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THOMAS W. VEAZEY, ESQUIRE, GOVERNOR,
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1835.
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SEC. 3. And be it enacted, That there shall he an
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annual meeting of the stockholders of the said corpora-
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CHAP. 244. Annual meetings
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tion on the first day of April, or within ten days there-
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after, for the purpose of choosing five directors to
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Election of direc-
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manage all the concerns thereof, who shall be elected
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tors
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by ballot, in person or by proxy, and each share shall
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entitle the holder thereof to one vote: Any general
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Ordinances
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meeting of stockholders, at which shall be present a
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majority in value, shall be competent to pass ordinan-
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ces which shall be binding on the corporation.
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SEC. 4. And be it enacted, That the board of Direc-
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President
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tors, three of whom shall be a quorum, shall appoint
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from among their number a President, a Treasurer
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and a Secretary, and shall fill up all vacancies which
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shall happen in their body during the year; the Direc-
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powers of direc-
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tors are authorised and empowered to establish regula-
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tors
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tions for the transfer of the stock of the corporation,
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and for proof of the ownership therein; to employ,
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compensate and dismiss, at pleasure, all officers and
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agents deemed by them needful, or useful; to enter in-
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to contracts, and to use therefor the name and seal,
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or the name of the corporation; and to make by-laws
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and regulations, and to repeal the same at their discre-
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tion; to call meetings of the stockholders as often as
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they see fit, to whom they shall make report from time
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to time, of the state of their affairs; to declare divi-
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dends of the profits, or any portion of the profits there-
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of, according to their judgment, and generally to ex-
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ercise all the powers and privileges conferred on or
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appertaining to this corporation; Provided, the same
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be not incompatible with the ordinances passed at
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general meeting of the stockholders as aforesaid.
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