810

LAWS OF MARYLAND.

President and
directors.

SEC. 2. And be it enacted, That as soon as one hundred
shares of the capital stock of the company, created by this act,
shall have been subscribed, the said commissioners, or a major-
ity of them, shall call a meeting of the subscribers to said cap-
ital stock, who shall proceed in person to the election by ballot
of one president and four directors, from among their own
body, to manage the affairs of said company, for one year from
the day of their election, and until a new president and direc-
tors shall be elected and qualified.

A body cor-
porate

SEC. 3. And be it enacted, That the said stockholders, their
associates and successors, from the day of their first meeting,
as hereinbefore provided for, shall and they are hereby declared
to be a body corporate and politic, by the name, style and title
of the White Haven Bridge Company; and by that name shall
have succession, may sue and be sued, plead and be impleaded,
answer and be answered unto, in any Court of law or equity in
this State.

Meetings.

SEC. 4. And be it enacted, That the president and directors
shall meet at such times and places as they or a majority of
them shall agree upon for the transaction of the business of
the company, a majority of the whole board being a quorum,
and in the absence of the president the directors present may
choose a chairman from among their own body, and they shall
keep a full and correct minute of their proceedings fairly entered
in a book to be kept for that purpose.

Vacancies.

SEC. 5. And be it enacted, That in case any vacancy shall
occur in the board of president and directors by death, resigna-
tion or otherwise, the directors shall supply such vacancy by
appointment of such directors from among the stockholders to
serve the remainder of the term which gaid vacancy had occa-
sioned, and said president and directors shall have full power
and authority to appoint a treasurer and all other officers they

By-laws.

shall deem necessary, and shall determine the nature and amount
of surety to be given by any such officer, and they shall have
full power and authority to make and establish all such by-
laws, rules and regulations not inconsistent with the Constitution
and laws of the United States and this State that shall or may
be necessary for the well being, ordering and directing the
offices of said company.

Election of
president
and direc-
tors.

SEC. 6. And be it enacted, That the stockholders of said
company, in one year from and after the day on which the
first election for president and directors shall be held, as here-
inbefore provided for, and on the same day in every second