EDWIN WARFIELD, ESQ., GOVERNOR.

1201

in the presidency or directorship of said corporation, the
remaining directors shall have power to fill such "vacancy by
appointing some stockholder to that office, until the next
meeting of the stockholders for the choice of directors.
SEC. 5. And be it enacted, That a meeting of the stock-
holders of said company shall be held annually at such

CHAP. 714

time and place as shall be established by the by-laws, and
it shall be the duty of the president and directors at said
meeting to make a report of the condition and business
affairs of said company, and a special meeting of the stock-
holders may be called at any time by a majority of the
directors, or by one or more stockholders, who shall repre-
sent one-fifth part of said capital stock, of which meeting
ten days' previous notice, stating the object thereof, shall be
given in some newspaper printed in the county of Garrett,
and at all meetings of the stockholders, the owners or repre-
sentatives of the major part of the stock shall constitute a
quorum for the transaction of business, and shall have
power to pass, amend, alter or repeal the by-laws and
remove from office any director, officer or agent for the said
corporation and to appoint others in their stead.
SEC. 6. And be it enacted, That if any subscribers to the

Annual
meeting of
stockholders

capital stock of said corporation, or any person or corpora-
tion who may become entitled to any share or shares of
such capital stock, shall fail or neglect to pay any assess-
ment or instalment which may be required or demanded to
be paid by the president and directors of said corporation,
or a majority of them, on the share or shares of stock sub-
scribed for or owned by such subscriber, person or corporation
for the space of sixty days next after such assessment or instal-
ment shall be demanded and made due and payable, the stock
on which such assessment or instalment is demanded shall be
forfeited to said company and may be sold by the said pres-
ident and directors, or a majority of them, for the benefit of
said company; but the said president and directors, or a
majority of them, may remit such forfeiture, on such terms
as they shall deem proper.
SEC. 7. And be it enacted, That nothing in this Act shall

Stock forfeited

be construed as to permit said -company, or the president,
vice-president, manager, superintendent, or any director or
other officer of such corporation, to own or have any interest
in any general store or mercantile business in Garrett county,
39

How
construed.