1847.

LAWS OF MARYLAND.

CHAP. 202.

Proviso.

for every share owned by him, her or them; provided,
said stockholder shall not hold more than fifty shares of
said capital stock, and for every three shares over fifty
which he may hold each stockholder shall be allowed one
vote, and each stockholder may depute any person to
vote for him, her or them, as his, her or their proxy, and
the commissioners aforesaid or any four or more of them
shall be judges of said first election of directors.

General meet-
ings.

SEC. 6: And be it enacted, That the stockholders in
said company or a majority of them in Value shall, on
the first Monday of June after the organization of the
company as directed in the preceding section of this
act, and on the first Monday in June in each succeeding
year, elect by ballot as aforesaid for the ensuing year
twelve directors as aforesaid, and the directors of said
company or a majority of them shall have power to ap-
point one or more judges of all elections, and to elect a
president as aforesaid and to allow him a compensation
for his services if they shall deem proper, and may fill
all vacancies accruing in their body until the next an-
nual election, and all elections required by this act to be
made on a particular day and not made on that day
may be made on any other day after thirty days public
notice thereof, and general meetings of the stockhold-
ers may be called during the interval between their
stated annual meetings by the president and directors
or a majority of them, of by any number of the stock-
holders holding one-fourth of the stock of said company

Proviso.

provided, that public notice of at least thirty days be
given of the time and place of holding of such meeting,
which said notice shall also state the object of the call.

To take an
oath.

SEC. 7. And be it enacted, That every president and
director of said company before he acts as such shall
swear or affirm, as the case may be, that he will well
and truly discharge the duties of his office, to the best
of his skill and judgment.

Duties of di-
rectors.

SEC. 8. And be it enacted, That at the regular annual
meetings of the stockholders of said company it shall
be the duty of the president and directors in office for
the preceding year to exhibit a clear and distinct state-
ment of the affairs of the company, that at any called
meetings of the stockholders or a majority of those
present may require similar statements from the presi-
dent and directors, whose duty it shall be to furnish
them when thus required, and that at all general meet-
ings of the stockholders a majority in value of all the
stockholders in said company may remove from office