34

CORPORATIONS. [ART. 26.

transaction of business, and every decision of a majority
of the persons duly assembled as a board, shall be valid
as a corporate act.

Evidence of
by-laws.

4. A copy of any by-law of any corporation incor-
porated under the laws of this state, under its seal and
purporting to be signed by the president, secretary or
treasurer of the corporation, shall be received as prima
fade evidence of such by-law in the courts of this state.

Accounts of
transactions
open to inspec
tion.

5. The president and directors of every corporation
- shall keep full, fair and correct accounts of their trans-
actions, which shall be open at all times to the inspec-
tion of the stockholders or members, and they shall

Annual state-
ment.

annually prepare a full and true statement of the affairs
of the corporation, which shall be certified to by the
president and secretary and submitted at the annual
meeting of the stockholders or members.

General meet-
Ing of stock-
holders-.

Notice

6. General meetings of the stockholders of any cor-
poration, incorporated under the laws of this state, may
be called at any time upon the requirements of stock-
holders entitled to vote a majority of the stock of said
corporation, of which meeting not less than ten days'
notice shall be given in a newspaper published in the
county in which the principal place of business of said
corporation is situate, and also in a newspaper pub-
lished in the city of Baltimore, and when said princi-
pal place of business is situate in said city then in two
newspapers published therein, and if the president and
directors refuse to call such meeting, the said stock-
holders so owning a majority of said stock may do so
on giving notice as above set forth.

Removal from
office.

7. At any general meeting of the stockholders, called
as provided for in the next preceding section, any pres-
ident, director or directors of said corporation may, by
a vote of a majority in interest of the whole number of
stockholders, be removed from office, and another or
others be appointed in the place of the person or per-
sons so removed to serve for the remainder of his or
their turn.

Notice to can-
vass votes at
election.

8. Whenever five or more stockholders of any pri-
vate corporation, created under the laws of this state,