T. HOLLIDAY HICKS, ESQ., GOVERNOR.

1860.

not exceeding ten thousand dollars, in shares of
twenty-five dollars each; and as soon as twenty
shares of said stock shall have been subscribed, the
said subscribers shall elect a board of five trustees
to manage the affairs of said company, who shall
proceed to purchase or have erected a suitable
building for the purpose of said academy, and to
employ such teachers or professors for instructing
the students therein as they may deem necessary;

CHAP. 148.

Trustees to
manage af-
fairs of the
company.

and they shall make all such by-laws, rules and
regulations for the good government of said aca-
demy and the instruction of the students therein,
and for the direction, visitation and examination
of said students, as shall in their judgment pro-
mote the objects of said institution.

By-laws, &c.

SEC. 3. And be it enacted, That the stock of said
corporation shall be deemed personal estate, and
at all meetings' of the stockholders, each stock-
holder shall be entitled to one vote for every share
of stock held by him, and said stock may be sold
and transferred by any stockholder under such
rules and regulations, and in such manner as the
by-laws of said corporation shall prescribe; and
which by-laws shall also fix the time and place of
holding future meetings for the election of trustees.

Meetings.

SEC. 4. And be it enacted, That this act shall
take effect from and after its passage.

CHAPTER 148.

In force.

AN ACT to sell and convey a house and lot in
Primary School District number thirty-seven, in
Frederick county.

Passed Feb.
24, 1860.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That William Rouzet, John A. Roddy
and Elias Stouffer, trustees of primary school dis-
trict number thirty-seven, in Frederick county, or
their successors, are hereby fully authorised and
empowered to sell and convey the primary school
house and lot in said district, number thirty-seven,
in fee simple, and pay the proceeds of the sale

Authorised
to sell school
house.