1838.

LAWS OF MARYLAND.

CHAP. 334.

dents, a Secretary, a Treasurer and an Executive
Committee of nine, all of whom shall be elected by
ballot on the second Thursday of August next, and

Annual election.

annually thereafter; a majority of the members present
at such election being necessary to a choice; the asso-

ciation shall also have power to appoint such other
officers as they may deem necessary and expedient,
and in such manner as they may think proper.

Present officers.

Sec. 7. And be it enacted, That until there shall be,
under this act, an election of officers necessary for the
uses of the institution, those now acting, or who may
hereafter be appointed to act under any existing regu-
lations of the association, shall continue so to do, ac-
cording to the. provisions of the association heretofore
made; and such regulation, until lawfully altered, shall
be deemed as valid and obligatory as if made after the
passage of this act.

Liabilities.

Sec. 8 And be it enacted, That no member of this
association, shall in his individual capacity be answer-
able for any losses, deficiencies or failures of the joint
funds, or debt of the corporation, nor for any more or
larger sum or sums of money whatever, than the cur-
rent amount by him payable into the common fund, op

Banking forbid.

stock of the corporation; provided, that the said Elk-
ton Lyceum shall in no wise assume banking powers,
or issue any note or check in the nature of a bank
note.

Rights reserved.

Sec. 9. And be it enacted, That this act shall, at all
times, be liable to be amended or repealed at the plea-
sure of the Legislature.

CHAPTER 334.

Passed April 3,
1839.

An act for the benefit of the University of Maryland.

Act of 1825, repeal-

ed.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the act entitled an act supplementary
to the act, entitled an act for founding an University
in the city or precincts of Baltimore, by the name of
the University of Maryland, passed at December ses-
sion, eighteen hundred and twenty-five, be and the same
is hereby repealed.