LAWS OF MARYLAND.

1843

officers, engineers and agents as may be necessary to trans-
act the business of the company, that they may purchase
or lease lands necessary for the business of the company,
hire or build boats, vessels or carriages to be employed by
them, make and build such wharves and houses as may be
necessary for their business, and that they prescribe the
mode of conducting the elections of said company, the
manner and evidences of transfer of stock, and the condi-
tion of forfeitures thereof, and are hereby empowered to
pass all by-laws and resolutions requisite for the welfare of

CHAP. 158.

the company; provided, such by-laws shall not be contrary
to the laws of Maryland or inconsistent with the provisions
of this charter; to determine the manner of employment,
to establish the route or routes, price of passengers fare,
and price of transportation of freight, and the same to alter
or change, and in all respects to conduct the business of the
company in the best manner for the interest and advantage
of the parties concerned; that the said board of directors
shall keep a record of their proceedings, which shall be
subject to the inspection of the majority of the stockhold-
ers duly represented; and provided, that the said company
shall not be authorised to construct any wharf or building,
which will interfere with or obstruct the navigation of Back
Creek on the approach to the Chesapeake and Deleware
Canal.

Provisoes.

Sec. 5. And be it enacted, That the president and direc-
tors, shall from time to time, declare dividends of the pro-
fits realized, if any, by the company or so much thereof as

To declare di-
vidends.

a majority of them shall deem expedient.
Sec. 6. And be it enacted, That the shares of the stock
aforesaid may be transfered by the owner or owners there-
of, their executors, or administrators, or attorney duly and
lawfully authorized, in a book to be provided for that pur-

May transfer
stock.

pose, and in such manner as the directors shall direct.
SEC. 7. And be it enacted, That all the joint stock pro-
perty, money and effects, of said company, shall be answer-
able for all contracts made by or for said company, and for
all just claims against the same, and service of any legal
process on any one of the directors shall be considered
sufficient service on the corporation; the stockholders not
to be answerable in person or property for any contract
debt, or claim against the corporation; that the funds and
assets of said company only to be liable for the debts and

Joint stock
property liable
tor contracts.

claims due by the corporation.
Sec. 8. 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 three weeks notice, in at least two
of the newspapers published in Baltimore, of the time and

May call ge-
neral meeting.