to appoint all such officers,

Emply agents