1834,

LAWS OF MARYLAND.

CHAP 163.

sary for regulating the concerns of the corporation, any
five directors shall constitute a quorum for business

Transfers

Sec 4 And be it enacted, That the directors shall cause
to be entered in a book prepared for the purpose, the names
of all the stockholders, with their respective number of

Record of proceed

shares, they shall also cause to be entered in a separate
book, each and every transfer which shall from time to time
be made of any of said shares, the stock shall be assigna-
ble and transferable under such rules and regulations as
shall be prescribed by the directors, the directors shall also
keep fair and correct entries of their proceedings, which
shall at all times be open to the inspection of the stockhold-

Exhibit

ers, and they shall make an annual exhibit of the state of
the business, any person who shall omit to pay in the whole
amount of his or her stock, within twelve months of the

Forfeit

time of its having been subscribed for, shall forfeit all divi-
dends of profits which may be declared on the capital,
stock.

Payment to the

Methodist Pro-

testant church.

Sec 5. And be it enacted, That in consideration of the
facilities furnished by the ministers and members of the
Methodist Protestant Church for the distribution of tracts
and the sale of books, and for the purpose of enabling said
church to create a book fund for literary purposes, the direc-
tors of this company shall pay to the book committee of said
church, one third part of all the profits arising out of the
business previously to their making or declaring a dividend
of the profits to the stockholders

Authority to pur

chase out

Sec. 6 And be it enacted, That the book committee of
the Methodist Protestant Church shall have the privilege, at
any time after the year of our Lord eighteen hundred and
thirty five, to purchase the entire stock in hade belonging to
the company, consisting of stereotype plates, books, copy
rights, and other property, the plates at a fair valuation,
and the books and other property at cost

Authority to close

Sec. 7 And be it enacted, That at any time after the
first day of January eighteen hundred and thirty eight, any
number of the stockholders holding over two hundred shares
of the capital stock, shall have authority if they deem it
necessary, to order the business of the company to be
brought to a close, and settled in accordance with the pro-
visions of the sixth and eighth sections of this act

Distribution

Sec 8 And be it further enacted, That on the expira-
tion or repeal of this act, or at any time when the directors
make sale, or otherwise dispose of the stock in trade be
longing to this company, they shall make a faithful and equi-
table distribution of the assets among the stockholders or