1845.

LAWS OF MARYLAND.

CHAP. 287.

Directors.

ty, in value of the stock, shall be competent to pass or-
dinances which shall be binding on the corporation.
SEC. 5. And be it enacted, That J. Harrison Thomas,
James Harwood and Henry Tiffany, shall be and con-

tinue, the directors, until the next triennial meeting of
the stockholders; the directors shall appoint their pre-
sident, vice-president, and other officers, and shall fill
up all vacancies which shall happen in their body, du-
ring the term of their appointment; and they shall con-
tinue in office until a new election; the directors are au-
thorised and empowered to establish regulations for the
transfer of the stock of the corporation, and for proof of
the ownership thereof, to employ, compensate and dis-
miss, at pleasure, all officers and agents, deemed by them
needful or useful; to enter into contracts, and to use
therefore, the name and seal, or the name of the corpo-
ration; and to make by-laws and regulations, and to re-
peal the same at their discretion; to call meetings of the
stockholders, as often as they see fit to, when they shall
make reports from time to time, of the state of their af-
fairs; to declare dividends of the profits, or any, portion
of the profits thereof, according to their judgments, and
generally to exercise all the powers and privileges con-

fered on, or appertaining to this corporation; provided,
the same be not incompatible with ordinances passed at
general meetings of the stockholders.

Issues forbid.

SEC. 6. And be it enacted, That the powers of this in-
corporation shall not be construed to comprehend bank-
ing privileges, or to authorise the issue of any bill or
hole, in the form or style of a bank note.

Right reser-
ved.

SEC. 7. And be it enacted, That the legislature re-
serves the right to repeal this Charter at pleasure.

CHAPTER 287.

Passed Mar.
7, 1846.

An additional supplement to an act entitled, an act relat-
ing to the Liens of Mechanics and others upon Build-
ings, and the supplements thereto.

Amendments
in proceedings.

SECTION 1. Be it enacted by tile General Assembly of
Maryland, That in the construction of the original act,
to which this is a supplement, and of the supplements
thereto, the same effect shall be given as to acts of As-
sembly which confer a general jurisdiction, or the reme-