1840.

LAWS OF MARYLAND,

CHAP. 167.

shall keep a correct record of their proceedings, which
shall be subject to the inspection of the majority of the
stock duly represented.

Dividends.

SEC. 5. And be it enacted, That the president and di-
rectors shall declare dividends of the profits realised, if
any, by the company, or on so much thereof, from time to
time, as a majority of them shall deem expedient.

Shares may be
transferred.

SEC. 6. And be it enacted, That the shares of the stock
aforesaid, may be transferred by the owners thereof, their
executors, administrators or attorney duly and lawfully au-
thorised, in a book to be provided for that purpose, and in
such manner as the directors shall direct.

Liability.

Not to use any
wharf without
the consent of
owner.

SEC. 7. And be it enacted, That all the joint stock,
property, money and effects of said company shall be an-
swerable for all contracts made by or for the said company,
and for all just claims against the same; and the service of le-
gal process on any one of the directors, shall be considered
as sufficient service in the corporation; the stockholders
not to be answerable in person or property, for any contract,
debt or claim against the said corporation; that only the
joint stock, funds and assets of said company to be liable
for the debts and claims due by the corporation.
SEC. 8. And be it enacted. That nothing in this act, shall
be construed to authorise said company to obtain posses-
sion of, or use any wharf or landing, without the consent
of the owner or owners of such wharf or landing.

General meet-
ing.

Notice required.

SEC. 9. And be it enacted, That the board of directors,
or the stockholders holding a majority of the stock, shall
have power, at any time, to call a general meeting of the
stockholders, by giving notice at least three times a week,
for three weeks, in two of the newspapers in the city of
Baltimore, for the time and place of such general meeting
of the stockholders, anil at all such meetings of the stock-
holders, the votes shall be taken as in the manner of elec-
ting directors, and a majority of the stock represented at
said meetings, shall have the power of closing and winding
up the concerns of said company.

Right reserved
to impose tax.

SEC. 10. And be it enacted, That nothing in this act,
contained, shall be construed to restrict the right of the le-
gislature, which is hereby reserved in its fullest extent, to
impose, from time to time, and at all times hereafter, and
levy such reasonable tax, or license, or otherwise, upon all
steam boats, vessels or other property, estate or funds in
which the capital stock of the said company hereby incor-
porarated shall be invested, in common with similar steam