1837.

LAWS OF MARYLAND.

CHAP. 79.

Books and ac-
counts.

SEC. 8. And be it enacted, That the president and
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 therein, each and every transfer of
said stock, which shall be made from time to time, the
mode of transferring the stock may be regulated by the
by-laws; and the directors shall also keep fair and cor-
rect entries of their proceedings, which shall at all
times be open to the inspection of the stockholders, and
the directors shall make an annual exhibit to the com-
pany of the state of the business.

Votes.

SEC. 9. And be it enacted, That at any general meet-
ing of the stockholders either for the election of direc-
tors or for other purposes, each stockholder shall be
entitled to one vote for every share of stock, bona fide,
held and owned by him or her, but no share or shares
shall confer a right to vote which shall not have been
holden four calender months previous to, the day of
such general meeting; the manner of calling such gen-
eral meetings shall be regulated by the by-laws.

Method of dis-
solving.

SEC. 10. And be it enacted, That at any time hereaf-
ter any number of stockholders, holding over two
thirds of the then capital stock, shall have full power
and authority (if they deem it expedient,) to order and
direct the business of the company to be brought to a
close, and in that case, or at the termination of this
act, it shall be the duty of the directors to sell, convey
and dispose of all the lands and other property and
effects of the company, and the proceeds thereof, after
the debts of the corporation shall have been paid, to
divide among the members thereof, in their just and
equitable proportions.

Instalments.

SEC. 11. And be it enacted, That the capital stock
shall be paid for in such instalments, at such times,
and under such regulations as shall be directed in the
by-law; the directors giving three weeks notice of each
call for an instalment, by advertisement in a newspa-
per published in Kent county, or having circulation

Neglect to pay.

therein, and in case any person shall refuse or neglect
to pay any instalment due on his or her stock for the
space of sixty days next after the time the same shall be
due and payable, the stock of such person or persons shall