JAMES THOMAS, ESQUIRE, GOVERNOR.

1834.

Such manner as the stockholders in general meeting, or the
president and directors shall, from time to time direct: Pro-
vided, that nothing herein contained, shall be so construed

CHAP. 144

as to prevent the said company from selling and conveying
any part of such real estate as they may hold, or from time
to time acquire, and which may be hereby incorporated into
stock and declared personal estate, or to authorise the con-
veyance of such real estate when sold or disposed of, in any
other manner than that provided by the laws of this State,
for the conveyance or disposal of real estate; and when it is

Transfers

Bo sold and conveyed, from being considered real estate.
Sec. 7. Be it further enacted, That a general meeting
Of the stockholders of said company shall be held annually
on the first Monday of July, at such place as shall be pre-
scribed by the by-laws, the presence of a majority of the
stockholders in interest, in person, or by proxy, shall be ne-
cessary to the transaction of business at such meeting, but
a smaller number may adjourn from time to time; in all ge-
neral meetings of said company, the stockholders shall be
entitled to one vote for each and every share owned by
them respectively, and may appear and vote on all questions,
either in person or by proxy.

Annual meetings

Sec. 8. Be it further enacted, That if any subscriber or
stockholder, except such as shall have withdrawn as herein
before provided, fail to pay the amount due on the stock for
which he has subscribed, or of which he has become the
owner, or any instalment thereof, at the time and place pre-
scribed by the president and directors, it shall be lawful for
the company in any court of record in this State, to recover
from any delinquent stock holder, of his, or her representa-
tives, the amount that may be due from him, her, or them
respectively, to said company, and that such delinquent
shall receive no dividend, nor shall have power to transfer
or vote upon his or her stock, until the whole amount of
Subscription, or such parts thereof as may have been called
for, shall have been paid, with the interest which shall have
accrued thereon, from the time or times at which such pay-
ment or payments should have been made.

Failing to pay in-

stalments

Sec. 9. And be it enacted, That nothing in this act shall be
So construed as to authorise the aforesaid company to make
issue, or put into circulation, any negotiable note or notes,
payable to bearer, or any note or notes in the nature of a bank
note.

Banking forbid

Sec. 10. And be it enacted, That this act shall be and re-
main in full force and effect until the year eighteen hundred

Limitation