THOMAS H. HICKS, ESQUIRE, GOVERNOR.

613

tion are empowered to do, but shall submit the
same at the first regular meeting after the fram-
ing of the same; the stockholders shall direct the
time and manner in which instalments upon the
stock shall be paid, and allow interest thereon,
and the penalty for non-payment; in all meetings
of stockholders a majority of stock shall consti-
tute a quorum for the transaction of business, and
three judges of election shall be elected by the
stockholders, and meetings may be called by any
three stockholders giving ten days public notice ;
the president and directors shall be stockholders,
and upon any one of them ceasing to be such, he
shall cease to hold office; vacancies in the board

may be supplied by the directors.

SEC. 6. And be it enacted, That the said corpo-

ration shall have power to enter into contracts
necessary for the purpose thereof, to lease lots, to
borrow money, and to mortgage their property to
secure the same, and to prescribe regulations for
the transfer of stock, and for the proof of owner-
ship therein; and all the property, stock and joint
stock of the corporation shall be bound and an-
swerable for any contract or engagement made or
incurred by the said corporation.

CHAPTER 413.

Corporation
authorised to
enter into con-
racts, borrow
money, &c.

AN ACT for the benefit of Primary Schools in
District Number three, Election District Num-
ber two, in Caroline county.

Passed March
10, 1858.

SECTION 1. Be it enacted by the General Assem-
bly of Maryland, That section eight of a sup-
plementary act passed at December session eigh-
teen hundred and forty-six, chapter three hundred
and fifty-three, be so altered and amended as to
enable the Trustees of Primary Schools, in School
District Number three, Election District Number
two. in Caroline county, to levy an additional tax

Trustees au-
thorised to
make an addi-
tional levy.