602
LAWS OF MARYLAND.
Affairs—how
managed.
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SEC. 4. And
be it enacted, That for the management
of the affairs of the company, the stockholders
shall elect not less than three directors, who shall remain
in office one year, or until others shall be elected; vacancies
may be filled in the board of directors by those
remaining, who shall serve until the next succeeding
meeting of the stockholders.
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Meeting.
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SEC. 5. And be it enacted,
That a majority of
stockholders shall call a meeting, upon advertisement,
or otherwise notifying all of them.
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Property
answerable
for
debts.
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SEC. 6. And be it enacted,
That all the property,
estate, and joint stock of the corporation, shall be bound
and answerable for its debts and liabilities.
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Banking forbid.
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SEC. 7. And be it enacted,
That nothing herein
shall be construed as granting banking privileges to said
corporation.
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Reservation.
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SEC. 8. And be it enacted,
That the Legislature
reserves the right to alter or annul this act.
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Passed May
31, 1853.
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CHAPTER 417.
AN ACT to authorise the Commissioners of Somerset
county to levy a tax on the assessable property, for
the benefit of the several School Districts of said
county.
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Authority to
levy.
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SECTION 1. Be
it enacted by the General Assembly
of Maryland, That from and after the passage of this
act, the commissioners of Somerset county be, and they
are authorised and empowered, if in their judgment it
be expedient, to levy annually a tax of five cents in the
hundred dollars, on the assessable property of Somerset
county; said tax when collected, to be paid over to the
trustees of the several school districts in Somerset county,
in the same ratio as the school fund for said county is
now appropriated.
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Tax to be collected
annually.
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SEC. 2. And be it enacted,
That this tax shall be
collected annually by the collector of the county tax.
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