THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1845.

time in such manner as the stockholders in general meet-
ing may direct, so that the entire capital slock at any one
time shall not exceed one thousand shares of one hundred
dollars each, and such shares shall be deemed and taken
to be personal estate, and shall be transferable only on
the books of the corporation, and in such manner as may
be prescribed by the by-laws thereof, and the owner of
one or more shares shall in virtue thereof be entitled at
all elections and in all meetings of the stockholders, one
vote for each and every share which may be owned by
him, which said votes may be given in person or by
proxy, to be authenticated in such manner as the by-laws
may direct.

CHAP. 270.

SEC. 3. And be it enacted, That the management of
the business and concerns of the said corporation, subject
nevertheless to such restraints and qualifications as may
be prescribed by the laws or other votes of the stock-
holders adopted in general meeting, shall be vested in a
board to consist of a president and two directors, who
shall be elected by ballot and shall be stockholders at
the time of their election, and they or a majority of them
shall be a quorum for the transaction of business, that
the first board shall be elected on the first Monday of
May next, and the subsequent elections shall be made
annually thereafter at a general meeting of stockholders
to be convened for the purpose, at such time and place,
and after such notice as may be fixed by the by-laws of
the corporation or by the president and directors in con-
formity therewith; but if an election shall not be made
on the day appointed for the purpose, such election may
he made at any time within six months thereafter, and
the president and directors for the time being, shall hold
and exercise their offices until a new election shall be
made, and in case of a vacancy in the office of president
or director, the remaining members of the board shall
choose a president or directors as the case may be, to
serve until the next annual election.

President and
stockholders.

SEC. 4. And be it enacted, That general meetings of
the stockholders shall be called, by the president and di-
rectors, as often as they may deem expedient, or as the
stockholders, by their by-laws, or other votes, may di-
rect, and may likewise be called by any number of stock-
holders, owning not less than one-fourth part of the capi-
tal stock, and at least ten days notice of the time and
place of such meeting, and of its objects, shall be given
to each stockholder personally, or by advertisements to
be inserted in at least two newspapers printed daily in

Meetings.