536

LAWS OF MARYLAND.

Salaries.

Sec. 11. And be it enacted, That the President
and Directors shall have power and authority to
appoint a Secretary and such other officers .or
Clerks under them as shall be necessary- for trans-
acting the business of the company, and may allow
such salaries as they shall judge reasonable; shall
provide for compensating the President and other
officers of the company.

Accounts to
be kept.

Sec. 12. And be it enacted, That the President
and Directors shall keep full, fair and correct
accounts of their transactions, which shall be
open at all times to the inspection of the stock-
holders, they shall annually prepare a full and
true statement of the affairs of th.c company, which
statement shall be certified to by the President
and Secretary.

May purchase.

Sec. 13. And be it enacted, That the President
and Directors shall have power to purchase or hire
a suitable lot or building, within the limits of the
city of Baltimore, for the purpose of transacting
the business of the company.

Individual
property not
responsible.

Sec. 14. And be it enacted, That no stockholder
in this company shall be answerable in person or
individual property for any contract or agreement
of said company, or for any losses, deficiencies or
failures of the capital stock of this company, but
the whole of said capital stock, together with all
property, rights and credits belonging thereunto,
and nothing more, shall at any time be answer-
able for demands against the company.

Books to be
opened.

Sec. 15. And be it enacted, That as soon as
practicable after the passage of this act the persons
named in the first section thereof shall open books
for subscription to the capital stock of the company,
at some public place or places in the city of Balti-
more, of which public notice shall be given, and
shall keep the same open for thirty days or longer,
in their discretion.

Stock trans-
ferable.

Sec. 16. And be it enacted, That the stock of
this company may be assigned and transferred on
the books thereof, in person or by power of attor-
ney only, but no stockholder indebted to the com-
pany shall be permitted to make a transfer or
receive a dividend until such debt is paid or