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ing year; and the President and Directors shall
appoint one or more Judges of all Elections,
and if any vacancy shall occur by death, resig-
nation, removal or refusal to act of any Presi-
dent or Director, the balance of the Board may
fill such vacancy by the election of a stock-
holder to fill said vacancy for the ensuing
year; and any election required to be made on
a particular day, if not made on that day, may
be made on any date thereafter by two weeks'
notice of the same published in a newspaper
in Salisbury, also published in one in Snow
Hill; and the President and Directors previ-
ously qualified, shall continue to fill their offi-
ces until their successors are duly elected and
qualified, when they shall deliver to their
successors all the books, papers, subscriptions
and money belonging to said company in their
hands, and every President and Director-elect,
before they act, shall make oath before a Jus-
tice of the Peace for Wicomico or Worcester
counties, to well and faithfully discharge the
duties of their respective offices.
SEC. 4. And be it enacted, That the President
and Directors, or a majority of them, shall,
after two weeks' notice thereof, have the
power to call for the payment of subscriptions
to the capital stock at such times and in such
amounts as they may deem necessary; and
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President and
Directors.
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should any subscriber fail or refuse to pay
any part of his subscription or instalment
thus demanded, after sixty days from the
expiration of due notice given, the said com-
pany shall be entitled to receive, sue for and
demand the amount of said subscription or
instalment thus demanded with interest there-
from from the date of such demand, in such
manner as other debts and claims are recover-
able by law; provided, that no instalment so
demanded at one time shall exceed one-fourth
the value of the share or shares subscribed ;
to appoint all agents and officers to manage
and execute the affairs of the company; to
fix their compensation; to purchase, lease and
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Payments.
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