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ELIHU E. JACKSON, ESQUIRE, GOVERNOR.
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647
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ing for its consideration and action; and at all annual or special
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meetings of stockholders where the question of the increase of
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the capital stock of this company is to be considered, a quorum
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shall consist of stockholders owning at least one-half of the
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capital stock; but at all other annual or special meetings of
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stockholders a quorum shall consist of stockholders owning at
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least one-third of the capital stock; and in case of any failure to
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elect directors at the time fixed therefor by the fourth section of
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this act, the old directors shall remain as officers until an elec-
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tion is held; and a call shall be issued and published in at least
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one weekly newspaper published in Baltimore county, and also
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in at least one daily newspaper published in Baltimore city, giv-
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ing at least ten days notice of the time and place fixed for another
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meeting of stockholders to elect directors; and the board of
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directors shall have power to fill vacancies occurring in their
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body between the annual elections of directors.
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SEC. 6. And be it enacted, That the directors shall have power
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to declare such dividends of profits of this company as they may
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Dividends.
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deem proper; provided, that no dividend shall be declared when
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the capital stock would be impaired thereby.
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SEC. 7. Anil be it enacted, That the directors shall have power
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to make by-laws, rules and regulations necessary for the govern-
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ment and management of the affairs of this company not con-
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trary to law which they may deem advantageous to the interest
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By-lews.
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thereof; the directors shall have power to require payments from
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each and every stockholder of the amount remaining unpaid on
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the stock of this company held by stockholders at such times and
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in such proportions as they shall think proper, and under the
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penalty, in case of non-payment as required, of forfeiture to this
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company of such stock and all previous payments thereon; the
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said assessment to be made as the by-laws and rules of this com-
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pany may direct.
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SEC. 8. And be it enacted, That this company is authorized to
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take, have, hold, and enjoy all such estates real, personal and
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mixed as may be obtained by the investment of its capital stock,
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and all other moneys or funds that may come into its possession
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To control
Invest-
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in the course of ita dealing and business, and the same to sell,
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ments.
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grant, mortgage, lease and dispose of at pleasure; and to execute
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and deliver all deeds and other instruments of writing concern-
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ing the same, but it shall not hold the stock of any private in-
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corporated company beyond the market value at the time of ob-
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taining the same of twenty thousand dollars.
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SEC. 9. And be it enacted, That this company shall have power,
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first, to act as the fiscal or transfer agent of any State, municipality,
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body politic or corporation, and in such capacity to receive and
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disburse money, and issue, transfer, register and countersign cer-
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tificates of stock, bonds and other evidences of indebtedness, and to
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