LAWS OF MARYLAND,

CHAP. 66,

said stockholders thereof for the time being, they being also
the proprietors of the major part of the shares of capital stock
of the said corporation; and such majority of the .savi mem-

Powers granted

bers shall have power to prescribe the evidence of ownership,
and transfer of shares of stock in the said company; to pro-
vide for the appointment and employment, compens-tion and
dismissal of all such officers, agents, labourers and servants
as they shall deem necessary; to provide for making all con-
tracts, agreements and deeds, in the name and on behalf of
the corporation, and for using the corporate seal thereof , and
to make all such by-laws, orders, ordinances and regulations
which shall be necessary for the exercise and use of for said
powers, rights and privileges, and the same from time to
time to alter or repeal.

Stock personal
property.

SEC, 5. And be it enacted That the shares of the capital
stock of the said company shall be deemed personal estate;
and when any person shall be divested of all his stock by
transfer or otherwise, he shall cease to be a member of the
said corporation; and all the said capital stock, and A\ the
estate and property, real and personal, claims and effects of

Bond for contracts

the corporation, shall be bound and answerable for any ton-
tracts or engagements made, or liability incurred by or under
the authority of the said corporation or its agents, for its use

Proviso—debts li-

mitted

or account; Provided nevertheless, That the debts due by
this company shall at no time exceed one half of the amount
of capital actually paid in— and in case of insolvency, if on
investigation more shall at any time appear to have existed,
then the stockholders shall be liable in their individual capa-
cities to make good any deficiency in proportion to the amount
of stock held by each respectively.

Schools

SEC. 6. And be it enacted^ That it shall be the duty of the
said company to provide a competent teacher to instruct the
children employed in their service in reading, writing and
arithmetic.

CHAPTER 67.

Passed February 11

1828.

An act respecting naturalization

Preamble.

WHEREAS, it is believed, that the naturalization of aliens
have not in all cases been made in conformity with the laws
enacted upon that subject, whereby the rights to much real
property is rendered insecure, and the interests of bona fide
holders greatly endangered: Therefore

Naturalization ra-

tified

SECTION. 1. Be it enacted by the General Assembly of
Maryland, That every ease of naturalization in this state,
shall be taken and received as full and effectual, to all intents
and purposes whatsoever, any defect in the proceedings or
record otherwise to the contrary notwithstanding: Provided,
That such naturalisation shall not have been obtained by
fraud.