WM. T. HAMILTON, ESQUIRE, GOVERNOR.

751

or other disqualification of the president or any of

the directors during the term for which they were

elected, the remaining directors shall fill the vacan-

cies thus occurring for the remaider of the term.

SEC. 8. And be it enacted, That as soon as one-

fourth of the capital stock of said company shall

have been subscribed according to the provisions of

this act, the corporators named in the first sections

of it shall call a general meeting of the stockholders

Call general
meeting.

for the purpose of electing a president and directors,

until which period the said corporators shall exer-

cise all the powers herein conferred, and shall till

all vacancies in their own body from death, resigna-

tion or otherwise.

SEC. 9. And be it enacted, That as soon as the

said company shall be organized by the election of

its president and directors as hereinbefore provided,

Exercise

it shall be lawful for said company, and it is hereby

rights.

authorized to proceed at once to exercise all the

rights, franchises and powers granted by this act.

SEC. 10. And be it enacted, That this act shall

Liability of

at all times be liable to be amended, altered or re-

act.

pealed at the pleasure of the legislature.

SEC. 11. And be it enacted. That this act shall

Effective.

take effect from the day of its passage.

Approved May 31, 1882.

Chapter 486.

AN ACT to repeal an act of the General Assembly

of Maryland, passed at its January session, eigh-

teen hundred and seventy-eight, chapter four

hundred and sixty-three, entitled " An act to in-

corporate the town of Taneytown, in Carroll

county, State of Maryland," and to re-enact the

same with amendments.

SECTION 1. Be it enacted by the General Assem-

bly of Maryland, That the act passed at its Jan-

uary session, eighteen hundred and seventy-eight,
chapter four hundred and sixty -three, entitled " An

Repealed and
enacted in lieu

act to incorporate the town of Taneytown, in Car-