360

LAWS OF MARYLAND.

same shall be done under the supervision of the town com-

missioners, and when within Dorchester County, the same

shall be done under the supervision of the County Commis-

sioners of Dorchester County.

SEC. 6. And be it enacted, That the directors of said

Powers of

corporation shall have full power to adopt such by-laws,

directors

rules and regulations for the direction and management of

said corporation as may in their judgment be necessary for

the purpose of their incorporation not inconsistent with the

provisions of this charter and the laws and constitution of

this State, and the president and directors of said corpora-

tion or a majority of them, shall constitute, appoint and

employ such officers, agents, and servants for the construc-

tion, preservation and repair of the said line and property

and the transaction of all other business of said corpora-

tion, with full power to fix their compensation and to

remove at pleasure.

SEC. 7. And be it enacted, That should said president

Increase

and directors determine to increase the capital stock of said

capital

corporation, as authorized in the second section of this act,

they, or a majority of them, shall give the same notice of

the time and place of subscribing such additional stock as

is provided in section three of this act preliminary to the

election of a president and directors.

SEC. 8. And be it enacted, That upon every subscription

Instal-
ments to

of said stock, whether under section two or section seven of

be paid.

this act, there shall be paid to the incorporators or their

agents, the sum of ten dollars on each and every share sub-

scribed and the residue shall be paid in such installments

and at such times as the president and directors shall pre-

scribe and require, and if any subscriber shall neglect to

pay any installment for the space of thirty days after the

same shall be due and payable, the stock on which it is due

and demanded, shall, at the discretion of said president and

directors, be forfeited to the corporation, provided, never-

theless, that nothing herein contained shall be construed to

prevent said corporation from suing for and recovering such

unpaid installments in like manner as other debts and claims

are recoverable.

Effective.

SEC. 9. And be it enacted, That this act shall take effect

from the date of its passage.

Approved March 31st, 1892.