316

LAWS OF MARYLAND.

and Directors, or a majority of them, and the
President and Directors shall hold their offices
until a new election of President and Directors,
and all elections required to be made at a particu-
lar time, may be. made within thirty days there-
after.

Annual meet-
ings.

Sec. 6. And be it enacted, That a general meet-
ing of the stockholders shall be held annually at
the time and place appointed for the election, of
Directors, and they may be called at any time
during the interval by the President and Directors,
or a majority of them, or by stockholders holding
at least one-fourth of the capital stock subscribed,
upon giving at least thirty days public notice of
the time and place for holding the same, and when
any meeting shall be called by the stockholders,
the notice shall specify distinctly the object for
such meeting, and no subject shall be considered
or acted upon other than such as shall be clearly
and distinctly stated in such public notice, and if
at any such meetings a majority in value of the
stockholders shall not be present ia person or by
proxy, such meeting shall be adjourned from day
to day without transacting any business, for not
more than three days, and if within such period
stockholder! holding a majority as aforesaid do
not attend, such meeting shall be dissolved.

Statement of
affairs to be ex-
hibited.

Sec. 7. And be it enacted, That at the regular
annual meeting of stockholders, it shall be the
duty of the President and Directors for the pre-
ceding year to exhibit a full and clear statement
of the affairs of the company, and that at any
called meetings, a majority of the stockholders
present may require similar statements, and at
any general meetings a majority (in value) of the
stockholders may remove any President and Di-
rectors, and appoint others.

To take oath

Sec. 8. And be it enacted) That every President
and Director shall, before he acts as such, swear
or affirm, as the case may be, that he will faith-
fully and justly execute the duties of his office.

Powers.

Sec. 9. And be it enacted, That the powers of
the President and Directors shall be the same as
those which may be exercised by the President
and Directors of the Baltimore and Ohio Railroad