DANIEL MARTIN, ESQUIRE, GOVERNOR, -

lass

of any portion of the profits, in their discretion; and gene-
rally to exercise all the powers and privileges conferred or
appertaining to their corporation.

CHAP. 57.

Sec. 7. And be it enacted, That special meetings of the
stockholders may to called by the board of directors, or by
any number of stockholders who shall be proprietors of
not less than one-third of the whole number of shares of
stock subscribed; the members present, and representing a
majority of the whole number of shares of stock subscrib-
ed, shall be a quorum for the transaction of business; and
the stockholders, at any general annual meeting, or at any
special meeting, at which the holders of a majority of the
whole number of shares of stock shall be represented, shall
have full power to alter and repeal any by-law, rules or
regulations, made by the president and directors, and may
make such new by-laws, rules and regulations, as a majori-
ty of the whole number of votes of the stockholders shall
assent to, which shall be binding on the president and di-
rectors, provided that the same be not contrary to any of
the provisions of this act.

Special meetings

Sec. 8. And be it enacted, That the shares in. the capi-
tal stock of this corporation shall be deemed personal estate,
and when any person shall be divested of all his stock, by
transfer or otherwise, he shall cease to be a member of the
said corporation; and ail the capital stock, and all the es-
tate and property, real and personal, claims and effects, of
the corporation, shall be bound and answerable for any con-
tracts or engagements made, or liability incurred, by or un-
der the authority of the said corporation, and its agents, for
its use and account.

Shares to be deem-
ed personal estate

Sec. 9. And be it enacted, That nothing contained in
this act shall be construed to restrict the right of the legis-
lature to impose from time to time, and at all times hereaf-
ter, and levy such reasonable tax upon the property, real,
personal and mixed, in which the capital stock of the said
company, hereby incorporated, shall be invested, in com-
mon with similar property of any other corporation or indi-
vidual of this state.

Right of legisla-

ture to impose tax

not restricted

Sec. 10. And be it enacted, That this act shall continue
and be in force until the first day of January eighteen hun-
dred and fifty; and until the end of the next session of the
general assembly that shall happen thereafter.

Duration

CHAP. LVIII.

An Act to authorise the Clerk of Frederick County Court
to record the Deed therein mentioned.

Passed Feb. 13, 1829

Sec. 1. Be it enacted by the General Assembly of Mary-
land, That the clerk of Frederick county be and he is here-

Deed to be record