PHILLIPS LEE GOLDSBOROUGH, ESQ., GOVERNOR. 631

the ensuing annual meeting or until their successors shall have
been duly elected and qualified; and the directors so elected of
said company, when it shall have been organized, may have
and they are hereby authorized and empowered to have and
to exercise, in the name and on behalf of the company, all rights
and privileges which are hereby intended to be given; and
should the capital stock, from time to time, or at any time or
times be increased, the stockholders at the time of such increase
or increases shall be entitled to subscribe to a pro rata share
of such increase or increases, upon" the payment of such price
at par or above par for said stock as may be determined upon
by a vote of the majority of the stockholders of said corpora-
tion at the time of such increase or increases; and in case of
the failure of any of the stockholders to subscribe and pay for
their pro rata share of said stock at the price and within the
time named in said resolution or resolutions, then the board of
directors shall have the power to sell said .stock, payable in
instalments, to such persons or corporations as they may see
fit. not, however, below the price fixed in said resolution or
resolutions.

SEC. 3. And be it enacted, That this act shall take effect
from the date of its passage.

Approved April 15, 1912.

CHAPTER 450.

AN ACT to provide for the codification of all the Local Laws
enacted by the General Assembly of Maryland relating to and
affecting Worcester county, Maryland, authorizing the
County Commissioners of Worcester County to levy a sum.
of money to pay for the same.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That John W. Staton, of Worcester county, Maryland, is
hereby authorized to codify all Local Laws enacted by the Gen-
eral Assembly of Maryland, relating to and affecting Worces-
ter county, including such as may be passed by the General
Assembly of nineteen hundred .and twelve, upon the completion
of his work and the filing of a typewritten copy thereof with the
County Commissioners of Worcester County; the said County-
Commissioners are hereby authorized to present the same to
a member of the General Assembly of nineten hundred and
fourteen for proper enactment.