THOMAS KING CARROLL,
ESQ. GOVERNOR.
1829.
in the same penalty, and with the like conditions,
as are required
of the several inspectors of tobacco in Anne Arundel county.
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CHAP. 172.
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Sec. 10. And be it enacted,
That it shall be the duty of the
President and Directors of said company, on the first Monday
of October in each and every year, to declare a dividend of
the profits, and to pay over the same to the stockholders, in
proportion to the amount of stock by them respectively held.
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Annual dividends.
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———
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CHAPTER 173.
An act to incorporate the Newmarket Academy, in Dorchester
County.
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Passed Feb. 26, 1830.
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Section 1. Be it enacted by
the General Assembly of Maryland,
That an Academy be, and is hereby erected in New
Market, Dorchester county, by the name of " The New Market
Academy." and the said Academy shall be regulated under
the management, direction, and government of six trustees,
and be perpetuated in the manner hereinafter mentioned.
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Academy constituted.
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Sec. 2. And be it enacted,
That Joseph K. Traverse, Henry
W. Hicks, Elijah Stevens, Thomas H. Handy, Levin Smith,
and Nathaniel E. Green, be, and they are hereby appointed
trustees of the said Academy, and the said trustees and their
successors to be elected in the manner hereinafter mentioned,
shall be, and they are hereby enacted, established and declared
to be one community, corporation and body politic, with
perpetual succession in deed and in law, to all intents and purposes
connected with the said institution, by the name and
style of " The New Market Academy," in Dorchester county;
by which name and title, they, the said trustees and their successors,
shall be competent and capable in law and equity, to
take and to hold to themselves and their successors for the use
of the said Academy, any estate in any messuages, lands and
tenements, annuities, goods, chattels, monies, or effects, by the
gift, grant, bargain, sale, conveyance, devise or bequest, of
any person or persons whatsoever, Provided, the same do not
exceed in the whole the clear yearly value of five thousand
dollars; and the same messuages, lands and tenements, and
other estate real and personal, to farm-let and put out on interest
for the use of the said Academy, in such manner as to
them, or a majority of them, shall seem most beneficial to the
institution, and to receive the rents, issues, profits, income and
interest of the same, and to apply the emoluments thereof to
the proper use and advancement of the said Academy.
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Corporate powers
granted.
Proviso.
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Sec. 3. And be it enacted,
That at all times forever hereafter
when any vacancy or vacancies shall happen in the said community
of trustees, by the death, resignation or refusal of any
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Perpetuated.
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