THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1837.

have succession, and shall be able to sue and be sued,
plead and be impleaded, in all courts of law and equi-
ty, in this State, and elsewhere, and to make a com-
mon seal, and the same to break, alter or renew at
pleasure.

CHAP. 59.

SEC. 2. And be it enacted, That the present direc-
tors, to wit: — Parrott Roe, Richard Jarrell, Henry
Roussett, William F. Chilton and George W. Harring-
ton, shall continue to act as such until the first Monday
of January, eighteen hundred and thirty-nine, at which
period, or as soon thereafter as may be convenient, the

Present Direc-
tors.

said company may elect in the manner which shall be
specified in their by-laws, five directors for that year,
and so in each and every year during the continuance
of the company, provided nevertheless, that the direc-
tors appointed in any one year shall continue to act

Annual elec-
tion.

until other directors are appointed; in case of death
removal from the county or resignation of any direc-
tor, his place shall be filled up by the company.

Vacancies.

SEC. 5. And. be it enacted, That the directors shall
have authority to appoint a President annually, and
such other officers as they may deem necessary for the
prudent management of the concern, to purchase and
hold land for the use of the company, and all other

President and
officers.

necessary articles which they may determine on; the
society shall have power to ordain and establish such
by-laws, ordinances and regulations, as shall appear
necessary for regulating the concerns of the corpora-

Powers.

tion and the proceedings of the directors; any four di-
rectors shall constitute a quorum to do business; and
their acts if not inconsistent with this act, the laws of
the State, and the regulations of the company, shall
be binding on the whole company: and any deed, con-
tract, sale, mortgage or disposition, made by them of
the lands and other stock of the company, with the con-
sent of the stockholders holding a majority of the
stock of said company, shall also be binding on the
whole company.

Quorum.

Acts binding.

SEC. 4. And be it enacted, That the directors shall
cause to be entered in a book prepared for the purpose,
the names of all the stockholders, with their respective
number of shares; they shall also cause to be entered
in a separate book, each and every transfer, which

Books.