494

LAWS OF MARYLAND.

Officers.

to organize the company, by electing a president, vice-presi-
dent, secretary, treasurer and other officers, committees and
agents, deemed advisable, and fix their compensation, if any,
and the duties of such, and all matters concerning the regula-
tions of said company may be provided for in the by-laws to
be adopted as soon thereafter as practicable; but no directors
shall be subject to liability except as other members.

Notice of
election.

SEC. 8. And be it further enacted, That it shall be the
duty of the president and secretary to give notice of at least
two weeks by advertisement in some newspaper published in
the county in which the company's principal office shall be
located, of the meeting of members annually, which shall be held
on the last Thursday in July in each and every year, for the
transaction of such business as may properly be brought before
them, and for the election of seven, but not more than eleven
directors of the company who shall be members thereof; but
in case such election should, from any cause, not be held on
the same day, the company shall not in consequence thereof, be
dissolved; but such election may be held at such subsequent
time, as may be selected by the board of directors, or a
majority of them. At all elections each member shall have
one vote, either in person or by proxy, and such members as
may be in attendance shall constitute a quorum. Every voting
proxy being executed in writing before one witness at least,
and filed with the judges of election before the balloting com-
mences, the election to be conducted by three judges chosen
from the. members and not directors; the judges shall certify,
under their hands and seals, the result of such election, to be
filed with the secretary.

Insurance
against
lightning.

SEC. 9. And be it further enacted, That the said company
shall have authority and may take insurances on any kind of
property against loss or damages occasioned by lightning,
whether fire shall result therefrom or not, and may make such
by-laws and regulations concerning liability for loss or damage
by lightning, as may be deemed necessary.

By-laws.

SEC. 10. And be it further enacted, That the board of direct-
ors shall make such by-laws not inconsistent with this charter
or the laws of the State of Maryland, as they may deem nec-
essary to conduct the affairs of the company, and shall have
power to alter and amend the same, and the said by-laws and
every amendment thereof shall be binding upon all members
of said company. In case of any vacancy occurring in the
board of directors, same shall be filled by election of the re-
mainder of the board, to serve for the unexpired term.