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Sec. 5. And be it enacted, That the directors of the said
company, or a majority of them, shall have power to choose
from their own body, or from among the stockholders, a;
president of the company, and declare his powers and du-
ties; to provide for and fix the time of, and for giving no-
tice of the-annual election of directors; to provide for ap-
pointing the judges, and the mode of conducting and certi-
fying such elections; to provide for filling all vacancies oc-
casioned by death, resignation, or disqualification of the pre-
sident, or any director, until the next annual election; to
contract for and purchase, on such terms as shall appear to
them reasonable, the Exchange buildings in the city of Bal-
timore, and the ground on which the same are erected, as
also the vacant lots belonging thereto, or so much thereof
as can be obtained, and they may deem advisable; to pro-
vide for improving, preserving, repairing, leasing, renting,
or otherwise using or occupying, beneficially, the said Ex-
change building, and every part thereof, as well for public
purposes as for promoting the interest of the company; to
provide for calling in and enforcing payment of the capital
stock of the company, in such instalments not exceeding
twenty-five dollars per month, and on such notice as they
shall think reasonable, and to appropriate and apply the
same, when received, in payments of the debts or other-
wise, for the use and benefit of the corporation; to prescribe
the manner and evidence of transfers of the capital stock
of the company, and the form and mode of proving prox-
ies; to appoint or employ, and in their discretion to remove
from office and dismiss, such and so many agents, clerks,
and other persons, as the affairs of the company may in their
judgment from time to time require, and fix iheir compen-
sation; and generally to do and perform, or authorise, all
such acts, and make all such by-laws, resolutions, ordinances
and regulations, not inconsistent with the laws of this state
or of the United States, as the said board of directors, or a
majority of them, may deem necessary, useful or conveni-
ent, for or concerning the carrying into effect the powers
above enumerated, and all other powers, rights and privi-
leges, granted to or vested in the Exchange Company of
Baltimore aforesaid by this charter; and the said by-laws in
their discretion to revise, alter or annul.
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CHAP. 181.
President. Pow-
ers of company
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Sec. 6. And be it enacted, That all the stock, funds, es-
tate, property and effects, belonging to the said company,
shall be answerable for all contracts made fay them, or for
them, by their authorised agents, and for all just claims
against the company; but no stockholder shall be answerable
or liable therefor in his personal estate further than his pro-
portion or interest in the said stock; and the service of any
judicial process upon the president, or any of the directors,
Shall be a sufficient service on the corporation.
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Property to be li-
able fur contracts
of company
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