1835.

LAWS OF MARYLAND,

SEC. 5. And be it enacted, That when two thousand

CHAP. 65.

First Directors

shares or more of said stock shall have been subscrib-

ed, the said commissioners, that is to say — William E.

Mayhew, John B. Howell, Thomas R. Matthews,

James Corner, Charles R. Pearce, William C. Shaw,

John Hopkins, William H. Beatty and George W. Rich-

ardson, shall be considered, and are hereby declared to

be Directors of said company until the first Monday in

March, eighteen hundred and thirty-seven; and these

said directors, or a majority of them, shall as soon as

convenient, meet and choose from among the stockhold-

ers, a President, and otherwise prepare the company

for transacting such business as this act authorises,

Annual meeting

and on the first Monday in March, in each and every

year thereafter, it shall be the duty of the President and

Directors to call a meeting of the stockholders, by giv-

ing at least ten days notice in not less than two public

newspapers in the city of Baltimore, for the purpose of

For electing direc-tors

electing from among the stockholders, nine directors

for the ensuing year, and at the first meeting of the

Directors, so chosen after the election, they shall elect

President

from among the stockholders a President; at all such

elections for Directors, they shall be elected by a plu-

rality of votes of the stockholders, present or by proxy,

each stockholder having as many votes as he holds

Case of omission

shares, and should it so happen from any cause what-

soever, that the annual election of Directors should not

take place in any year, on the day hereinbefore men-

tioned for that purpose, this company shall not for that

reason be dissolved, but such election may be lawfully

held on such convenient day thereafter as may be fixed

on by the President and Directors, or a majority of

them, they causing ten days public notice thereof to be

given in not less than two public newspapers in the city

Vacancy

of Baltimore, and in case of death, resignation or dis-

qualification of a director, the place of such Director,

for the remainder of the year, shall be filled up by the

hoard of Directors for the time being.

May insure

SEC. 6. And be it enacted, That the President and

Directors shall have full power and authority to make

insurance against loss or damage by fire, and generally