E. LOUIS LOWE, ESQUIRE, GOVERNOR.

1852.

by the by-laws of the company; and public notice of
the times and place of holding such election shall be
published, not less than ten days previous thereto, in
the newspaper printed nearest to the place where the
operation of the said company shall be carried on, and
the election shall be made by such of the stockholder
as shall attend for that purpose, either in person or by

CHAP. 338.

Notice to be
given.

proxy; all elections shall be by ballot, and each stock-
holder shall be entitled to as many votes as he owns
shares of stock in said company, and the persons re-
ceiving the greatest number of votes shall be the trus-
tees, directors or managers; and when any vacancy
shall happen among the trustees, directors or managers
by death, resignation, or otherwise, it shall be filled for
the remainder of the year, in such manner as may be
provided by the by-laws of the said company; and in
case it shall happen at any time that an election of
trustees, directors, or managers shall not be made on
the day designated by the by-laws of said company, the
company for that reason shall not be dissolved, but it
shall be lawful on any other day, to hold an election
for trustees, directors, or managers, in such manner as
may be provided by the by-laws, and all acts of trus-

tees, directors, or managers shall be valid and binding,
as against such company, until their successors shall be
elected.

Election to
be by ballot.

Vacancy.

Elections not
made on day
designated.

SEC. 4. And be it enacted, That there shall be a
president of the company, who shall be designated
from the number of the trustees, directors, or man-
agers, and also such subordinate officers as the company
by its by-laws may designate, who may be elected or
appointed, and required to give such security for the
faithful performance of the duties of their office, as the
company by its by-laws may require.

President
be elected.

SBC. 5. And be it enacted, That it shall be lawful
for the trustees, directors, or managers to call in and de-
mand from the stockholders respectively, all such sums

of money by them subscribed, at such times and in
such payments and instalments, as the trustees, direc-
tors, or managers shall deem proper, under the penalty

of forfeiting the shares of stock subscribed for, and all
previous payments made thereon, if payment shall not
be made by the stockholders within ninety days after a
personal demand, or notice requiring such payment
shall have been published six successive weeks in the
newspaper nearest to the place where the business of the
company shall be carried on as aforesaid.

Payments and
instalments.

SEC. 6. And be it enacted, That the trustees, direc-
tors and managers of such company shall have power to

Power to

make by-laws.