DANIEL MARTIN, ESQUIRE, GOVERNOR.

1828

Sec. 5. And be it enacted, That the president and direc-
tors of the corporation shall have full power and authority
to vest the surplus funds of said corporation, from time to
time, in public or bank stocks, and to sell and dispose ofthe
same, and generally to do all acts and things necessary to
effect the objects of the corporation hereby created, and not
inconsistent with the laws of this state, or of the United
States; and the said president and directors shall semi-annu-
ally declare and pay over to the stockholders, such dividends
of the clear profits of the corporation as they shall judge
proper.

CHAP. 7.
Surplus funds

Sec. 6. And be it enacted, That on the first Monday of
every January hereafter, or within thirty days thereafter,
there shall be a meeting of the stockholders of the corpora-
tion convened by the president and directors, after notice
given of the meeting in one or more newspapers of the city
of Baltimore, to which meeting the president and di-
rectors shall submit a full and particular statement of
the affairs, property and means, expenditures and receipts,
of the corporation, for the past year, and the resolutions of
stockholders assembled at such general meeting, if the stock-
holders actually concurring in, and voting for, such resolu-
tions, be owners of a majority of the shares of the compa-
ny's capital stock, shall at all times be binding on the corpo-
ration, and the president and directors, if not inconsistent
with law, and the provisions of this act.

Meeting of stock.
holders

Sec. 7. And be it enacted, That other meetings of the
stockholders may at any time be held, when called by the
board of directors, or by any number of stockholders who
shall be holders of not less than one-fourth of the company's
capital stock actually subscribed and paid for; and the reso-
lutions of a majority in amount of shares of the stockhold-
ers attending such meeting, shall be binding upon the cor-

Board may call
other meetings

poration, and the president and directors thereof; Provided,
such majority be the holders of the major part of the shares of
the company's capital stock actually subscribed and paid for;
And provided also, That notice of such intended meeting be
given by publication in one or more newspapers of the
city of Baltimore, two weeks before the time of the meet-
ing.

Provisos

Sec. 8. And be it enacted, That the service of legal pro-
cess on the president, or any one of the directors of the
corporation, shall be deemed a service of the same on the
corporation.

Legal process on

president, &c va-

lid

Sec. 9. And be it enacted, That nothing herein contain-
ed shall be construed in anywise to affect the right of the
legislature to levy a tax upon the real and personal proper-
ty of said company, similar to any tax which may be impos-
ed on the real or personal property within this state.

Legislature may

levy tax on pro-

perty of company