THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

and every year thereafter, at such stated time as

may be directed by the by-laws, during the existence

CHAP. 301

of said company, and such directors so elected shall

continue to act until a new election of directors shall

take place, and in case of the death, removal or resig-

Vacancy

nation of any director, his place shall be filled by the

company, and he shall serve until the regular period

for election of directors under the by-laws.

SEC. 3. And be it enacted, That the directors shall

Officers

have authority to appoint annually, a president and

such other officers, as by the by-laws may he directed,

and at such time as the said by-laws may prescribe,

which said officers may be selected from the board of

directors, or from the body of the members of the com-

pany, and the said officers shall execute and perform

such duties as may by the by-laws be required.

SEC 4. And be it enacted, That the said company

May hold real es-

is hereby authorised to purchase, hold, occupy, possess

tate

and enjoy such land and real estate, and such articles,

implements and utensils, as may be deemed necessary

to carry into full effect the objects of this association.

SEC. 5. And be it enacted, That it shall be the duty.

To enter names of

of the directors to cause to be entered in a book to be

stockholders

provided for the purpose, the names of all the stock-

holders with their respective number of shares, and in

case any of the stock should be transferred to any per-

son not now a member of the company, his or her name,

with his or her amount of stock, shall also be entered

therein, and it is expressly made the duty of the di-

Directors to super-

rectors to superintend and direct all the operations of

intend

the company, subject to, and under the control of, such

general rules, orders, regulations and bylaws, as the

company in general meeting may direct: to make a full

report of their proceedings, not less than twice in each

and every year, at such time, as may be required by

the by-laws, or as often in any one year as the compa-

ny may order; to keep fair and accurate minutes of

Minute of proceed-

their proceedings, in a book to be provided for that

ings

purpose, which shall be at all times open to the exa-

mination of stockholders, and for the performance of

Quorum

all their duties, four members of the board of directors

shall constitute a quorum.