128

LAWS OF MARYLAND,

Award of
damages.

The person whose property shall have been
damaged shall have the power to appoint one
disinterested person, and the President and Direc-
tors of this Company shall appoint another disin-
terested person, who shall proceed to estimate the
damages, and in the event of these two disagree-
ing they shall have power to appoint another dis-
interested person, and the award of any two of
them shall be final, and the company shall pay
said award within sixty days after said award shall
have been made.

Power to ap
point officers,
Ac.

Sec. 8. And be it enacted, That the President
and Directors shall have power and are hereby
authorized to appoint a Vice-president, Treasurer
and such other officers as may be required for the
proper transaction of the business of the company,
to require bonds for the proper fulfillment of their
duties, to make by-laws for its government and to
do all things necessary and proper for its manage-
ment and which are not inconsistent with the
laws of this State or of the United States.

Dividends.

Sec. 9. And be it enacted , That the President
and Directors shall declare dividends of the pro-
fits of the corporation semi-annually, or so much
thereof as to them shall appear advisable, and in
case of any loss or losses whereby the capital stock
of the corporation shall be diminished, no subse-
quent dividend shall be made until a sum equal
to such diminution arising from the profits of the
corporation, or the contribution of the stockhol-
ders, shall have been added to the capital.

Correct en-
tries to be kept

Sec. 10. And be it further enacted, That the
President and Directors shall keep full, fair and
correct entries of their transactions, which shall
at all times be open to the inspection of the stock-
holders, they shall annually prepare a full and
true statement of the funds, property and securi-
ties of the association, showing the amount in
real estate, in bonds and mortgages, in notes,
stock and other securities, the amount of debts
due to and from the association, which statement
shall be certified to by the President and Secre-
tary and reported to the annual meeting of the
stockholders.

Stock may
be transferred.

Sec. 11. And be it enacted, That the stock of
the company may be assigned and transferred on