LEVIN WINDER, ESQ. GOVERNOR.

123

aforesaid, of a time and place by them to be appointed,
not less than thirty days from the publication of the first
notice, at which time and place the said subscribers shall
proceed to organise the said corporation, and shall
choose by a majority of votes of the said subscribers, by
ballot, to be delivered in person or by proxy duly autho-
rised, one president, twelve managers, one treasurer, and
such other officers as they shall think necessary, to con-
duct the business of the said company for one year, or
until such other officers shall be chosen; and shall and may
make such bye-laws, rules, orders and regulations, not
inconsistent with the constitution and laws of the United
States, the state of. Maryland, or of this commonwealth,
as shall be necessary for the well ordering the affairs of

Dec. Sess.
1813.

the said company; Provided always, That no person
shall have more than five votes at any election or in de-
termining any questions arising at such meeting, whate-
ver number of shares he may be entitled to, and that
each person shall be entitled to one vote for every share

Proviso.

by him held under the said number; Provided neverthe-
less, That all future annual elections of the said corpo-
ration shall be held on sueh notice and at such places in
manner and form aforesaid, as the managers aforesaid
shall direct and appoint.

Proviso.

4. AND BE IT FURTHER ENACTED by the
authority aforesaid, That the said company shall meet
on the first Monday of June in every year, at such place
as shall be fixed by their bye laws, for the purpose of
choosing officers as aforesaid for the ensuing year in
manner aforesaid, and at such other times as they shall
be summoned by the managers in sueh manner and form
as shall be prescribed by their bye laws: at which annual
or special meetings they shall have full power and au-
thority to make, alter or repeal by a majority of votes in
manner aforesaid, all such bye laws, rules, orders and
regulations as aforesaid, and to do and perform any oth-
er corporate act.

Meetings of
company.

5. AND BE IT FURTHER ENACTED by the

authority aforesaid, That the president and managers
first to be chosen as aforesaid, shall procure certificates
to be written or printed for all the shares of the stock of
the said company, and shall deliver one such certificate
signed by the president and countersigned by the trea-
surer, and sealed with the common seal of the said cor-
poration to each person for every share by him subscrib-
ed and held, be paying to the treasurer in part of the
sum due thereupon, the sum of five dollars for each
share; which certificate shall be transferable at his plea-
sure in person or by attorney in the presence of the pre-
sident, secretary or treasurer, subject however to all pay-
ments due and to grow due thereon; and the assignee
holding any certificate, having first caused the assign-
ment to be entered in a book of the company, to be

Certificate
of shares — to
be transferable.