JAMES THOMAS, ESQUIRE, GOVERNOR.

1833.

George Ellicott, or a majority of them shall, as soon after
the passage of this law as the same can conveniently be
done, call a meeting of the said subscribers, (having first
given such notice of the time, place and object of the
meeting as to them shall seem reasonable,) at which said

CHAP. 86.

meeting, five persons shall be elected as Trustees of The
Patapsco Female Institute, who and their successors shall
be the keepers of the seal of the said corporation, and
manage and dispose of its property, funds and concerns,
and cause regular books of their proceedings to be kept

Choose Trustees

HOT the inspection of the Stockholders; and the said Trus-
tees shall continue in office until a new election of Trustees

Term

shall take place, as hereinafter provided for: each share of
stock entitling its holder to one vote in the choice of said
Trustees,

Votes rated.

Sec. 3. And be it enacted, That on the first Monday in
February, eighteen hundred and thirty-five, and on the same
day in each and every year thereafter, an election of five
Trustees shall be made as aforesaid, by the Stockholders
at such time and place, in such manner and upon such no-
tice as the Trustees for the time being, or the rules and by
laws of the corporation shall prescribe: but in case any
such election of Trustees should not be made on the day
appointed fay law, the said corporation shall not thereby be
dissolved; but the Trustees for the time being may cause
the said election to be made in like manner, on any day

Annual election of

Trustees

within three months thereafter; and in case the Trustees
shall refuse, or neglect to cause the said election to be made
within the period aforesaid, any five Stockholders of said
company may proceed and cause the said election to be
made in the same manner as if they were the Trustees for
the time being.

Case of omission

Sec 4. And be it enacted, That the shares of the said
capital stock shall be deemed and taken as personal proper-
ty, and be transferable only on the books of said company,
and according to such regulations as shall be prescribed by
the said Trustees.

Shares personal
property

Sec. 5. And be it enacted, That the Trustees for the
time being, after such notice given, as they shall deem rea-
sonable, may from time to time call on the said subscribers, at
such times and places as the said Trustees shall appoint,

Installment

until the whole amount of such stock is fully paid up, and
in case any subscriber shall refuse or neglect to make such
payment at the time and place appointed, it shall and may
be lawful for the said Trustees to recover against such de-

Case of neglect