JOHN LEE CARROLL, ESQUIRE, GOVERNOR. 279

SEC. 2. And be it enacted, That the capital stock	Capital stock.
of the said corporation shall he one hundred and fifty thousand dollars, in shares of fifteen dollars
each.
SEC. 3. And be it enacted, That the affairs of the
said corporation shall be managed by a president
and directors, and the number of directors of the	Number of
said corporation shall not be greater than twelve	directors.
nor less than five, the number to be determined
by the stockholders of the corporation at a general
meeting to be held for the purpose of the first
election of directors to be made after this act shall
as to said corporation take effect, and the number
of directors in said corporation may be changed	Must be a
by the stockholders from time to time within the	stockholder.
limits as to number aforesaid, and no person shall
be a director in the said corporation who is not a
stockholder thereof, and who is not also a citizen
of the State of Maryland.
SEC. 4. And be it enacted, That the following rules,	Rules, restric-
restrictions, limitations and provisions, shall form	tions, &c.
and be fundamental articles of the constitution of
the said corporation, namely :
ARTICLE 1. Every stockholder shall be entitled
to one vote for every share which he, she or it, or
they may hold to the number of not exceeding ten
shares, and to one vote for every additional two
shares to the number of not exceeding one hun-	Votes — how entitled.
dred shares in all, and to one vote for every addi-
tional five shares thereafter ; but no share of stock
shall entitle any holder to a vote which shall not
have been holden four calendar months previous
to the day of election ; and stockholders actually
resident within the United States, and none others,
may vote at elections by proxy.
ART. 2. None but a stockholder being a citizen
of this State shall be eligible as a director or pres- ident, and every president or director, as the case	Eligibility of directors.
may be, shall cease to be a director or president
upon his ceasing to be a citizen of this State, or
stockholder.