Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1868-05-21
CHAPTER Al =
An ACT

IN ~.
r, -aroa1 Article twcntj j-six Of the Code
II Pnb,:y General Laws, and TO enact &
substitute therefor, aaI TO repeal sectier
tw.h,y-,va If Article sixteen, sections
riae.v-,iue t. one Lra.irel and three,
Grin. .a,a. Article. and sections thur
ty-.hrae 10 tsrsy-thrae. Of Article eigh-
ty-rirbt .hG CoIc Of Public Geucr-
nty, .arylaud, and c-.-.-
Assembly & ,,'EFor.
alton may acknolS re any decd, which
such corporation Ia. the power to make
BY attorney, appointed by such corpora
ton. under the seal thereof, and such ap-
pointmeut may be embodied IN the deed
Sec. ; And be it enacted, That No
CORPORATION created or 10 be created, ard
not expressly incorporated for banking
purposes, shall By any Implication or con-
s,ruction, be authorized to exercise bank
ing privileges or to Issue any note token
or devise, scrip or other evidence OF dcbt
10 be used as currency.
Sec. 8. And be il enacted, That when
the corporate powers of any corporation,
Incorporated under the laws Of this State,
are directed by lis charter, or certificate
of incorporation to be exercised by any
particular body or number Of persons 4
majority of such body or persons Ii 1t be
not otherwise provided IN the charter or
certificate of Incorporation, shall De a suit
ticicnt number to form board for the
a. =
ion Of majority OF the persons duly as
sembled as a board, shall be valid as a
corporate Act,
Sec: /. And be it enacted, That copy
Of any bylaw, of any corporation, lncor-
porated under the laws of this State, un-
der its seal, and purportins to be signed
by the President, Secretary or Treasurer
Of the corporation, shall be received as
prin,.! Jacie evidence of such bylaw, IN
! the Courts Of this State.
Sec. 5 And be it enacted, That the
President and Directors st every corpora
ton shall keep full, fair, and correct ac-
counts of their transactions, which shall
be omen at all times to the inspection oi
the Stockholders or members, and they
shall annually prepare u full and true state
mcut of the atfuirs of the Corporation,
which shall be certified to by the PreSl
dent and Secretary, and submitted at the
annual meeting of the stockholders OF
members.
See. 6. And be it enacted, That gene
n meetings of the stockholders OF any cor
poration, incorporated under the laws OF
this State, may be called at any time upon
the requirement Of stockholders entitled
to vote u majority of the stock OF said cor
poruion. of Which meeting not less than
ZEN days notice shall be given IN news
pancr published III the county III winch
the principal place of business OF SAID cor
poration is situated, and also IN news
n3ner published in the city of Baltimore
ana when said principal place OF business
is situated in SAID city, then N two news
.uapers published therein; and if the Pres
dent and Directors refuse to call suci
meeting. the SAID Stockholders SO owning
majority of saiu stock, may do 50 on
irving notice as above set forth.
sc. :. And bc it enacted, That at any
general meeting Of the stockholders, call
I'd as provided for in the next preeeed'n=
section, any President, Director or Direc
tors Of said corporation may, by vote o
a majority in interest of the whole mum
her Of stockholders, be removed from OF
fee, and another or others be appointel
in the place of the person or persons 81
removed to serve for the remainder Q
his or their term.
See. 5. Aud be it enacted. That when
ever five or more stockholders or any pr
yate CORPORATION. created under the law
Of this State. at least thirty days bctor
an election fnr Managers, directors o
other officers Of such corporation, elcctc
by the stock holders thereof, shall give no
tice in writing Of their intention to can
vas the votes which may be given at til
next election thereof, aud shall dellve
said notice at the usual place Of busincs
of such corporation, to the President
Cashier. Secretary. Director or other prln
cipal Manager of such company, 1t sha
bs the duty OF the officer receiving SUI
! notice Immediately to communicate tn
e ~ame BY mail TO all the stockholders {
such corporation liviugn the State
u See. 9. And be it enacted, That upo
i proof made to the judges OF any such elet
+ ton Of such notice having been delivere
as aforesaid BY any five stoekholdesr:
such Judges shall, before receiving til
votes. require every stockholder ofcrln
# TO vote In person the stock Of the corpora
K ton to make an oath or affirmation that tn
stock which such person proposes and Q.
: fers 70 vote in the election then 10 be held
: in his sole and bona fde property, or ot
r longs solely AMI bona tde 10 him and h
partner or partners in trade, or Is held b
> him as Trustee or In some tduclary rel.
: ton 10 be specified in such oath, an
= ;ha, his right and title to the same hs
!. been fairly1anl bona .rde and not color:
: bly and trandulcntly created or acquired
o ana not with any intcut to Increase III
number Of yot,, which would othrrwls
+ b2 allowed 10 said stock. nor Ill any MAI
e ner. directly or Indirectly, 70 Tiolat'
! avoid or cyaJe the standard, eI voting
d fixed either by the charter Of said comp;
n nv or its bylaws. aud that the said stooi
H. ID, best Of his knowledge, belief Al
: information, or any interest ne has ther
in. j not retained in his name or II tt
al hi> partner, on the books Of SAID CO
poratinn, with any such intent, design
n,,rpose. ana that be does design III
RESPECTS ana in good faith g comply vi
the charters Of the >aii corporation 4.
7. its regulations upon the suhle~; I yo...
stock tlc-c.o