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the holders of two thirds of the whole stock of the company, or
their proxy. Ninthly, and generally to do and transact in all
things for the said company relative to the undertaking, common
stock, and joint funds and property aforesaid, in as full and com-
plete a manner as the individual stockholders might do were they
personally present.
Article 10. The profits made and received by the company in
carrying on the manufactory, shall be applied, in the first place,
to the payment of all expenses incurred in conducting and carry-
ing on the establishment, including such salaries to the officers
and clerks as may be necessary, and the surplus to be divided
amongst the stockholders, in proportion to their shares, annually.
Article 11. The original subscribers to this association, and the
assignees, transferees, and legal representatives of such sub-
scribers, shall be taken and deemed, to all intents and purposes,
to be members of this company, and shall be entitled to all the
rights, benefits and advantages, to arise in any manner there-
from, or from the property's works and capital stock thereof, in
proportion to the amount of their stock and interests respectively;
Provided, that no transfer or assignment of the said capital stock
shall be valid unless it he made on the hooks of the company, and
in such manner as the president and directors shall appoint; and
every person having so transferred or assigned the whole of his
or her interest and stock in said company, shall thereafter reuse
to be a member of said company.
Article 12. And be it enacted, That the president, and each of the
directors, before he enters upon the duties of his office, shall
take the following oath, or affirmation, as the case may be: " I
"do solemnly swear, (or affirm) that I will impartially, faithful-
"ly, diligently and honestly, execute the duties of ------confor-
" mably to the act of incorporation, constitution, or articles of
"association, of the same, and the trusts reposed in me, to the
"best of my skill and judgment ;" and the clerks, book-keeper,
and other officers, shall also take a similar oath, or affirmation,
and shall, as shall also the president and treasurer, give bond,
with security to the satisfaction of the directors, for the faithful
performance and discharge of their duties in their respective
stations.
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Dec. Ses. 1816.
How profits are
to be applied.
Original sub-
scribers to be
members.
Proviso.
Oath of presi-
dent, &c.
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CHAPTER 24.
An act authorising a Lottery for raising a sum of money to
repair the Churches in King and Queen Parish, in Saint-
Mary's County, and to purchase a Glebe.
Sec. 1. Be it enacted by the General Assembly of Maryland,
That it shall be lawful for the vestry of King and Queen Parish,
or a majority of them, to propose a scheme of a lottery, to raise
such sum of money as may be necessary, not exceeding ten thou-
sand dollars, and to sell and dispose of the tickets; Provided,
said vestry men, or a majority of them, before, the sale of any
ticket or tickets in said lottery, give bond to the state of Mary-
land, in the penalty of twenty thousand dollars, conditioned that
they will well and truly apply so much of the money arising there-
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Passed Dec. 31
Vestry to pro-
pose a scheme.
Proviso.
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