WILLIAM GRASON, ESQUIRE, GOVERNOR.

1838.

vote, for every share owned by them respectively, up
to the number of fifteen, inclusive, and to one addition-

al vote for every five shares, from fifteen to one hun-

dred, and to one additional vote for every twenty
share over and above one hundred, and may vote in
person or by proxy, in such manner as may from time
to time, be prescribed in general meeting; the said
directors, or a majority of them, way choose from their

CHAP. 267.
Rights to vote regu-

lated.

own body, a president, and in his absence, a president

pro-tempore; they shall have power to call general
meetings of the stockholders; to supply vacancies in

their own body; to appoint such officers, agents and

clerks, as the stockholders in general meeting shall
authorise to take bonds with sufficient surety, for the
good conduct, fidelity and attention of such officers,
agents and clerks, and to do all other acts and
things, touching the affairs of the company, not other-
wise specially provided for.

President.

Supply vacancies.

Take bonds.

General powers.

Sec. 6. And be it enacted, That the presence of
stockholders, entitled to a majority of the whole num-
ber of votes in person or by proxy, shall be necessary
to the transaction of business at any general meeting
of the stockholders, and such meetings shall be organ-
ized by the appointment of a chairman and secretary,
but a smaller number may adjourn from time to time,
and if there should be no election of any directors at
any annual meeting, as hereinbefore directed, the di-
rectors then in office shall continue until the next an-
nual election by the Stockholders in general meeting
in which the major part of the Stock shall be repre-

sented.

Quorum required

for a general

meeting.

How organized.

Offices expire.

Sec. 7. And be it enacted, That if the whole amount
of capital stock, authorized to be raised by any act of
incorporation, shall not have been subscribed for be-
fore the company incorporated by said act shall have
commenced its operation, it shall in such case be law-
ful for the president and directors of said company,
whensoever they may deem it expedient, to cause books
of subscription to be opened from time to time, until
the whole amount of the capital stock authorized to be
raised by said act, shall have been subscribed for; and

If the whole capital
be not subscribed.

Books may again be

opened.

also if so to them It shall seem proper, to fix the price
of the additional stock at such a premium as they may,
55

May fix price of

such stock.