460
LAWS OF MARYLAND.
|
of the county, and if any stockholder, whether original
subscriber or assignee, after the month's notice as aforesaid,
shall neglect or refuse to pay such instalment, at
the place appointed, for the space of thirty days after
the time appointed, the same may be forfeited by and
to the company aforesaid, and may be sold by them for
such price as may be obtained therefor, or in default of
payment of any stockholder of such instalments, as
aforesaid, for the space of thirty days, the president and
managers may, at their election, cause suit to be brought
in the same manner as debts of a like amount are now
recoverable, for the recovery of the same with the costs
of the suit.
|
Election of
managers.
Judges of
elections.
Vacancy—
how filled.
Elections.
General
meetings.
|
SEC. 7. And be it enacted,
That the stockholders in
said company shall on the first Monday in June, eighteen
hundred and fifty-four, and on the same day in each
succeeding year, elect, by ballot aforesaid, for the ensuing
year, nine managers as aforesaid; and the managers
of said company or a majority of them, shall have
power to appoint one or more judges of all elections,
and to elect a president of said company, and to allow
him a compensation for his services, if they shall deem
proper; and if any vacancy shall occur by death, resignation,
refusal to act, or removal from the county, of a
president or manager, a stockholder may be elected by
the managers to fill the vacancy, until the next annual
election; and all elections required to be made on
a particular day, may be made on any other day,
after thirty days notice of such election day in some
newspaper in the county; and general meetings of the
stockholders may be called by any number of the stockholders
not less than ten, nor holding less than one-fourth
of the whole number of shares, to consider any
general interest of said company, and the said general
meeting, if representing more than one-half the
whole number of shares in said company, shall have
power to make, alter or repeal, by a majority of votes
in manner aforesaid, all or any of the by-laws, and
regulations of said company.
|
Quorum.
|
SEC. 8. And be it enacted,
That any five of the
managers, with or without the president, shall constitute
a board and quorum for the transaction of all
kinds of business, and shall be competent to appoint all
such officers, agents and servants whatsoever, as they
may deem necessary for transacting the business
of the company; to fix their compensation, and dismiss
them at pleasure; to provide for requiring and taking
security for the faithful performance of the duty of any
|
|
 |
