1836.

LAWS OF MARYLAND.

CHAP. 308.

shall thereupon cease to be a. member of the company
hereby incorporated, and the said shares of stork, as
to all legal purposes, shall be deemed personal estate,
and shall be assignable by transfer in such manner and
under such restrictions as the by-laws made pursuant
to this act shall provide.

Meeting to or-
ganise

SEC. 3. And be it enacted, That the three persons
first named in this act, or any two of them, or in case
of the death or absence of any of them, any other three
or two of the persons herein named, may appoint a time
and place, in the city of Baltimore, for the persons
above incorporated to meet, and shall give notice there-

Make regula-
tions

of to, the other members herein before named, and at
such meeting or at any subsequent meeting, a majority
of all the members of the company shall have power,
and may proceed to pass by-laws and resolutions for
regulating their affairs, and the mode of conducting
them, for the election or appointment, compensation and
dismissal of all such officers, agents and servants as
from time to time they shall deem necessary for super-
intending and transacting any business, or doing any

Receive sub-
scriptions

Enforce pay-
menu

Grant shares

act authorised by this charter; for receiving subscrip-
tions to the capital stuck, regulating the mode and time
of paying the same, of enforcing payment, or forfeiting
the stock, and of releasing any forfeiture, and the terms
of such release, for granting shares of the capital stock
as compensation, in whole or in part for services ren-
dered, property or materials furnished or money paid

General powers

to or for the company: to provide for the annual elec-
tion, by the stockholders, of a board of such number of
directors to manage the affairs of the company, and to
exercise such powers, consistent with the provisions of
this act as may be deemed advisable, each of the stock-
holders at such elections and at all meetings of the

Votes

members, to be entitled to one vote for each share of
bis stock; to provide for taking bonds with security,
conditioned for the faithful performance of the duty of
the treasurer, or any other officer or agent that may be
entrusted with the care of any of the funds of the com-
pany, to provide and contract for the erection and con-
struction of all such buildings and other improvements,
as shall be necessary to constitute a complete and con-

Furnishing

venient tavern or hotel and wagon yard, and if it shall
be deemed advisable, for furnishing the same in a com-