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Session Laws, 1858
Volume 624, Page 4   View pdf image
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4

LAWS OF MARYLAND.

Proviso.

chase, exchange, gift or bequest; provided, how-
ever, that it shall be the duty of said company to
cancel any shares of stock to be acquired by them
under the authority herein granted, and that no-
thing in this act shall be construed to authorise
a re-issue of such shares.

Power to make
dividends.

SEC. 2. And be it enacted, That the said Canton
Company shall have power to make dividends
from time to time of their receipts from sales of
lands, or from other sources, among the holders
of the shares of their capital stock outstanding at
the time of such dividend, irrespective of the
stock which the said company may acquire under
the authority of this act.

No share of
stock owned by
Canton Compa-
ny to be voted.

SEC. 3. And be it enacted, That at elections for
directors and at meetings of stockholders, no share
of stock owned by the Canton Company shall be
voted, but that the acquisition of their shares by
the said company shall be considered, pro tanto, a
reduction of their capital stock, which is hereby
declared to consist of the number of shares which
may from time to time be outstanding in other
hands.

Number of di-
rectors limited
and fixed.

SEC. 4. And be it enacted, That the third sec-
tion of the act to which this is a supplement, so
far as it requires the election by the stockholders
of thirteen directors, is hereby repealed, and the
board of directors hereafter to be annually elected
is hereby fixed and limited at nine, of whom at
least five shall be and continue residents of Bal-
timore city or county.

In force.

SEC. 5. And be it enacted, That this act shall
take effect from the date of its passage.

CHAPTER 2.

Passed Janu-
ary 20, 1858.

AN ACT to change the name of Daniel Hart
Taylor to Daniel Taylor Hart.

Name changed.

SECTION 1. Be it enacted by the General Assem-
bly of Maryland, That the name of Daniel Hart
Taylor of Anne Arundel county, in the State of



 
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Session Laws, 1858
Volume 624, Page 4   View pdf image
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