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SEC. 5. And be it enacted, That the affairs of
said company shall be managed by the persons
named in the first section of this act, and who
are hereby constituted directors of said company,
until directors shall be elected as hereinafter pro-
vided, and in case of the decease of any one or
more of said persons, or in case of the refusal of
any one or more of said persons to act as directors,
the remaining person or persons shall have the
power to select other persons as directors for the
time being, in their stead.
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Management.
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SEC. 6. And be it enacted, That whenever the
said company shall be organised, before proceed-
ing to the prosecution of its business, a general
meeting of the stockholders shall be held in the
City of Baltimore or in the City of Cumberland,
at such time and place as the directors for the
time being may appoint, and of which appoint-
ment notice shall be given for at least two weeks,
by advertisement once a week in a newspaper in
each of the cities of Cumberland and Baltimore,
and that at such meeting, five persons, all of
whom shall be stockholders of said company,
shall be chosen as directors of said company, to
serve for one year thereafter and until the next
election shall be held, and that annually thereaf-
ter, either at Cumberland or Baltimore, as may
in their behalf be appointed by the directors for
the time being, like previous notice being given,
a general meeting of the stockholders shall be
held for the election of five directors for the suc-
ceeding year, and if from any cause it shall so
happen that an election shall not be made on the
appointed day, the said company shall not be
deemed, for that cause, to be dissolved, but such
election may afterwards be made on any day,
which may be appointed for that purpose by the
directors for the time being, notice thereof being
given as aforesaid; and the said directors of said
company shall have and exercise all the powers
and authority given to them by this act, and such
other powers and authority not inconsistent with
the provisions of this act as may be conferred upon
them by the resolutions and by-laws of the said
company.
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Directors to
be elected.
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