1827;

LAWS OF MARYLAND.

CHAP. 187

General meeting:
of stockholders.

such time, may be made at any time within thirty days there-
after.
SEC. 8. And be it enacted, That a general meeting of the
stockholders of said company shall be held annually at the
time and place appointed for the election of the president and
directors of said company, that they may he calltd at any time
during the interval between said annual meetings, by the pre-
sident and directors or a majority of them, or by the stock-
holders owning at least one fourth of the whole stock sub-
scribed, upon giving thirty days public notice of the time and
place of holding the same; and when any such meetings are
called by the stockholders, such notice shall specify the par-
ticular object of the call; and if at any such called meetings a
majority (in value) of the stockholders of said company are
not present, in person or by proxy, such meeting shall be ad-
journed from day today without transacting any business for
anytime not exceeding three days, and it within said three
days, stockholders having a majority, (in value) of the stock
subscribed, do not thus attend, such meeting shall be dis-

Annual statement
of accounts.

solved.
SEC. 9. Andbe it enacted, That at the regular annual meet-
ings of the stockholders of said company, it shall be the duty
of the president and directors in office for the preceding year,
to exhibit a clear and distinct statement of the affairs of the
company; that at any called meeting of the stockholders, a
majority of those present may require similar statements from
the president and directors, whose duty it shall be to furnish
them when thus required; and that at all general meetings of the
stockholders, a majority (in value) of all the stockholders in

Power to remove
officers.

Oath of office

said company, aiay remove from office any president or any
of the directors of said company, and may appoint others in
their stead.
SEC. 10. And be it enacted, That every president and direc-
tor of said company, before he acts as such, shall swear or
affirm, as the case may be, that he will well and truly dis-
charge the duties of his said office, to the best of his skill and

Authority to dis-
pose of reserved
stock

judgment,
SEC, 11. And be it enacted, That if any of the said twenty
seven hundred shares of the capital stock of said company,
not reserved to the United States, the state of Maryland, or
to the state of Delaware, shall remain unsubscribed until the
organizition of the said company, or if the shares of the
said capital stock herein reserved to the said states, or the
United States, or any part of them, shall not be subscribed by
the Untied States, or said states respectively, during the time
for Which stock is reserved for them, ia either case the presi-
dent and directors of the said company, or a majority of them,
shall have power to open books, and to receive subscriptions
to any of the capital stock of said company which may re-
main unsubscribed for, or to sell or dispose of such unsub-
scribed stock for the benefit of the company, for any sum not
under its par value, and the purchasers and subscribes of
such stock, shall have all the rights, powers and privileges of