1860.

LAWS OF MARYLAND.

CHAP. 351.

twenty thousand dollars, in shares of twenty dol-
lars each, under the direction of the above incorpo-
rators, or any three of them, for the purpose afore-
said, and who shall, on or before the first Monday
of April next, give notice, in one or more news-
papers in Frederick and Carroll counties, for five
days at least, of the time, when and the place where
the said book will be opened to receive subscriptions
for stock of the Libertown and Ridgeville Turn-
pike road company, at which time and place at
least three of the respective corporation shall at-
tend, and shall permit and suffer all persons and
corporations, who shall offer to subscribe in person,
or by attorney duly authorised, in the said book,
which shall be kept open for that purpose at least
four hours every day for four days if it be necessary.

Organization.

SEC. 3. And be it enacted, That when two
hundred shares, or more, of the said capital stock
shall have been subscribed, the managers shall give
twenty days notice to the subscribers, to meet at a
time and place to be fixed by said managers, for
the purpose of organizing said company, and the
subscribers shall proceed to elect, by ballot, and a
plurality of votes, a president and five managers,
three of whom shall constitute a quorum, and they
shall elect in the same manner, by ballot, a trea-
surer and such other officers as they shall deem ne-
cessary for conducting the affairs of said company,
until the first Monday in December, eighteen hun-
dred and sixty, and until a new election shall be
held, which said election shall be held annually,
on the first Monday in December in each and every
year, and that said president and managers shall
make such rules and by-laws and regulations as
may to them seem necessary for the well-governing
of the affairs of the company; that all stockholders
in any election of the officers of said corporation

Proviso.

shall be entitled to one vote for every share; Pro-
vided, that no person or body politic shall have
more than thirty votes, no matter what number of
shares he, she or they may be entitled to.

Rights vested.

SEC. 4. And be it enacted, That the stockholders
in said company shall be and they are hereby in-
corporated and constituted a body politic, by the
name of the Libertown and Ridgeville Turnpike
company, and by the same name shall have succes-
sion during the continuance of this corporation,
and the said stockholders and their successors, by