1214 LAWS OF MARYLAND.

SEC. 7. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved March 13, 1908.

CHAPTER 88.

AN ACT to amend the charter and extend the powers of the
Merchants and Miners Transportation Company, by repeal-
ing and re-enacting sections five and six of chapter one hun-
dred and fifty-three, passed at the January session, eigh-
teen hundred and fifty-two, and to further amend the said
Act by extending the corporate existence of said company,

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That sections five and six of chapter one hundred and
fifty-three, passed at the January session eighteen hundred
and fifty-two, be and the same are hereby repealed and re-
enacted, as follows:

SEC. 5. And be it enacted, That the persons named in the
first section of this Act shall be directors of said corporation,
and shall have full power to act as such for the term of twelve
months from and after the organization of said company, which
organization shall take place as soon as five hundred shares
shall have been subscribed for as aforesaid, and on such day
as the by-laws shall provide, the stockholders of said company
shall choose, by ballot, such number of directors as may be
provided by the by-laws, not to exceed eleven, from the members
of said corporation, to manage the affairs thereof for twelve
months, and until successors be chosen, and on the same day
in each succeeding year, shall the like election be made, and
in all general meetings of said company and election of
directors, every stockholder shall be entitled to give in person
or by proxy, one vote for each share of the capital stock stand-
ing in his or her name on the books of said corporation, and
at their first meeting after said election, said directors shall
choose a president, and should it at any time happen that an
election of directors shall not be made upon the day when,
pursuant to this Act, it ought to have been made, the said
corporation shall not for that reason be deemed to be dis-
solved, but it shall be lawful on any adjournment, as provided
by the by-laws, to hold and to make an election of directors in
such manner as shall have been regulated by the by-laws and
ordinances of said corporation, and in case of death, resigna-
tion or disqualification of a director, the place of such direc-
tor for the remainder of the year shall be filled up by the board
of directors for the time being.