1868/69_private laws_94_4
PLE Boy xeiit:                             AN ACT TO INCORPORATE THE MIDDLE FALLS MANUFACTURING | COMPANY, IN RICHMOND COUNTY. )
That within ninety days after the passage of this act that any three of the stockholders in the Company may call a general meeting vf the Company at any convenient place in Rockingham, and proceed to elect three Directors, requiring a majority of the votes present to make a choice, and the Directors thus chosen shall from among themselves choose a President, provided that a majority of the stock be represented in said meeting, and annually thereafter the stockholders shall meet in Rockingham, at such place as the Board of Directors shall designate, for the pur- pose of electing three Directors, which Directors, thus chosen by a majority of votes present, shall appoint one of their number President ; the Directors having appointed a President, the President and the other Directors shall be termed the Board of Directors, which Board of Directors shall appoint the other officers who may be required, and make such rules, regulations aud by-laws for the same as may be deemed necessary, and manage the business of the concern for one year: Provided always, That a majority of the stock shall be represented at such meeting, and the Board of Directors shall be considered in oftice until other Directors are chosen. A majority of the Board of Directors shall be capable of transacting business, and in case of the absence of the President, appoint a President pro tem.