Power of di-
rectors.

Sec. 3. And be it enacted, That the Directors
for the time being, or a .majority of them, shall
have power to elect from their own body, a Presi-
dent and Vice President, and shall have power to
fill all vacancies that may occur in those officers
and. in their own body; to appoint all other such
officers, agents and servants as they may deem
necessary to conduct and execute the business of
said corporation; to fix their compensation and in
their discretion to dismiss them, to take bonds for
the said corporation from all or any of the officers,
agents or servants by them so appointed, with se-
curity conditioned in such form as they shall ap-
prove for the faithful performance of the duties of
such officers, agents or servants, and to secure the
said corporation from loss; to invest the funds of
the said corporation as they shall see proper, and
generally to do any other act or acts touching the
interests of the society as they shall deem most safe
and beneficial, to admit members upon such terms
as the by-laws may prescribe, and to furnish proof
of admission and of all payments made by such
members upon their respective shares, whether in
advance or otherwise; to exclude members when
they have not any property in said corporation,
and to make all such by-laws as may be necessary
for the exercise of the aforesaid powers or the
powers vested in said corporation, and the same to
alter and repeal at pleasure; provided, that such
by-laws shall not be contrary to any law of this
State or of the United States.

Stock—how
paid.

Sec. 4. And be it enacted, That the said cor-
poration shall not exceed one thousand unredeemed
shares, at the par value of four hundred dollars
each, payable in instalments of one dollar per
week; but the by-laws may provide conditions for
the payment of all or any part thereof in advance,
and may also prescribe the entrance fee to be paid
by each stockholder, at the time of subscribing,
and if they see proper may limit the number of
shares which each stockholder may hold at any
one time, and the corporation shall have power to
enforce the payment of all instalments and other
dues due to the corporation from its members or
stockholders, by such fines and forfeitures as the
Directors may from time to time provide in the