680

LAWS OF MARYLAND.

restrictions imposed upon said railroad corporation

or corporations by any such act or acts, except so

far as the same are modified hereby; and the per-

son or persons for or on whose account any such ma-

terial, rolling stock, property and franchises of

any such railroad corporation or corporations may

When to meet.

have been purchased, shall meet within thirty

days after the conveyance thereof shall be deliv-

ered, public notice of the time and place of such

meeting having been given at least once a week

for two weeks in at least one newspaper published

in the city or county in which such sale may have

been held, and organize said new corporation by

Elect presi-

electing a president and board of six directors

dent, &c.

(to continue in office until the first Monday of

May succeeding such meeting, when, and annually

thereafter on the said day, a like election for a

president and six directors shall be held to serve

Adopt corpo-

one year), and shall adopt a corporate name and

rate name.

common seal, determine the amount of the capital

stock thereof, not exceeding the amount author-

ized in the original charter, and shall have power

and authority to make and to issue certificates

therefor to the purchaser or purchases aforesaid,

to the amount of their respective interest therein,

in shares of fifty dollars each, and may then, or

at any time thereafter, create and issue preferred

stock to such an amount and on such terms as

they may deern necessary, and from time to time

Issue bonds.

issue bonds at a rate of interest not excending six

per centum per annum to any amount not exceed-

ing their capital stock, and to secure the same by

one or more mortgages upon the real and per-

sonal property and corporate rights and franchises,

or either or any part or parts thereof.

SEC. 2. And be it enacted, That it shall be the

duty of such new corporation, within one calendar

Make oertifl-
oate.

month after its organization, to make a certificate

thereof, under its common seal, attested by the

signature of its president, specifying the date of

such organization, the name so adopted, the

amount of capital stock and the names of its

president and directors, and transmit the said cer-

Transmit
certificate.

tificate to the Secretary of State, to be filed in his

office and there remain of record, and a certified