PHILIP F. THOMAS, ESQUIRE, GOVERNOR

1847.

son, Archibald Gary and their associates, successors
and assigns be and they are hereby created a body
corporate, by the name of the Belvidere Hall Associa-
tion, and by that name shall have perpetual succession
and shall he able and capable in law to sue and be
sued, plead and be impleaded, answer and be answer-
ed in any court of law or equity, to make and use a
common seal and the same to alter and change at plea-
sure, to make and establish such bye-laws and regula-
tions not contrary to law, as shall be necessary am
convenient for conducting the affairs of said corpora-
tion.

CHAP. 126.

Corporate
powers.

SEC. 2. And be it enacted, That the capital stock of
said corporation shall consist of six hundred shares of
ten dollars each, and said corporation shall be able and
capable in law, in addition to the said building, to pur-
chase, receive and hold real estate in fee simple or
other lesser interest therein, and also personal property ;
provided, the clear annual income of all such estate and
property shall not exceed five thousand dollars.

Capital stock

Proviso.

SEC. 3. And be it enacted, That all the estate, pro-
perty and joint stock shall be bound and answerable for
the contracts and engagements made and liabilities in-
curred by said company, and the said company shall
have full power and authority under the corporate seal,
to use, negotiate, bargain, sell, transfer or otherwise to
dispose of all their joint stock, estate, properly and in-
come, as the said company may think best; provided,
the same be done in conformity with the laws of this
State.

Effects re-
sponsible for
debts.

Proviso.

SEC. 4. And be it enacted, That there shall be a
meeting; of the stockholders of said company on the
first Monday of April, in each and every year, the first
meeting to be held on the first Monday of April, eigh-
teen hundred and forty-eight, for the purpose of elec-
ting a president and three directors to manage the af-
fairs of said company, and such other officers as said
stockholders shall by their bye-laws determine to be
necessary, and that the, said officers when so elected
shall hold their said offices until others are elected in
their stead, all of whom shall be elected by ballot, and
each share of stock shall be entitled to one vole, and each
stockholder shall vote in person or by proxy, and any
general meeting of the stockholders called pursuant to
the bye-laws of said company, at which a majority of
the, stock is represented in person or by proxy, shall be
competent to pass or alter any bye-law or regulation,
and the same shall be binding on said company.

Annual meet-
ing, when to
be called.