470

LAWS OF MARYLAND.

aforesaid, and the Managers of the said company,
or a majority of them, shall have the power to ap-
point one or more Judges of all elections, and to
elect a President of said company from among the
Managers or stockholders of said company, and to
allow him a compensation for his services if they
shall deem proper; and if any vacancy shall occur
by death or resignation, or refusal to act, or remo-
val from the county, of a President or Manager or
stockholder, may be elected by the Managers to fill
the vacancy until the next annual election; and
all elections required to be made on a particular
day, if not made on that day may be made on any
other day after thirty days notice of such election
day in some newspaper in the county, and general
meetings of the stockholders may be called by any
number of the stockholders not less than five, nor
holding less than one-fourth of the whole number
of shares, to consider any general interest of said
company, and the said general meeting, if repre-
senting more than one half the whole number of
shares in said company shall have power to make,
alter or repeal, by a majority of the votes in the
manner aforesaid, all or any of the by-laws, rules
and regulations of said Managers.

Number ne-
cessary to
form board
and quorum

Sec. 7. And be it enacted, That any four of the
Managers, including or without the President,
shall constitute a board and quorum for the tians-
action of all kinds of business, and shall be com-
petent to appoint all such officers, agents and ser-
vants whatsoever as they may deem necessary for
the transaction of the business of the company, to
fix their compensation and dismiss them at pleas-
ure; to provide for requiring and taking security
for the faithful performance of the duty of any
office of the company, for making all contracts
which shall be necessary to effect the purposes con-
templated by this act, and for settling all accounts
of the company; to provide for furnishing to the
stockholders certificates or other evidences or their
lights to stock, and for the transfer of stock and
evidence of such transfer, and to pass all such by-
laws as shall be proper or necessary for exercising
all the powers, rights and privileges vested in the
company hereby incorporated, or in the said Man-
agers, or for the performance of the duties required
of them by this act, and the said by-laws from