1835,

LAWS OF MARYLAND.

CHAP. 13.

SEC. 4. And be it enacted, That the directors shall

Book required

cause to be entered in a book prepared for the pur-

pose, the names of all the stockholders, with their re-

spective number of shares; they shall also cause to be

entered in a separate book, each and every transfer,

which shall from time to time be made of any of said

Transfers

shares; the stock shall be assignable and transferable

under such rules and regulations as shall be prescrib-

ed by the society or company; the directors shall also

keep fair and correct entries of their proceedings,

which shall at all times be open to the inspection of

the stockholders, and they shall make an annual ex-

hibit to the company of the state of the business. Any

person who shall refuse or neglect to pay any instal-

ment due on his or her stock, within three months af-

ter he or she shall be notified by the directors that an

Instalments

instalment is due according to the agreement now ex-

isting for the payment of the stock, that is to Bay, five

dollars on every share, every ninety days, if called for,

shall surrender and forfeit such share or shares to the

company, who shall be authorised to keep or sell the

same, or may extend the time of payment to the non-

complying stockholders.

Provision for clo-

SEC. 5. And be it enacted, That at any time here-

sing &c.

after any number of stockholders, holding over two-

thirds of the capital stock, shall have authority if they

deem it necessary, to order the business of the compa-

ny to be brought to a close, and settled according to

the proportions due to each, and the directors for the

time being shall have full power to sell, dispose of,

and convey all the lands and other property of the

concern under the direction of the society or company.

Enlarge the capi-tal

SEC. 6. And be it enacted, That the said company,

if they shall at any time deem it necessary, shall have

power to enlarge the capital stock to any amount not

Distribution of as-

exceeding twenty thousand dollars; at the expiration of

sets

this act, which shall he on the first day of January,

eighteen hundred and seventy-six, if not before altered

or repealed, or at any time when the directors shall

make sale or otherwise dispose of the lands and other

stock of the company, they shall make a faithful and

equitable distribution of the assetts among the stock-