| 1817.
CHAP. 184. |
LAWS OF MARYLAND.
loan subject to the same conditions and privileges as all other stock. |
To admit free
scholars. |
7. AND BE IT ENACTED, That when there shall
be balances in
the Lancaster department of the school, the trustees shall admit
free scholars, giving orphans the preference, and if the number of
applicants shall exceed the vacancies they shall be selected by lot. |
Subscribers not
answerable individually. |
8. AND BE IT ENACTED, That no subscriber or
stockholder
shall be answerable in his person or property for any contract or
engagement of this corporation, or for any losses, deficiencies or
failures, but the whole of the said stock, together with all property,
rights and credits, belonging to the said corporation, and nothing
more, shall be at all times amenable for demands against it. |
Commissioners appointed
to take
subscriptions, &c. |
9. AND BE IT ENACTED, That Nicholas Snethen,
Robert Cumming,
Sabrith Sollers, Abraham Jones, Henry Baker, Zachariah
Danner, and Thomas Sappington, he and they are hereby appointed
commissioners to take subscriptions, receive money, hold an election
for trustees, and do all other things necessary to carry this act
into effect, and the said commissioners, immediately after the date
of this act, shall give public notice thereof to the inhabitants of
Liberty-town, and its vicinity, and cause subscription books to be
kept open for five successive days, and the next day thereafter
shall hold an election to elect seven trustees; and that every subscriber
who shall have paid two dollars on each share subscribed
for by him, shall be eligible to vote or become a trustee, at the said
election; and that when the said commissioners shall have declared
seven trustees to be duly elected, they shall deliver over to them all
the books, papers, money and effects, belonging to the said corporation,
and their commission shall cease. |
| Votes allowed. |
10. AND BE IT ENACTED, That the votes for
trustees shall be
regulated and given as follows: For one share one vote; two shares
two votes; for five shares three votes; for ten shares five votes, and
for every five shares above ten one vote; provided that no stockholder
shall be entitled to more than ten votes. |
| Election of trustees. |
11. AND BE IT ENACTED, That the trustees elected
as aforesaid
shall hold their office until the first Monday in January eighteen
hundred and nineteen, and that on the same day in every succeeding
year, there shall be an election holden in Liberty-town, under the
direction of the trustees, to elect or re-elect seven trustees, so as to
keep up the number of seven trustees for ever, and that every
stockholder who shall hold stock to the amount of not less than
one share, shall be eligible to vote or become a trustee at all future
elections, provided that in the event of an election not being holden
on the aforesaid day, this corporation shall not be considered as
dissolved, but ten days shall be allowed to hold the said election;
trustees in office to retain their powers till such election. |
| Votes to be by ballot. |
12. AND BE IT ENACTED, That the votes for
trustees shall be
given by ballot, either in person or by proxy, signified under the
hand of the stockholder. |
|
_____
|
Passed Feb. 13, 1818.
* 1804, ch. 13. |
CHAP. CLXXXV.
A Supplement to an act*, entitled, An act authorising a Lottery
to
raise a sum of money for the improvement of the Navigation
of
Corsica Creek in Queen-Anne's County. Lib.
TH. No. 6, fol. 119. |
| Preamble. |
WHEREAS, several of the persons who were appointed
managers
by the act to which this is a supplement, are now dead, and the sum |
|
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