1849.

LAWS OF MARYLAND.

CHAP. 430.

Voting regula-
ted.

SEC. 6. And be it enacted, That except at elections
for or on motions to dismiss officers, each stockholder
of said corporation shall he entitled to vote in person or
by written proxy, one vote for each voting share that
he, she or they may hold, and in all cases, all shares
which have been subscribed for, except those on
which there shall be arrears due for, one month or
more, to be considered voting shares, whether they
have been redeemed or not, also in all cases all sub-
scribers for stock, except those on whose subscriptions
there shall be arrears due for one month or more, shall
be entitled to vote, whether their shares have been re-
deemed or not.

Compensation.

SEC. 7. And be it enacted, That at any regular
meeting of said corporation, by a vote of two-thirds of
the voting shares, the said corporate body may if it
is deemed necessary, fix a compensation for any or all of
their officers services, and in their discretion may take
bonds in the name of said corporation from any or all
of said officers, such as may be required for securing to
said corporation the faithful discharge of said officers
duties.

May establish
bye-laws.

SEC. 8. And be it enacted, That the stockholders
at any regular meeting may make such bye-laws, and
insert therein such provisions for imposing fines and en-
forcing payment thereof, for neglect of duty by any of
the officers or stockholders of said corporation, as they
may deem necessary for the government of the busi-
ness of said corporation, by a vole of two-thirds of the
voting shares given; and in like manner may alter, re-
peal and amend any of their bye-laws, and make new
bye-laws; provided, such bye-laws be not contrary to
any of the provisions of this act.

Weekly meet-
ings.

SEC. 9. And be it enacted, That this corporate
body may hold regular weekly meetings, at such limes
and places as they may agree upon.

Redemption of
stock.

SEC. 10. And be it enacted, Then when the funds
of said corporation shall amount to enough money to
redeem one, or more than one share of stock of said
corporation, the same shall be offered to redeem the
share or shares of such holder who will receive the
lowest sum therefor, notice shall be given by the presi-
dent or president pro tempore, that bids will be received
to redeem a share or shares at the meeting following the
one on which the notice is given, and if at such bid-
dings a redemption price be started which is not satis-
factory to the president, or the president pro tempore,
and a majority of the directors present at such bid, he