PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

CHAPTER. 149.

CHAP. 149.

An act to incorporate the Old Line Omnibus Company
of Baltimore, Maryland.

Passed Feb. 21,

1850.

SECTION 1. Be it enacted by the General, Assembly
of Maryland, That William Robertson, and his asso-
ciates, successors and assigns, be and they are hereby
cheated a corporation and body politic, by the name
and style of the Old Line Omnibus Company, and by
that name may have succession, and shall be able and
capable, in law, to sue and be sued, plead and be im-
pleaded, answer and be answered, in any court of law
or equity, and to make and use a common seal, and to
ordain and establish such bye-laws and regulations as
shall bo necessary and convenient for conducting the
affairs of the corporation, not repugnant to law.

Incorporated,

&c.

SEC. 2. And be it enacted, That the objects of said
corporation are declared to be the transportation of
passengers, to own real estate, and erect buildings
necessary and convenient to the conducting of the
business for which purpose they are authorised to pur-
chase, hold, sell, rent and lease land, in fee simple of
otherwise.

Object of cor-
poration.

SEC. 3. And be it enacted, That the capital stock of
said corporation shall not exceed seventy five thousand
dollars.

Capital.

SEC. 4. And be it enacted, That for the manage-
ment of the affairs of the company, the stockholders
shall elect a president and not less than three direc-
tors, who shall remain in office for one year, or until
successors shall be elected, a majority of whom shall
form a quorum or board, that a majority of stockhol-
ders shall at any time call a meeting, upon advising
all the stockholders, by advertisement or otherwise, of
the time and place of holding said meeting.

President and
Directors.

SEC. 5. And be it enacted, That the stock of the
said company shall be esteemed personal estate, that

all the property, estate, and joint stock of the corpo-
ration shall be bound and answerable for its debts and
liabilities.

Capital stock
to be personal
estate.

SEC. 6. And be it enacted, That nothing contained
herein, shall be construed as granting banking privi-
leges to said corporation, or exempting their property
and effects from general taxation.

Banking forbid.

SEC. 7. And be it enacted, That the Legislature re-
serves to itself the right to alter or annul this act of

Right reser-
ved.