1883 private laws – Ch.6 Sec.4
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CHAPTER 6 An act to incorporate Blackwells Durham Tobacco Company. The General Assembly of North Carolina do enact:
That the stockholders of said corporation shall have power to make all rules and regulations for the government of said corporation and transaction of its business; they shall have power to elect, in such manner as a majority of the stock may prescribe, such officers as they deem necessary, prescribe their duties, compensation and term of service, and in general said stockholders may make such by-laws and regulations for the government and conduct of said corporation and its business, not inconsistent with the laws of this state and the laws of the United States, as they may consider best calculated to serve their interest.