32 LAWS OF MARYLAND.

proxy shall, on its face, name a longer period for which it is to
remain good.

SEC. 20. Any corporation subject to the provisions of this
article may by its by-laws provide, through cumulative voting,
for minority representation in the election of directors.

SEC. 21. If it shall happen at any time that an election of
directors is not made on the day designated therefor, the corpo-
ration shall not for that reason be dissolved; but it shall be
lawful on any other day (upon due notice as the by-laws may
provide, and in default of any provision, then upon notice, as
prescribed by Section 15 of this article) to hold such election;
and all acts of directors so holding over shall be valid until
their successors are duly chosen and qualified.

SEC. 22. Shares standing in the name of fiduciaries, may be
voted by them and fiduciaries may, upon proof of title and
qualification, vote the shares standing in the name of any per-
son for whom they are authorized to act as executor, adminis-
trator, guardian, trustee or committee. A pledgor before sale
shall be deemed to be the holder of his shares for the purpose of
voting the same.

SEC. 23. Notice of the time, place and purpose of any meeting,
whether required by the by-laws or by any provisions of this
article, may be dispensed with if every member or shareholder
shall either attend in person or by proxy, or if absent shall by
writing filed with the records of the meeting, waive such notice.

AMENDMENTS AFTER ORGANIZATION.
Scope; and Vote Required.

SEC. 24. Every corporation of this State now existing or here-
after formed may, from time to time, at any meeting duly
warned as provided for by Sections 15 or 16 of this Article, by
the affirmative vote of a majority of all its members or a
majority of all its stock (or if two or more classes of stock have
been issued, of a majority of each class) outstanding and
entitled to vote, amend its charter or certificate of incorpora-
tion, and thereby accomplish any one or more of the. following
objects: The addition to or diminution of the corporate powers
and purposes, or the substitution of other powers and purposes
in whole or in part for those prescribed by any charter or cer-
tificate; provided that such additional or substituted powers
are such as are authorized by this article; the changing of the,
corporate name; the changing of the corporate business; the
increasing or decreasing of the capital stock and the classifica-
tion of any increase; the reduction of the number of outstand-