96

LAWS OF MARYLAND.

specifying in such notice the object of such
meeting.

Failure to
elect at proper
time not to dis-
solve company.

SEC. 22. And be it enacted, That should it so
happen from any cause whatsoever, that the an-
nual election of directors should not take place in
any year, on the day hereinbefore mentioned, for
that purpose, this Company shall not for that rea-
son be dissolved, but such election may be law-
fully held on such convenient day thereafter, as
may for that purpose be fixed on by the President
and directors, they causing ten days notice thereof,
to be given in two or more of the daily newspa-
pers printed in the city of Baltimore.

Power to is-

sue certificate
of stock.

SEC. 23. And be it enacted, That this Company
shall have power to issue to each member, a cer-
tificate of the shares of stock held by him, and to
enforce the payment of all instalments and other
dues, but nothing in this act shall be construed
to authorise said Corporation to issue any note,
token, scrip, device or other evidence of debt, to
be used as a currency.

Reservation.

SEC. 24. And be it enacted, That this act shall
continue and be in force until the year, eighteen
hundred and seventy-eight, and until the end of
the next session of the Assembly, which shall take
place thereafter; and that the Legislature reserves
to itself the right to alter or annul this act of in-
corporation at pleasure.

Capital taxed.

SEC. 25. And be it enacted, That in returns of
said capital stock to the assessors for taxation, the
amount of notes given for said stock, as well as
the cash paid in, shall be estimated as capital and
taxed accordingly.

In force.

SEC. 26. And be it enacted, That this act shall
take effect from and after the day of the date of its
passage.