CHAP. 349.

Fill vacancies.

of any vacancy happening in the presidency or direc-
tors of said company, the remaining directors shall fill
the same by choosing a president or directors, as the
case may he, from amongst the stockholders, to servo
until the next election, and for the transacting any
business hereby confided to the president and direc-
tors, a majority of them shall be a quorum.

General meetings.

Sec. 4. And be it enacted, That general meetings of
the stockholders shall he called by the said president
and directors as often as they shall think proper, or
as the said stockholders may in their bye-laws direct,

Special meetings.

and that special meetings may be called at any time
by the president or a director, or by any number of
stockholders who shall be proprietors of not less than

Notice required.

one fourth of the whole capital stock, first giving ten
days notice of such meeting, and its objects, in writ-
ing to each stockholder, or by advertisement in at
least two newspapers, published daily in the city of
Baltimore, and in any meeting of the stockholders, a

Quorum.

quorum for the transaction of any business, other than
the electing of the president and directors, shall con-
sist of the proprietors, or the owners, and representa-
tive of the owners of at least the major part of the
capital stock, and every such meeting shall have full

Powers defined.

power and authority to pass, amend, alter and repeal,
by-laws and regulations for the management of the
affairs of said corporation, which shall, whilst enforced,
be binding therein on the president and directors of the
said company, their officers, agents, and servants, the
same not being contrary to law, or the provisions of
this act.

Limit of the char-

ter.

Sec. 5. And, be it enacted, That this act shall con-
tinue in force, until the same shall be repealed, as it
may be hereafter, either in whole or part, at the plea-
sure of the legislature.

Banking forbid.

Sec. 6. And. be it enacted, That nothing in this act
contained, shall be so construed as to confer any bank-
ing privileges on the company aforesaid, nor the right
to issue any note in the nature, of a bank note.

Liabilities.

Sec. 7. And be it enacted, That if the debts which

the amount of its capital actually paid in, the directors
under whose administration this may happen, shall be
liable for the same in their individual and private ca-