ELIHU E. JACKSON, ESQUIRE, GOVERNOR.

thereafter in the month of January, elect from
their number a president, treasurer, and such
other officers as they may see fit; six of said
directors, of whom the president or treasurer
shall be one, shall form a quorum for the trans-
action of business, and the affirmative vote of at
least ... members of the board shall be requisite
for making any order for, or authorizing an in-
vestment of money, or the sale or transfer of
any stock or securities belonging to the corpora-
tion, or appointment of any officer receiving any
salary therefrom.
SEC. 4. And be it enacted, That all vacancies
by death, resignation or otherwise in the office
of directors shall be filled by the board, by bal-

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lot, without unnecessary delay, and at least six
votes shall be necessary for the election of a
director, and the said directors shall hold regu-
lar meetings at least once in each month; to
receive the reports of their officers as to the bus-
iness and affairs of the corporation, and to trans-
act such business as may be necessary ; and any
director omitting to attend the regular meeting
of the board for six months in succession may
thereupon, at the election of the board, be con-
sidered as having vacated his place, and a suc-
cessor may be elected to fill the same; the
superior court of Baltimore city may at any time,
for due cause, remove any director on proper
notice to such director, and affording him an
opportunity to be heard in his defence.
SEC. 5. And be it enacted. That the board of

Vacancies-
how filled.

directors of said corporation shall have power
from time to time to make such by-laws, rules
and regulations as they shall judge proper for
the election of their officers, for prescribing
their respective functions and the mode of dis-
charging the same; for the regulation of the
times of meetings of the officers and directors,
and generally for the transacting, managing
and directing the affairs of the corporation ; pro-
vided such laws, rules and regulations are not
repugnant to this act, or to the constitution or
laws of this state or of the United States.

Make by-laws,
etc.

SEC. 6. And be it enacted, That the treasurer
and agents of said corporation shall, respectively,
give such security for their fidelity and good
55

Give security.