WILLIAM GRASON, ESQUIRE, GOVERNOR.

1839.

exceeding ten thousand dollars, and personal property,
and the same to alienate and convey, and to make and use
a common seal, and the same to alter and change at plea-

CHAP. 276.

sure, and to ordain and establish such constitution and by-
laws and regulations not contrary to law, and to change
the same as shall be necessary or convenient for conduct-
ing the affairs of the said corporation.

To make con-

stitution, &c.

SEC. 2. And be it enacted, That the objects of the said
corporation are hereby declared to be the elevation of the
profession of teaching, the diffusion of useful knowledge
on the subject of education, and the creation of a bene-
ficial fund to be accumulated, invested and disbursed, un-
der the direction of such officers, and according to such
rules and regulations, as the said corporation may appoint
and enact for that purpose.

Objects defined.

SEC. 3. And be it enacted, That the said corporation
shall have full power to carry out and accomplish the afore-
said objects, by such lawful means as may be necessary
and convenient therefor, and may provide for the accumu-
lation of the said fund, by establishing the terms upon
which persons shall become members thereof, fixing the
rate of contribution to said fund, and the penalty or fine
for the non-payment of the said contribution, and shall be
entitled to enforce the collection of said contributions and
fines or penalties as the payment of other debts is now law-
fully enforced in this State, and shall have the benefit of all
the legal remedies for the collection and recovery thereof.

Powers granted
to carry out
objects.

SEC. 4. And be it enacted, That all the properly, es-
tate, effects and revenue of the said corporation, shall be
bound for the contracts and engagements thereof, lawfully
made by the directors thereof, for the use or on account of

Liability.

the said corporation; and the service of any writ or civil
process by any officer duly authorised, upon any director or
officer of said corporation, shall be a good and sufficient
service upon the said corporation.

Service of pro-
cess.

SEC. 5. And be it enacted, That there shall be a meet-
week in the month next succeeding the passage of this
act, at which shall be elected by ballot, by the votes of the
persons whose names are hereinbefore recited, and their as-
sociates, a president and such other officers as may be ne-
cessary and expedient for carrying out the objects of this
corporation; and at the first meeting of the members of
the said corporation in each and every year thereafter,
there shall be held in the manner aforesaid, a new election

Meeting— elec-
tion of officers.