226

LAWS OF MARYLAND.

election, and the President, Directors and other
officers last elected, shall continue to act, and be
invested with all the powers belonging to their
respective positions, until others shall be duly
elected, and qualified; and in case of death, resig-
nation, refusal or neglect to act, or removal from
the State of any officer, his place shall be be filled

Froviao.

by the Board of Directors, until the next annual
election; provided, the removal from the State of
any Director, may not operate to vacate his place,
should there be a majority of the Directors still re-
siding in the State.

Quorum for
the transaction
of business.

Sec. 6. And be it enacted, That the President
and Directors shall hold their meetings in the town
of Snow Hill, or at such other place as the by-laws
of the company shall indicate, and when met, four
shall form a quorum, who, in the absence of the
President, may choose a Chairman; and the said
Directors shall annually, or oftener in case a va-
cancy, appoint a Secretary, who shall keep minutes
of their transactions fairly entered in a book, and
a quorum of said Directors being present at any
meeting, they shall have power and authority to
appoint all such surveyors, engineers, superinten-
dents and other artists and laborers, that they may
deem necessary to carry on and complete the in-
tended work, or any portion of it; to fix their sala-
ries or wages, to ascertain the times, manner and
proportions in which the said stockholders shall pay
the money due on their respective shares, to draw
orders on the Treasurer for the same, which shall
be signed by the President, or in his absence, by a
majority of the [Directors present, and counter-
signed by the Secretary, and generally to do all
such other acts, matters and things as by this act
and the by-laws and regulations of the company
they are authorized to do.

Certificates
of stock trans-
ferable.

Sec. 7. And be it enacted, That the President
and Directors shall procure certificates or evidence
of stock for all the shares of said company, and shall
deliver one of such certificates, signed by the
President and countersigned by the Treasurer, and
sealed with the common seal of said company, to
each person, for every share by him subscribed and
held, which certificate shall be transferable at his
pleasure in person or by attorney, legally author-
ized, in the presence of the President or Treasurer,