ACT. 23. ] CORPORATIONS. 31

request, then the shareholders owning a majority of the voting
shares, or members constituting a majority of all the members,
may do so by giving fifteen days' notice of the time, place and

-object of the meeting by advertisement inserted in a news-
paper published in the county or city in which the principal
office of the corporation is situated. At any meeting called and
warned under the provisions of this and the next preceding sec-
tion, any president, director or directors may, by the vote of a
majority in interest of all shareholders, or by the vote of a
majority in number of all the members, be removed from office
and another or others be appointed in the place of the person or
persons so removed, to serve for the remainder of his or their
term or terms.

SEC. 17. All meetings of the shareholders or members shall be
held within this State. A majority in interest of all the stock
outstanding and entitled to vote, or a majority in number of
all the members (present in person or by proxy) shall consti-
tute a quorum; but in the case of a mutual insurance company
whose policy-holders for the time being, are members thereof,
the members actually present, in person or by proxy, at any
members' meeting duly held, shall constitute a quorum. Ex-
cept where it is by this article otherwise provided, the vote of
a majority of any quorum shall be sufficient to elect and to
pass any measure within the powers of the holders of a
majority of all the shares, or of a majority of members.

Voting.

SEC. 18. No corporation shall directly or indirectly vote any
shares of its own stock, except such as it holds, and is by its
charter or certificate authorized to hold as trustee, committee,
guardian, executor, administrator, or in some other fiduciary
capacity. Corporations holding shares in another corpora-
tion may vote the same by such officer, agent or proxy as the

directors may appoint.

SEC. 19. In all corporations subject to the provisions of this
article and having a capital stock, each shareholder shall be
entitled to one vote for every share of voting stock standing in
his name; but no shares shall be voted by any holder if any
installment duly called thereon shall be overdue and unpaid;
nor shall any increased stock which may be issued under the
provisions of this article be voted until it has been paid in full.
Shareholders or members may vote either in person or by proxy,
but no proxy which is dated more than three months before the
meeting at which it is offered, shall be accepted, unless such