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Voting regula-
ted.
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SEC. 4. And be it enacted, That every holder of a
certificate of stock of one hundred dollars, and who
shall he a contributor by note given to the company,
in advance of premium, to the amount of three hun-
dred dollars, shall be considered a member of the
company, and entitled to vote at all elections of di-
rectors and meeting of the company, and none other
shall be deemed members of the corporation, and
every such holder of a certificate, and contributor by
note, in the aggregate amount of four hundred dollars,
and pro rata, in case of the reduction or cancelling
of said notes, given in advance for premiums, as pro-
vided for in the preceding section, shall be entitled to
one vote for each and every four hundred dollars, and
pro rata in case of reduction or cancelling as afore-
said, so held and contributed, but no person shall be
entitled to more than ten votes; votes may be given
by proxy.
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Officers — how
and when cho-
sen.
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SEC. 5. And be it enacted, That for the ordering
the affairs, transacting the business, and carrying into
effect the object of said corporation, there shall be
twelve directors, who shall be members of said cor-
poration at the time of election, and residents of the
city of Baltimore; the said twelve directors shall be
chosen by ballot at the annual meeting, for the term
of one year, and until others are chosen in their stead,
and at their first meeting after each election, the di-
rectors shall choose a president, and should it at any
time happen that an election of directors shall not be
made upon the day when, pursuant to this act, it
ought to have been made, the corporation shall not,
for that cause, be deemed to be dissolved, but it shall
be lawful, upon any other day thereafter, to make an
election of directors in such manner as hereinbefore
directed, or as may be advised by any bye-law of the
corporation; and in case of the death, resignation or
disqualification of the president or of a director, the
place so becoming vacant may, for the remainder of
the year, be filled up by the board of directors for the
time being, in case of sickness or necessary absence
of the president, his place may be supplied by a di-
rector, whom the board of directors may, at their next
regular meeting, appoint to act as president pro tempore,
but until such appointment by the directors, the pre-
sident may appoint a director to supply his place, as
president pro tempore; before the directors, at their
first regular meeting after each election as above men-
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