T. HOLLIDAY HICKS, ESQ., GOVERNOR.

1860.

SEC. 16. And be it enacted, That as soon as prac-
ticable after the passage of this act, the persons
named in the first section thereof, or their assigns,
shall open books for subscription to the capital
stock of the company, at some public place or
places in the city of Baltimore or elsewhere, of
which public notice shall be given, and shall keep
the same open for thirty days or longer, in their
discretion.

CHAP. 390.

Opening of
books.

SEC. 17. And be it enacted, That the stock of this
company may be assigned and transferred on the
books thereof, in person or by power of attorney
only, but no stockholder indebted to the company
shall be permitted to make a transfer, or receive a
dividend, until such debt is paid or secured to be
paid to the satisfaction of the president and board
of directors.

Transfers,
&c.

SEC. 18. And be it enacted, That the president
and directors may call a general meeting of the
stockholders, for any purpose relative to the affairs
of the company, giving at least fifteen days notice
thereof in two daily newspapers of the city of Balti-
more, and any number of stockholders, not less than
fifty holding together not less than five hundred
shares of the company, may at any time apply to
the president and directors, to call a general meet-
ing of the stockholders, for any purpose relative to
the affairs of the company; and if the president
and directors refuse to call such meeting, the num-
ber of stockholders, proprietors of the said num-
ber of shares, shall have power to call a general
meeting of the stockholders, giving at least fifteen
days notice in the said newspapers published in the
city of Baltimore, specifying in such notice the ob-
ject of the meeting.

Meetings.

SEC. 19. And be it enacted, That a majority, in
amount, of the whole number of stockholders may,
in their discretion, accept and exercise any addi-
tional powers and privileges which may at any time
be conferred upon this company, either by amend-
ments of this act or by any other act hereafter
passed.

May exercise
additional
powers.

SEC. 20. And be it enacted, That said incorporation
shall have the power, and are hereby authorised to
establish said company either as above provided or
upon the mutual assurance principle, as may be
determined by the stockholders thereof, at their

Company —
how establish-
ed.