1833.

LAWS OF MARYLAND.

CHAP. 79.

paratus, together with such buildings and other convenient
es and appurtenances, as may be found necessary to carry
the purposes of the corporation into full and complete effect.

Capital stock

Sec. 3. And be it enacted, That the capital stock shall
consist of shares often dollars each, not exceeding in the
whole five thousand shares; and the said corporation shall
be able and capable in law, in addition, to purchase,

Property— limited

General meeting

receive, and hold estate in fee simple, or any less estate,
and personal property; Provided, that the clear annual in-
come of all such estate and property shall not exceed ten
thousand dollars.
Sec. 4. And be it enacted, That there shall be a meeting
of the stockholders of the said corporation on the first
Monday in January, in each and every year, after the pre-
sent year, and on the first Monday in the month next suc-

Elect officers

ceeding the passage of this act of incorporation, for the
purpose of electing a President, Vice President, Secretary
and Treasurer; and a board of five curators, to manage the
concerns of the corporation; all of whom shall be elected
by ballot, and each share of stock shall entitle the holder

Votes rated

to one vote; and any general meeting of stockholders, at
which a majority of members, as well as of stock taken,
shall be present, shall be competent to pass any by-law,
binding upon the corporation.

Monthly meetings

Sec. 5. And be it enacted, That the corporation shall
hold a general meeting once in each and every month for
the transaction of its business; and such other meetings for
the exercises of the Lyceum, as may be provided for in
the by-laws, rules and regulations thereof; shall regulate
the admission of members, other than stockholders; insti-
tute lectures, and such other literary and scientific exercises,
as may be deemed beneficial -for the promotion of literature
and the diffusion of useful knowledge.

Power and duty of
curators

Sec. 6. And be it enacted, That the board of curators
shall have power to fill up any vacancies that may occur
in their body during the year, the same to be submitted to
the stockholders at their next monthly meeting, for their
confirmation; they shall also establish regulations for the
transfer of the stock of the corporation, and for proof of
ownership therein; employ, compensate and dismiss at
their pleasure, all agents and subordinate officers, deemed
by them necessary; to make contracts, and to use therefor
the name and seal of the corporation; to make regulations
for the transaction of their business, and the same to alter
or repeal at discretion; to call special meetings of the stock-