1641.

LAWS OF MARYLAND.

CHAP. 150.

land, or the provision of this act, as shall or may be neces-
sary or proper for conducting the affairs and effecting the
objects of the said corporation.

General pow-
ers.

Sec. 2. And be it enacted, That the objects of the said
corporation are declared to be the encouragement and pro-
motion of literature and the arts and sciences, by providing
a library, reading room, philosophical, chemical and astro-
nomical apparatus, together with such buildings and other
conveniences, as shall or may be necessary, fully and com-
pletely to effect and accomplish the objects of the said cor-
poration.

May pur-
chase and
hold property

Proviso.

Sec. 3. And be it enacted, That the said corporation
shall be able and capable in law, to purchase and hold by
deed, bequest and devise, any interest, estate or property,
real, personal, or mixed, absolute or contingent, in posses-
sion or expectancy; provided, that the clear annual income
of such estate, interest, and property, shall not exceed the
sum of ten thousand dollars.

May sell and
dispose of
property.

Sec. 4. And be it enacted, That the said corporation shall
have full authority and power to use, sell, mortgage, lease,
assign, transfer, convey, or otherwise dispose of, all or any
part of the estate, interest and property of any kind or na-
ture whatsoever, in any lands, tenements, goods or chattels,
which may belong to, or come into the possession of the
said corporation, in any mode or manner as may be deemed

Proviso

most advisable by the said corporation; provided, the same
be done in good faith, and consistent with the laws of the
land and the provisions of this act.

Service of
process.

Sec. 5. And be it enacted, That all or any part of the
estate, interest and property in any lands, tenements, goods,
and chattels, belonging to or that may come into the pos-
session of the said corporation, and that the service of any
legal process by any legal authorized officer, upon any of
the officers of the said corporation, shall be deemed a legal
and valid service upon the said corporation.

Election of
officers.

Sec. 6. And be it enacted, That the said corporation
shall at its first meeting in the months of July and January,
respectively in every year proceed to elect by ballot, a pre-
sident, vice president, secretary, treasurer, librarian, cura-
tors, or any other officer or officers, as the said corporation
may think proper to elect and appoint.

Banking for-
bid.

Sec. 7. And be it enacted, That nothing in this act be
construed so as to authorize the said corporation to issue
any note, token, device, scrip, or other evidence of debt,
to be used as currency.

In force.

Sec. 8. And be it enacted, That this act of incorpora-
tion shall inure for thirty years from its passage, and that