1835.

LAWS OF MARYLAND.

CHAP. 26.

SEC. 4. And be it enacted, That general meetings of

General and spe-

the stockholders shall be called by the said President

metting— quo-rum, &c..

and Directors, as often as they shall think proper, or

as the said stockholders may in their by-laws direct,

and that special meetings may be called at any time by

the President or a Director, or by any number of

stockholders, who shall be proprietors of not less than

one fourth of the whole capital stock, first giving ten

days notice of such meeting and its objects, in writing

to each stockholder, or by advertisement in at least

two newspapers published daily in the city of Balti-

more; and in any meeting of the stockholders, a quo-

rum for tfie transaction of any business, other than the

election of the President and Directors, shall consist of

the proprietors, or the owners, and representatives of

the owners, of at least the major part of the capital

stock, and every such meeting shall have full power

and authority to pass, amend, alter and repeal by-laws

and regulations for the management of the affairs of

said corporation, which shall, whilst in force, be bind-

ing therein on the President and Directors of the said

company, their officers, agents and servants, the same

not being contrary to law or the provisions of this act.

Liability for mis-

SEC. 5. And be it enacted, That if the debts which

management

the said corporation may at any time owe, shall exceed

the amount of two-thirds of its capital actually paid

in, the Directors, under whose administration this may

happen, shall be liable for the same in their natural

and private capacities; and an action may in such case

be brought against them, or any of them, or their heirs,

executors or administrators, in any court of record in

this State, by any creditor or creditors of the said

corporation, and may be prosecuted to judgment and

execution, any condition, covenantor agreement to the

contrary notwithstanding; but nothing herein contained

shall be construed to exempt the said corporation, or

the lands, tenements, goods, chattels and estate of the

same, from being also liable for and chargeable with,

Method of exhon-

the said excess; Provided always, that such of the said

erating

Directors as may have been absent when the s'aid ex-

cess was created, or who may have dissented from the

resolution or act whereby the same was created, may