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and are hereby declared to be for agricultural and horti-
cultural purposes, and the erection of buildings, gun-
ning and fishery, and having, holding and disposing
of real and personal property and estate, and perform-
ing all such acts as shall be found necessary and con-
sidered useful by said corporation, for the objects and
purposes aforesaid.
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Capital stock.
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SEC. 2. And be it enacted, That the capital stock
of said corporation shall at no time exceed one hun-
dred thousand dollars; to be divided into shares of five
hundred dollars, each of said shares to be held trans-
ferable and assignable as personal property, but said
shares shall only be transferable upon the books of
said corporation by the owner, or by his, her or their
attorney or legal representative.
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Election of
President and
directors.
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SEC. 3. And be it enacted, That for the governing,
transacting the business and carrying into effect the
objects and purposes of said corporation, there shall be
chosen from among the male stockholders a president
and six directors by ballot, to serve for one year and
until their successors are chosen, the first election to be
held in the City of Baltimore as soon as one half of
said stock shall have been subscribed and paid for,
and an election annually thereafter to be held in said
city on the first Wednesday of September; a stock-
holder shall have as many votes as he, she, or they
shall own shares of stock, as shown by the books of
said corporation, which shares may be voted in person
or by proxy; this corporation may pass and make all by-
laws, rules and regulations as may by it be deemed
necessary for the government of the same, until the ,
first election for president and directors is held, said
William Slater, Robert Purivance, junior, E. Beatty
Graff, William P. Lightner, George U. Graff, William
P. Giles and George G. Brewer, shall have full power
and authority to exercise all the corporate powers of
said corporation; the service of any legal process on
the president or on any directors shall be deemed
a service on said corporation.
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Banking for-
bid.
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SEC. 4. And be it enacted, as aforesaid, That said
corporation shall not exercise any banking privileges,
and that this act shall commence and take effect from
and after its passage.
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