1837.

LAWS OF MARYLAND.

CHAP. 104.

Vacancies.

each and every year, during the continuance of the
company: provided nevertheless, that the directors
appointed in any one year shall continue to act until
other directors are appointed; and in case of death, re-
moval from the county, or resignation of any director,
his place shall be filled up by the board of directors.

President and
officers.

SEC. 3. And be it enacted, That the directors shall
have authority to appoint annually, a President and
such other officers, as by the by-laws may be di-
rected, and at such time as the said by-laws may pre-
scribe, which said officers may be selected from the
board of directors or from the Body of the members
of the company; and the said officers shall execute and
perform such duties as may by the by laws be required.

Estate— proper-

ty.

SEC. 4. And be it enacted, That the said company
is hereby authorised to purchase, hold, occupy, possess
and enjoy such land and real estate, and such articles,
implements and utensils, as may be deemed necessary
to carry into full effect the objects of this association.

Record, Book.

SEC. 5. And be it enacted, That it shall be the duty
of the directors to cause to be entered in a book to be
provided for the purpose, the names of all the stock-
holders, with their respective number of shares, and in
case any of the stock should be be transferred to any
person not now a member of the company, his or her
name, with his or her amount of stock, shall be enter-
ed therein, and it is expressly made the duty of the di-

Duties of direc-
tors.

rectors, to superintend and direct all the operations of
the company, subject to, and under the control of such
general rules, orders, regulations and by laws, as the
company in general meeting may direct; to make a full
report of their proceedings, not less than once in each
and every year, at such times as may be required by
the by laws, or as soon after in any one year, as the
company may require or order, to keep fair and accu-
rate minutes of their proceedings, in a book to be provi-
ded for that purpose, which shall be at all times open
to the examination of stockholders: and, and for the
performance of all their duties, four members of the
board of directors shall constitute a quorum.

By Laws.

SEC. 6. And be it enacted, That the said company
is hereby empowered to enact, ordain and establish