536

LAWS OF MARYLAND.

One vote for

of said company is to be taken, each stockholder

every share.

shall be allowed one vote for every share owned by

it, him or her, and every stockholder may depute

any other person to vote and act for it, him or her,

as its, his or her proxy; and the commissioners

aforesaid, or any three or more of them, shall be the

judges of the said first election of directors.

SEC. 11. And be it enacted, That to continue the

succession of the president and directors of said

company, twelve directors shall be chosen annually

Directors olio-
sen annually.

on the first Monday of May in every year, in the

county or city in which the principal office of the

said company shall be located, by the stockholders

of said company.

SEC. 12. And be it enacted, That the directors of

said company, or a majority of them, shall have

Appoint

power to appoint judges of all elections, and to elect

Judges of elec-
tions.

a president of said company, either from among the

directors or others, and to allow him such compensa-

tion for his services as they may deem proper; and

if any vacancy shall occur by death, resignation or

refusal to act of any president or director before the

year for which he was elected has expired, a person

to fill such vacant place for the residue of the year

Vacancy— how

may be appointed by the president and directors of

filled.

said company, or a majority of them; and the pres-

ident and directors of the company shall hold and

exercise their offices until a new election of president

and directors; and all elections which are by this act

or by the by-laws of said company to be made on a

particular day or at a particular time, if not made

on such day or at such time, may be made within

thirty days thereafter.

SEC. 13. And be it enacted, That a general meet-

ing of the stockholders of said company shall be

held annually at the time and place appointed for

the election of the president and directors of said

company, but they may be called at any time during

the interval between said annual meetings by the

General direct-

president and directors, or a majority of them, or

ing.

by stockholders owning at least one-fourth of the

whole stock subscribed, upon giving thirty days' pub-

lic notice of the time and place of holding the same,

in the same manner as prescribed for giving notice

for opening books of subscription; and when any

such meetings are called by the stockholders, such