1832.

LAWS OF MARYLAND.

CHAP. 125.
Elm officer,, &c.

sident and managers may appoint, on the second Monday
in May in each and every year, or within two days there-
after, when and where they may elect, by a plurality of
. votes, by ballot, a president, five managers, (three of whom
shall be a quorum,) a treasurer, and such other officers as
they may deem necessary for the ensuing year, and until a
new election, and may, by a majority of votes present,
adopt, add to, alter or amend, such by-laws, rules, orders
and regulations, as may be necessary for the well govern-
ing the affairs of the Company; Provided, that they do
not contravene the constitution or the laws of this State or
of the United States.

Instalments, regu-

lated

Sec. 6. And be it enacted, That the sums subscribed to
the stock of the said company shall be paid in the follow-
ing manner: one dollar on each share, to the commission-
ers at the time of subscribing, four dollars on each share
to the managers, elected agreeably to the provisions of
this act, within one month after the election of managers,
and the remainder in such sums and at such times as the
managers, or a majority of them, may appoint, they giving
two months notice of the payments required, in one or
more of the papers printed in Hagerstown and Williams-
port.

Corporate capaci-

ty - powers grant-

ed

Sec. 1. And be it enacted, That the stockholders in the
said company shall be, and they are hereby incorporated
and constituted a body politic, by the name of the Wil-
liamsport and Hagerstown Turnpike Company, and by
the same name shall have succession during the continu-
ance of this incorporation, and the said stockholders and
their successors, by the name aforesaid, may sue and be
sued, answer and be answered, in any court of law or
equity in this state, and may do and execute every other
matter and thing by the name aforesaid, that they are au-
thorized to do in virtue of this Act.

Further subsrip-

tion for stock, &c

Sec. 8. And be it enacted, That after the President and
managers are elected in the manner hereinbefore mention-
ed, they shall have full power and authority to receive sub-
scriptions for all unsubscribed or vacant shares, and upon
the said election, the powers heretofore vested in the com-
missioners for receiving subscriptions shall cease; provided
nevertheless, That when either the capital stock or a sum
sufficient for the completion of the said road is subscribed
for, no further subscriptions shall be received.

Commissioners to

lay out road

Sec. 9. And be it enacted, That the President and man-
agers be, and they are hereby authorised to appoint three
commissioners, who, or a majority of whom agreeing, shall