446

LAWS OF MARYLAND.

	of the said Corporation for one year thereafter, and until a new election shall take place, and their successors are duly qualified ; and the members above named, or a majority of them, shall appoint the Judges of the first election, and all subsequent elections shall be conducted and the Judges ap- pointed in accordance with the by-laws.
	Sec. 3. And be it enacted, That the Directors for the time being, or a majority of them, shall
President.	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 these offices, and in their own body ; to appoint all other such officers, agents and servants as they may deem ne- cessary to conduct and execute the business of said Corporation ; to fix compensation, and in their dis- cretion 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 security conditioned in such form as they shall approve, for the faithful performance of the duties of such
Officer.	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 gen- erally to do any other act or acts touching the in- terest 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 such 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 power- 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.
Installments.	Sec. 4. And be it enacted, That the stock of the said Corporation shall not exceed one thousand un- redeemed shares, at the par value of four hundred dollars each, payable in installments of one dollar per week, but the by-laws may provide conditions for the payment of all or any part thereof in ad- vance, and may also prescribe the entrance fee to be paid by each stockholder at the time of subscrib-