THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1846.

any stockholder or stockholders who may be proprietors
of one-fourth of the whole capital stock, first giving ten
days notice of such meeting and its object, either writ-
ten, or by advertisement, in at least two daily papers
published in the city of Baltimore; and at any meeting
of the stockholders, a quorum shall consist of the owner
or owners, or their representatives, of at least a majority
of the capital stock, and every such meeting shall have
full power and authority to pass, alter or repeal by-laws
and regulations for the management of the affairs of the
corporation.

CHAP. 133.

SEC. 5. And be it enacted, That if the debts of said
corporation shall exceed at any time the amount of two-
thirds of its capital stock actually paid in, the president
and directors, under whose administration it may happen,
shall be liable for the same in their individual capacities,
and an action or actions may be brought in such case
against them or any of them, or against their heirs, exe-
cutors or administrators, in any court of record in this
State, by any creditor or creditors of said corporation,
and may be prosecuted to judgment and execution, any
condition, covenant or agreement to the contrary not-
withstanding, but nothing herein contained shall be con-
strued to exempt said corporation, or the lands, tene-
ments and estate of the same, from being liable for said

Liable in their
individual ca-
pacities.

excess; provided always, that such of the directors as,
may have been absent when the said excess was created,
or who may have dissented from the resolution or act or
acts whereby the same was created, may respectively
exhonerate themselves from all personal liability, by
forthwith giving notice of the fact, and of their absence
or dissent, to the Governor of the State, and to the
stockholders at a general meeting, which they shall have
power to call for the purpose.

Proviso.

SEC. 6. And be it enacted, That nothing in this act
contained shall be so construed as to confer any banking
privileges on the said corporation, or the right to issue
any note in the nature of a bank note.

Issues forbid.

SEC. 7. And be it enacted, That no president, direc-
tor or stockholder in said company, shall hold or execute
any agency for the purchase or sale of the stock or
goods of said company, without the consent expressed
in writing of the holders of at least one-half of the capi-
tal stock of said company, which consent shall at all
times be revocable at the pleasure of those who gave
the same.

May hold any
agency.