1828

LAWS OF MARYLAND.

CHAP. 193.

General meetins

to be held annually

Sec. 8. And be it enacted, That a general meeting of
the stockholders of the said company shall be held annually
at the time and place appointed for the election of presi-
dent and directors of said company, that they may be call-
ed at any time during the interval between said annual meet-
ings by the president and directors, or a majority of them,
or by the stockholders owning at least one-fourth of the
whole stock subscribed, upon giving thirty days public no-
tice of the time and place of holding the same; and when-
any such meetings are called by the stockholders, such no-
tice shall specify the particular object of the call; and if at
any such called meetings a majority (in value,) of the stock-
holders of said company, are not present, in person or by
proxy, such meeting shall be adjourned from day to day,
without transacting any business, for any time not exceed-
ing three days, and if within said three days, stockholders
having a majority (in value,) of the stock subscribed do not
thus attend, such meeting shall be dissolved.

Statement of the

affairs of company

to be made

Sec. 9. And be it enacted, That at the regular annual
meetings of the stockholders of said company, it shall be
the duty of the president and directors in office, for the pre-
ceding year, to exhibit a clear and distinct statement of the
affairs of the company; that at any called meeting of the
stockholders, a majority of those present may require si-
milar statements from the president and directors, whose
duty it shall be to furnish them when thus required; and
that at all general meetings of the stockholders, a majority
(in value,) of all the stockholders in said company, may
remove from office any president, or any of the directors
of said company, and may appoint others in their stead.

Oath, of president,
&c

Sec. 10. And be it enacted, That every president and
director of said company, before he acts as such, shall

truly discharge the duties of his said office to the best of
his skill and judgment.

Proceedings in

case stock re-

served is not

subscribed

Sec. 11. And be it enacted, That if any of the said nine
thousand shares of the capital stock of said company, not
reserved to the city of Baltimore, or to the state of Mary-
land, shall remain unsubscribed until the organization of
the said company, or if the shares of the said capital stock
herein reserved to the said state, or city, or any part of
them, shall not be subscribed by said state, or city, respec-
tively, during the time for which stock is reserved for
them, in either ease the president and directors of the said
company, or a majority of them, shall have power to open
books, and to receive subscriptions to any of the capital
stock of said company which may remain unsubscribed for,
or to sell or dispose of such unsubscribed stock for the bene-
fit of the company, for any sum not under its par value,
and the purchasers or subscribers of such stock shall have