1827

LAWS OF MARYLAND.

CHAP. 72.

vices as they may deem proper; and if any vacancy shall
occvir by death, resignation, or refusal to act, of any presi-
dent or director, before the year, for which he was elected has
expired, a person to fill such vacant place for the residue of
the year may he appointed by the president and directors of
said company, or a majority of them, and that the president
and directors of the company shall hold and exercisr their
offices until a new election of president and directors; and
that all elections which are by this act or the by-laws of said
company, to be made on a particular day, or at a particular
time, if not made on such day, or such time, may be made at
any time within thirty days thereafter.

Appeal and other
general meeting

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 president and
directors of said company, that they may be called at any
time during the interval between said annual meetings by the
president and directors, or a majority of them, or by the
stockholders, owning at least one-fourth of the whole stock
subscribed, uoon 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
particular object of the call; and if at any such called meet-
ings a majority (in value) of the stockholders of said compa-
pany are not present, in person or by proxy, such meeting
shall be adjourned from day to day, without transacting any
business, for any time not exceeding three days, and if with-
in said three flays, stockholders having a majority (in value)
of the stock subscribed do not thus attend, such meeting shall
be dissolved.

Statement of af
fairs to be exhibi-
ted

Sec. 9, And be 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 ma-
jority 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

Removal of offi-
cers authorised

in said company may remove from office any president, or
any of the directors of said company, and may appoint others
in their stead.

Oath of office,

SEC, 10. And be it enacted, That every president and di-
rector 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
judgment.

Re-opening books
for subscription.

SEC. 11. And be it enacted, That if any of the said four-
teen thousand shares of the capital stock of said company,
not reserved to the city oi Baltimore, or to the state of Ma-
ryland, or to the state of Pennsylvania, shall remain unsub-
scribed until the organization of the said company, or if the
shares of the said capital stock herein reserved to the said