WILLIAM GRASON, ESQUIRE, GOVERNOR.

1838.

style, and title of the association for the improvement
of the drama, and by that name shall have continued
succession as a corporation, and be capable of having
and using a common seal, and of transacting business
by their officers and agents, without a seal, of sueing
and being sued, of purchasing, holding and leasing,
and otherwise disposing of a sufficient quantity of
lands or tenements, within the City of Baltimore, ne-
cessary to erect a theatre or theatres, and improving
and using the same, and of purchasing, holding, and
using, and disposing of all kinds of goods, chattles,
effects and rights, and generally to do and receive all
such acts as are or shall be usual, proper and neces-
sary as a corporation, for the purpose of erecting, pro-
viding furnishing, using, and leasing a theatre or
theatres, in the City aforesaid, and all necessary ap-
pendages and appurtenances, and transacting all busi-
ness, incident to, or connected therewith, or useful,
proper and necessary, to render the same useful and
convenient to the public and beneficial to themselves,
as fully as any corporate body in reference to the ob-
jects of its incorporation, or individuals, might, may,
or could lawfully do.

CHAP. 207.

Name and style.
Legal capacities.

Holding property.

Objects defined.

Sec. 2. And be it enacted, That the capital stock of
the said company, shall be divided into shares of four
hundred dollars each, and shall not exceed three hun-
dred shares; and every person who shall become the
owner of one or more shares of the said capital stock,
by subscribing and paying for the same in such man-
ner as shall be authorized pursuant to this act, or by
purchase and transfer, agreeably to the by-laws of the
company, or by devise, or in course of distribution,
or otherwise by operation of law, shall thereupon be-
come a stockholder and member of the company; and
every person who shall be divested of all his, or her
stock, in the said company, by sale and transfer, or
by operation of law, shall thereupon cease to be a mem-
ber of the company hereby incorporated, and the said
shares of stock, as to all legal purposes shall be deem-
ed personal estate, and shall be assignable by trans-
fer in such manner, and under such restrictions as the
by-laws made pursuant to this act, shall provide.

Shares $400

Not exceeding

300 shares.

Payment thereron.

Stockholder shall

be a member.

Shares personal

estate.

Sec. 3. And be it enacted, That the three persons first
named in this act, or any two of them, or in case of

Meet to organize.