THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

said company, and generally to do all such acts, and

CHAP. 392

pass all such ordinances and regulations for the bene-

fit and well ordering of the business of the said com-

pany, as they shall think proper, the same not being

contrary to the by-laws of the stockholders, nor to

any law of this State, and in case of any vacancy,

happening in the presidency or directory of said com-

pany, the remaining Directors shall fill the same by

chusing a president or director as the case may be,

from amongst the stockholders, to serve until the next

election, and for the transaction of any business here-

Quorum

by confided to the president and directors, a majority

of them shall be a quorum.

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

General meetings

the stockholders shall be called by the said president

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 tjme by the

Special meetings

president or a director, or by any number of stockhol-

ders, who shall be proprietors of not less than one-

fourth of the whole capital stuck, 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 Baltimore,

and in any meeting of the stockholders, a quorum for

the transaction of any business, other than the election

of the president and directors shall consist of the pro-

prietors, or the owners and representatives of the own-

ers of at least the major part of the capital stock, and

every such meeting shall have full power and authority

Powers

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

tions for the management of the affairs of said corpora-

tion, which shall whilst in force be binding therein im

the president and directors of the said company, their

officers, agents and servants, the same not being con-

trary to law, or the, provisions of this act.

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

Liability in case of

the said corporation may at any time owe, shall exceed

debtss exceeding capital

the amount of its capital actually paid in, the direct-

ors under whose administration this may happen, shall

be liable for such excess, in their natural and private

capacities, and an action may in such case be brought