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1860.
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LAWS OF MARYLAND.
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CHAP. 305
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establish such by-laws and regulations as shall be
necessary or convenient for conducting the affairs
of the corporation not repugnant to law.
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The company
— its objects
&c.
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SEC. 2. And be it enacted, That the objects of
said corporation are said to be the mining of copper
ores, and for which purpose they are hereby au-
thorised to purchase, hold and sell land in fee sim-
ple or otherwise necessary for the conducting of the
business, and to erect thereon all needful and con-
venient buildings; that the capital stock of said
corporation shall not be less than one hundred and
fifty thousand dollars, nor more than five hundred
thousand dollars.
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Business —
how managed
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SEC. 3. And be it enacted, That for the manage-
ment of the affairs of the company, the stockholders
shall elect a president and not less than five direc-
tors, who shall remain in office for one year or until
successors be elected, a majority of whom shall con-
stitute a quorum or board; that a majority of stock-
holders shall call a meeting, upon advising all the
stockholders by advertisement in one of the news-
papers published in said county or the city of Bal-
timore at least twenty days previous to the time
and place of holding such meeting.
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Stock deemed
personal es-
tate.
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SEC. 4. And be it enacted, That the stock of said
company shall be esteemed personal estate, and that
all the property, estate and joint stock of the cor-
poration shall be bound and answerable for its debts
and liabilities.
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Construction.
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SEC. 5. And be it enacted, That nothing contained
herein, shall be construed as granting banking
privileges to said corporation or exempting their
property or effects from general taxation.
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Reservation.
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SEC. 6. And be it enacted, That the Legislature
reserves to itself the right to alter or amend this
act of incorporation whenever the public interests
may require it.
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