308

LAWS OF MARYLAND.

pay the same, all the scholarships so transferred
and held by them for the purposes aforesaid, shall
be redelive.red to their respective owners, their ex-
ecutors, administrators and assigns, to be there-
after held, used and enjoyed by them, in the man-
ner provided by the said act incorporating said
Seminary.

Election for
Trustees, and
general meet
ings— how con-
ducted.

Sec. 5. And be it enacted, That the election for
Trustees of said Seminary, and all general meet-
ings under said charter, and the voting thereat
shall be conducted as at present provided, by the
scholarship holders in said Seminary, notwith-
standing their transfer of said scholarships in the
manner and for the purpose aforesaid, and said
scholarships can be by them sold and transferred'
in the usual manner, but subject to the rights and
claims of those who shall hold them by transfer,
as provided by this act.

Annual state
ments.

Sec. 6. And be it enacted. That annual state-
ments of the condition of said debt so paid off,
and in a course of reimbursement, shall be made
by those who hold it, to be recorded, and subject
to examination, upon the books of said Seminary,
copies of which shall be furnished to the scholar-
ship holders by the Secretary of the Trustees,
whenever they shall require it and said state-
ments shall be exhibited at any election for
Trustees.

Trustees vest
ed with discre
tionary power
as to modes of
paying debt.

Sec. 7. And be it enacted, That the Trustees of
said Seminary, may pursue such course as they
shall deem necessary or expedient, for raising
money by subscriptions or donations, to aid in the
reimbursement of said debt, and they shall also
apply to said debt at any time they may deem it
expedient, all or any of the surplus or nett earn-
ings of said Seminary, or any grants, bequests or
legacies, it may receive for general purposes.

Trustees to
keep property
insured ; also
in good repair

Sec. 8. And be it enacted, That it shall be the
duty of the Trustees of said Seminary, out of the
annual receipts of the School, to keep the Semi-
nary buildings and furniture insured against loss
by fire, to the amount now insured on the same,
and also to keep the same, and the grounds, in-
closures and other premises, during the time or
times hereinbefore provided for the reimburse-
ment of said debt, in good condition and repair.