1828

LAWS OF MARYLAND.

CHAP. 159.

of the streets, wharves, and other improvements, that shall
be made by the said company, in such manner and on such
terms as shall be mutually agreed upon by the said mayor
and city council, and the board of directors of the company
hereby created.

Shares to be con-

sidered personal
estate, &c

Sec. 7. And be it enacted, That the shares of stock of
the said company shall be deemed and considered personal
estate, and all the joint stock, property, funds and effects,
of said company, shall be answerable for all the contracts
made or authorised by or for the said company, and for
all just claims against the same; but none of the stockhold-
ers shall be liable in person or property for any contracts

of legal process on the president, or any of the directors,
shall be a sufficient service on the corporation.

Sec. 8. And be it enacted, That the stockholders at any
general meeting, or at any special meeting called in such
manner as the by-laws shall provide, at which the holders
of a majority of the whole number of shares of stock shall
be present or represented, shall have power to alter or re-
peal any by-laws made by the president and directors; and
also to make such new by-laws, rules, and regulations, as
the holders of a majority of the whole number of shares of
the stock shall assent to, which shall be binding on the pre-

Proviso

sident and directors; Provided that such by-laws shall not
be contrary to any of the provisions of this charter, or to
the laws of this state, or of the United States.

Right of legisla-

ture to levy tax

not restrical

Sec. 9. And be it enacted. That nothing in this act con-
tained shall be construed to restrict the right of the legisla-
ture, which is hereby reserved in its fullest extent, to im-
pose from time to time, and at all times hereafter, and levy
such tax by license, or otherwise, upon all property, estate
and funds, in which the capital stock of the said company
hereby incorporated shall he invested, in common with simi-
ration or individuals of this state; and the legislature also re-
serve the right to regulate the police and government of the
population of any town or place owned or occupied in whole
or in part by the said company without the limits of (he city
of Baltimore; and that nothing herein contained shall au-
thorise the stockholders of the company hereby incorporated,
or the president and directors thereof, at any time to pre-
scribe or exercise any mode of municipal government, or of
police in any town or place, owned or occupied by the said
company, but the population of such town or place, shall be
subject to the present laws of this state, nnd such alterations
thereof as may from time to time be authorised by the gene-
ral assembly, who shall also regulate and limit the distance
to which any wharves, or other improvements, shall be ex-