648 ARTICLE 23.

at their annual meetings. A majority of the board shall constitute a quorum
for the transaction of business.

Under secs. 65 and 66 of the Code of 1904, held that the stockholders who attended
the annual meeting for the election of directors, were entitled to elect, whether they
held a majority of the stock or not. No by-law can alter or abridge the terms
of the statute law. Darrin v. Hoff, 99 Md. 496.

As to the election of directors of railroad companies, see sec. 202.

See notes to sec. 13.

An. Code, sec. 8A. 1916, ch. 596, sec. 8A.

11. Every corporation of this State incorporated on or after June 1,
1916, shall have at least one resident agent in charge of its principal office
in this State. Such resident agent shall be a citizen of this State, actually
residing therein, or a corporation of this State. Any corporation of this
State incorporated prior to June 1, 1916, which files with the State Tax
Commission the location of its principal office and the name and postoffice
address of at least one resident agent, (giving in each case the county and
city, town or place and street and number, if number there be), need not
thereafter have a director who is a citizen or resident of this State but shall
be thenceforth subject to the provisions of this section relating to corpora-
tions formed on or after June 1, 1916. No amendment of the charter of
any such corporation shall be necessary to change the location of the prin-
cipal office of such corporation from one place in a county or the City of
Baltimore to another place in such county or city, or to make any change
whatsoever in the names or addresses of any resident agents. Every such
corporation shall notify the State Tax Commission promptly of any change
(not made by amendment) in the location of its principal office, or in the
name or postoffice address of any resident agent, (giving in each case the
county and city, town or place, street and number, if number there be).
The State Tax Commission shall keep a public index of the locations of the
principal offices and the names and addresses of the resident agents of all
such corporations. Every corporation of this State incorporated prior to
June 1, 1916, not complying with this section, shall have at least one direc-
tor who is a citizen of this State actually residing therein.

An. Code, sec. 9. 1908, ch. 240, sec. 9. 1916, ch. 596, sec. 9.

12. Every corporation subject to the provision of this article shall have
a president, a secretary and a treasurer, all of whom shall be chosen by the
board of directors unless the by-laws otherwise provide. The President
shall be chosen from among the directors. The corporation may have one
or more vice-presidents, assistant secretaries and assistant treasurers, if
the by-laws so provide, all of whom shall be chosen by the board of directors,
unless the by-laws otherwise provide. Any two of the above offices, except
those of President and Vice-President, may, if provided by the by-laws, be
held by the same person, but no officer shall execute, acknowledge or verify
any instrument in more than one capacity, if such instrument is required
by law or by the by-laws to be executed, acknowledged or verified by any
two or more officers. Except when otherwise provided the directors and offi-
cers hereinbefore mentioned shall hold office for one year and until their