462

LAWS OF MARYLAND.

SEC. 2. And be it enacted, That the Board of
Directors may, with said bonds, or the proceeds
thereof, purchase an amount of stock of said
company not to exceed in amount twenty thou-
sand dollars of the par value of said stock, and

Cancel stock.

may cancel the said stock thus purchased, and
the President and Directors of said company, or
a majority of them, shall file a certificate which
shall be sworn to by the President, of the
amount of stock thus canceled, in the Clerk's
office of the Circuit Court for Allegany county
within thirty days from the date of the can-
cellation of such stock, and the capital stock
of said company shall be reduced to the ex-
tent said stock is thus canceled, as shown by
said certificate.

SEC 3. And be it further enacted, That before
any stock is purchased by said Board of Direc-
tors, as provided for in the last preceding sec-
tion, the holders of at least two-thirds of the

Consent.

shares of stock which are not to be thus pur-
chased, shall give their consent to the same at a.
meeting of the stockholders of said company,
to be called for the purpose of determining
whether said stock shall be thus purchased, a
notice of which meeting shall be given by
publication in a daily newspaper published in
Cumberland, Maryland, at least once a week

Notice.

for three successive weeks prior to said meet-
ing, and by notice addressed to each stock-
holder at his usual post-office address, as shown
on the books of said company; said notice shall
specify the time, place and object of said
meeting.

Effective.

SEC. 4. And be it further enacted, That this act
shall take effect from the date of its passage.

Approved April 7, 1886.