DANIEL MARTIN, ESQUIRE, GOVERNOR.

1828

of the stockholders. Ninthly. To establish rules for the
transfer of the stock of the said company, and for the proof
of the ownership thereof. Tenthly. To call general meet-
ings of the stockholders at such times and places, and for
such purposes, as they may think proper, giving fifteen days
notice in at least two papers published in the city of Balti-
more, but no sucl) general meeting shall transact any busi-
ness, unless there be present, personally, or by proxy, the
owners of two-thirds of the shares subscribed and duly paid
for, except for the annual elections, when a majority of the
same shall be sufficient. Eleventhly. And generally to
act in all things for the said company, relatively to the un-
dertaking and joint property aforesaid, in as full and com-
plete a manner as the individual stockholders might do were
they individually present.

CHAP. 90.

Sec. 11. And be it enacted, That if any thing occur to
prevent an election of officers at the ited annual meeting,
those that were elected at the preceding one shall remain in
office until the next succeeding election.

Proceedings in

case election does

not take place at

any annual meet-

ing

Sec. 12. And be it enacted, That as soon as the progress
of the enterprise, and the state of the funds may permit,
the president and directors shall declare and pay to the
Stockholders, or their legal representatives, at stated peri-
ods, half yearly dividends, reserving however, out of the
income of the company's property, such sum annually, as
they shall judge necessary or proper for repairs, augmenta-
tions, improvements and contingencies.

Dividends

Sec. 13. And be it enacted, That the clerks, book-keep-
ers, and other subordinate agents, not herein specified, may,
before entering on their offices, be required by the presi-
dent and directors, to give bond, with securities, for the
faithful discharge of their duties.

Officers to give

bond

Sec. 14. And be it enacted, That the stock of this com-
pany shall be considered as personal estate.

Stock to be con-
sidered personal

estate

Sec. 15. And be it enacted, That the property of this cor-
poration shall be subject to taxation as other real or perso-
nal property in this state.

To be subject to

taxation

Sec. 16. And be it enacted, That this act shall continue
in force until the year eighteen hundred and sixty, and un-
til the end of the next general assembly which shall happen
thereafter.

Duration

CHAP. XCI.

An Act to alter the time for the transaction of Equity
Business in the First Judicial District of this State,
and for other purposes.

Passed Feb 28 1829

Sec. 1. Be it enacted by the General Assembly of Ma-
ryland, That the act, entitled, An act setting apart the

Acts repealed