THOMAS SWANN, ESQUIRE, GOVERNOR.

93

of the said subscribers, by ballot, to be given
in person or by proxy, appointed or authorized in
writing, one President and seven Directors, a ma-
jority of whom shall be residents of this State, and

a Treasurer; and the President and Directors
chosen as aforesaid, being first sworn diligently i
and faithfully to discharge the trust reposed in
them by this act, shall conduct the business and
manage the affairs of the said company until
the second Wednesday of December thereafter, and
until like officers are chosen to succeed them, and
may make and enforce the by-laws, rules and regu-
lations provided for in the second section of this
act; and in choosing the said President, Directors
and Treasurer, each subscriber shall be entitled to
one vote for each share of stock subscribed by him,
her or it.

Affairs— how
managed.

Sec. 6. And be it enacted, That the stockhold-
ers of the said company shall meet on the second
Wednesday of December next, after the organiza-
tion of said company, provided for in the preceding
section, and on the same day in every year there-
after, in the town of Cambridge, of which meeting
at least twenty days previous notice shall be given
by the Secretary, by advertisement in the news-
papers aforesaid, and choose by a majority of votes
then present, the President, Directors and Trea-
surer of the said Company, for the ensuing year,
who shall continue in office for one year and until
others are chosen; and the said stockholders shall
meet at such other times as they may be summoned
to meet by the President and Directors, in such
manner and form as shall be prescribed by the by-
laws, and at the annual and special meetings they
shall have full power to do any corporate act con-

Meeting of
stockholders.

sistent with this charter; and the number of votes
to which each stockholders shall be entitled shall
be equal to the number of shares of stock he may
hold, but no share shall confer a right to vote
which shall not have been held at least thirty
days prior to the day of voting, nor unless it
be held by the person in whose name it appears
absolutely and bona fide, in his own right or in
right of his wife, or for his or her sole use and be-
nefit, or as executor or. administrator, trustee or
guardian, or in the right and for the use and bene-
fit of some partnership, corporation or society, of
which he or she may be a member, and not in

Number of
votes entitled
to.