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LAWS OF MARYLAND.
or inlets on the Eastern Shore of this state, to the line of the
state of Delaware; and if the owners or any owner of such land
as may be designated, selected, or laid out by the said directors
for a road or landing place, shall be legally incapable of consenting,
or if the said directors cannot from any cause obtain the
consent of any owner or owners of any land deemed by them
necessary for a road or landing place as aforesaid, it shall be the
duty of the sheriff of the county in which such land may be, on
the application or request of the said directors, to summon
within ten days after he shall receive such application, twelve
good and lawful men, freeholders in the said county, not interested
nor related to any of the said owners, or to any member
of the said corporation, as a jury to meet on and examine the
land so deemed necessary for a road or landing, and on their
oaths, to be administered by the said sheriff, carefully and impartially
to enquire and ascertain as well who are the owners
or owner of the land required, as the damages which will be sustained
by each owner of any such land, and make an inquisition
thereof under their hands and seals, which inquisition shall be
returned by the said sheriff to the clerk of the county court of
his county, to be him recorded; and the costs of taking and
recording such inquisition shall be paid by the said corporation,
and on payment of the damages so ascertained, or tendering the
amount thereof to the person or persons entitled to receive the
same, or in case of their refusal to accept, depositing the amount
in the Franklin Bank of Baltimore to the credit of the person or
persons so entitled, the right to use such land for a road or landing
place shall be vested in the said company hereby incorporated. |
157
Dec. Ses. 1825. |
11. And be it enacted, That the directors
shall declare dividends
of the profits realised by the company or of so much thereof
from time to time as a majority of them shall deem expedient,
after reserving such sum as they shall decide to be reasonable,
to meet the expence of repairs, and to provide for the building
or purchase of any new boat, carriage or other articles necessary
for the use of the company. And at the time of each annual
election and also at the time of paying each dividend of profits,
a statement of the affairs of the company shall be exhibited for
the inspection of the stockholders. |
Dividends. |
12. And be it enacted, That the president
and directors or a
majority of them shall have full power after giving at least thirty
days notice, by advertisement inserted in at least one newspaper
in Baltimore, and one in Philadelphia, to forfeit and dispose
of, for the use of the company, any share or shares of stock
upon which one or more instalments shall be due, unless the instalments
so due, with interest thereon from the time when the
same shall have been payable, shall be paid before the day limited
in such notice, or the owner of such stock may be compelled,
by action, to pay all such instalments. |
Shares forfeited. |
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