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Election of
president and
directors.
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SEC. 3. And be it enacted, That the members of
said company shall meet on the second Monday of
April, eighteen hundred and sixty, in the city of
Baltimore, and annually thereafter on the same day
of each year, or at such other time and place as the
by-laws and regulations of the said company may
be appointed, whereof public notice of at least fif-
teen days in two of the daily papers of the city of
Baltimore, shall be given, and a majority of the
members who shall attend the said meeting either
in person or by proxy, shall elect from among the
said stockholders one person to serve as president
and six or more persons, as may be determined on,
to serve as directors, whose term of office shall be
twelve months, and until others shall be duly elect-
ed to succeed them, which said president and direc-
tors during their term of service shall have the
sole management and direction of the said stock,
property, business affairs and concerns of said Mer-
chants Hotel company of Baltimore city, each share
of stock upon which all instalments due have been
paid, the holder thereof shall be entitled to one vote,
and the person or persons having the greatest num-
ber of votes shall be elected to the office designated
by such votes, and if it shall happen at any election
that two or more persons shall have an equal num-
ber of votes, so that no choice shall have been made
as to such persons, then the stockholders herein au-
thorised to vote at such elections, shall proceed by
ballot a second time, and a plurality of votes, shall
determine which of the persons so having an equal
number of votes shall be the president or directors
so as to complete the number required, and in case
it shall happen at any time, that an election of of-
ficers shall not be made on the day when in pursu-
ance of this act an election ought to have been
made, the said corporation shall not for that reason
or for any non user, be taken or deemed to be dis-
solved, but it shall and may be lawful on any other
day within thirty days thereafter to hold an elec-
tion for officers in such manner as may be directed
by the by-laws of said Merchants Hotel company of
the city of Baltimore.
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