LAWS OF MARYLAND.

1843

SEC. 7. And be it enacted, That a special meeting of
this company shall be called by the president and direc-
tors upon the application in writing of twenty members;
notice of such meeting shall be given ten days succes-
sively in two of the newspapers printed in Baltimore;
and special meetings of the company may be called
whenever the president and directois may deem it expe-
dient upon the same notice.

chap. 297.

Special meet-
ing to be call-
ed by presi-
dent and direc-
tors, upon ap-
plication of 20
members.

Sec. 8. And be it enacted, That for the well order-
ing the affairs, transacting the business and carrying into
effect the object of said corporation, there shall be twelve
directors who shall be members of said corporation at the
time of election, and residents of the city of Baltimore;
the said twelve directors shall be chosen by ballot at the
annual meeting for the term of one year, and until others
are chosen in their stead; and at their first meeting after
each election, the directois shall choose a president, and
should it at any time happen that an election of direc-
tors shall not be made upon the day when pursuant to
this act it ought to have been made, the corporation shall
not for that cause be deemed to be dissolved; but it shall
be lawful upon any other day, within twenty days there-
after to make an election of directors in such manner as
is herein before directed, and in case of the death, resig-
nation, or disqualification of the President or of a Direc-
tor, the place so becoming vacant, may for the remainder
of the year be filled up by the board of directors for the
time being; in case of sickness or necessary absence of
the president, his place may be supplied by a director,
whom the board of directors, may at their next regular
meeting appoint to act as president pro tern; but until
such appointment by the directors, the president may ap-
point a director to supply his place as president pro tem;
before the directors, at their first meeting after each elec-
tion, as above mentioned choose a president, they shall
fix the salary of that officer; and the president and direc-
tors shall have power to appoint all other necessary officers
and agents of the company; shall fix their compensation,
and shall have power to fill any vacancy that may occur
in any of the officers of the company.

Twelve direc-
tors.

Sec. 9. And be it enacted, That the president and di-
rectors of the said corporation shall have full power and
authority to make insurances on vessels, merchandize,
freight, specie, bullion, commissions, profits, bank notes,
and bills of exchange and other evidences of debt, bottomry
and respondentia interests, and on all other personal
property or interest in or touching properly at sea, or gr-
ing or gone by land or water, or subject to, dependant on,

Company may
make insu-
rance upon
vessels, &c.