1849.

LAWS OF MARYLAND.

CHAP. 239.

tors to serve until a new election, and if, for any cause
said election shall not be held on the day appointed, the
same may be held at any time within ninety-days there-
after, a majority of said directors shall have power to
act at any meeting, as if all were present, and to fill
any vacancy that may occur in their body from death,
resignation, or otherwise.

Powers of pres-
ident and direc-
tors, &c.

SEC. 4. And be it enacted, That the president and
directors shall have power and authority to appoint and
employ all such officers, agents, mechanics, and other
persons, as they may deem necessary, prescribe the mode
of elections, and appoint the time of holding the same,
the manner and evidences of the transfer of stock, and
the condition of the forfeitures thereof, establish such
bye-laws, rules or regulations as they may deem neces-
sary, not contrary to the laws of this State, and the same
to change, add to or amend, as may, from time to lime,
appear necessary or proper, declare dividends of profit,
or so much thereof as they may deem expedient, and
the said president and directors, or a majority of them,
are hereby authorised and empowered to exercise all the
powers by this act given to said body corporate.

First board of
directors.

SEC. 5. And be it enacted, That the persons named
in this act are hereby constituted directors, with power
to choose from among their number a president, and
they are hereby empowered to act as and exercise all
the powers of president and directors under this law,
until superseded by an election of directors pursuant to
the provisions of this act.

Banking forbid.

SEC. 6. And be it enacted, That nothing herein con-
tained shall be so construed and taken as to authorise
any banking institution, or any thing in the nature of a
banking institution.

Right reserved.

SEC. 7. And be it enacted, That the Legislature
hereby reserves to itself the right to change, alter or re-
peal this act of incorporation at pleasure.

CHAPTER 239.

Passed Mar. 4,

1850.

An act. to make valid a Deed from George Mason to
Thomas Beall.

Deed made
valid.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That the deed made upon the twenty-
fifth day of October, in the year seventeen hundred and