868

LAWS OF MARYLAND.

SEC. 4. And be it enacted, That when one
thousand (1,000) shares or more of said stock
shall have been subscribed, the said commis-

General meet-
ing, etc.

sioners, or a majority of them, shall call a gen-
eral meeting of the subscribers at such time and
place as they may appoint, and shall give at least
ten (10) days' notice thereof by advertisement
in a daily newspaper published in said city of
Hagerstown ; and to such meeting the said com-
missioners shall report a list of the names of the
subscribers, and of the number of shares of cap-
ital stock taken by each of them ; and the sub-
scribers present shall elect, by ballot, a president
and four directors from among their number to
manage the affairs of the company ; and in said
election, and in all other elections by the stock-
holders of the company, each stockholder shall
be allowed one vote for each share of stock
owned by him or her, and may vote either in per-
son or by proxy.
SEC. 5. And be it enacted, That the president
and directors thus elected shall serve until the

Term of office.

first Tuesday in April thereafter, or until
their successors, shall be elected at a general
meeting of the said stockholders ; and to con-
tinue the succession of said company a general
meeting of the stockholders shall be held an-
nually on the first Tuesday in April, or within
three (3) weeks thereafter, of which meeting at
least one week's notice shall be given by the
president and directors by advertisement in one
of the daily newspapers published in said
Hagerstown ; and at each of said annual meet-
ings a president and four (4) directors shall be
elected as aforesaid to serve for one (1) year, or
until their successor shall be elected. Other
general meetings of the stockholders for such
purposes, and in accordance with such rules as
may be prescribed by the by-laws of said com-
pany, may be called by the president and
directors, or a majority of them. The presi-
dent and directors shall meet as often as may
be prescribed in the by-laws of said company.
SEC. 6. And be it enacted, That the stockhold-
ers of said company in general meeting as-
sembled, or a majority of them, shall have
power to make and adopt, alter and amend such