1845.

LAWS OF MARYLAND.

CHAP. 280.

Mode of elec-
tion.

SEC. 8. And be it enacted, That in case it should
so happen that an election should not be made upon the
day when, pursuant to this act, it ought to have been
made, the said company shall not for that cause be dis-
solved, but it shall be lawful on any other day within two
weeks thereafter, to hold and make an election of direc-
tors, in such manner as shall have been regulated by the
laws and ordinances of said company.

Not liable.

SEC. 9. And be it enacted, That no subscriber, stock-
holder or member of said company, shall be an-
swerable in his person or individual property, for any
contract or engagement of said company.

Directors to
appoint.

SEC. 10. And be it enacted, That the, said directors
for the time being, shall have power and authority, to
appoint such clerks, agents, superintendents and servants
under them, as may be necessary for executing the busi-
ness of the company, and the same to remove at pleasure,
and to allow them, or any of them, and also the presi-
dent, such compensation for their services as they shall
deem right; and bonds with security, to take from any
or either of said persons if thought necessary for the
faithful discharge of their duty.

Must be
stockholder.

SEC. 11. And be it enacted, That no person shall be
a president or director, who shall not at the time be a

stockholder.

Mode of trans-
fer.

SEC. 12. And be it enacted, That the shares of stock
shall be transferable on the books of said company, only
according to such rules and regulations as shall be es-
tablished by the said president and directors.

Legal capaci-

ty.

SEC. 13. And be it enacted, That the president and
directors of said company, or a majority of them, or any
person or persons authorised by a majority of them, may
agree with the owner or owners of any land, earth, tim-
ber, gravel, stone or other materials or any improvements
which may be wanted for the construction or repair of
any of their works, and with the owner or owners of any
waters or water rights which may be wanted for the sup-
ply of the same, for the purchase or use and occupation
of the said land, earth, timber, gravel, stone, waters at
other materials, and if they cannot agree or if the owner
or owners or any of them be a feme covert, under age
non compos mentis, or out of Allegany county where such
lands, waters or materials shall be wanted, application
may be made to any justice of the peace of said county,
who shall thereupon issue his warrant under hand and
seal, directed to the sheriff of said county, requiring him
to summon a jury of twenty inhabitants of said county,