1826

LAWS OF MARYLAND.

CHAP. 171.

ferring stock in the said company, and the evidence thereof;
and generally to do all such acts, and pass all such ordinances •
and regulations for the benefit and well ordering of the busi-
ness of the said company, as they shall think proper, the same
not being contrary" to the by-laws passed by the stockholders,
nor to any law of this state, or of the United States; and in
case of any vacancy happening in the presidency or direc-
tory of this company, the remaining directors shall fill the
same, by choosing a president or director, as the case may be,
from the stockholders; and for the transaction of any busi-
ness hereby confided to them, a majority of the said presi-
dent and directors shall be a quorum.

"Qepenl »nd ipe-
vlkTnintingi

Sec. 5. And be it enacted, That general meetings of the
stockholders shall be called by the president and directors as
often as they shall think proper, or the said stockholders may
in their by-laws direct, and that special meetings may be
called at any time, by the president, or a director, or by any
number of stockholders who shall be proprietors of not less
than one-fourth of the whole capital stock, first giving ten days
notice of such meeting, and its objects, in two newspapers
published daily in the city of Baltimore; and in any meet-
ing of the stockholders a quorum for the transaction of any
business, other than the election of the president and direc-
tors, shall consist of the owners or representatives of the
owners, of at least the major part of the said capital stock;
and every such meeting shall have full power and authority
to pass, amend, alter and repeal, by-laws and resolutions,
which shall, whilst in force, be binding on the president and
directors of the said company, their officers, agents and ser-
vants, the same not being contrary to any law of this state,
or of the United States.

Legislature not
restricted in im-
posing tax

Sec. 6. 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 expressly reserved in its fullest extent,
to impose and levy, from time to time, and at all times here-
after, such tax as the general assembly shall deem proper,
by license, or otherwise, on the estate, funds and property,
in which the capital stock of the said company, hereby in-
corporated, shall be invested, in common with similar pro-
perty, funds, or estate of any other company, corporation
or individuals of this state.

Duration

Sec. 7. And be it enacted, That this act shall continue in
force until the year eighteen hundred and sixty, and until the
end of the next session of the general assembly as shall hap-
pen thereafter.