1849.

LAWS OF MARYLAND.

CHAP. 204.

ars of the said academy, in such sciences and branches
of education as they shall think proper and suitable to
be taught therein, and make ordinances and refutations
for the good government of the said academy and the
instruction of youth therein, and to appoint such num-
ber as they think proper, to be a quorum or committee
for transacting all general and necessary business of the
said academy, and also to delegate to the said professors
and teachers such powers and authorities as they shall
think expedient for the government and discipline of
the said academy, and the execution of the regulations
thereof, and also to make such regulation for the direct-
tion, visitation and examination of the said academy,
and student therein, as shall best promote the impor-

Proviso.

tant objects of the institution; provided always, that
the said ordinances be not repugnant to the constitution
and laws of this State.

Meetings—
When held, etc.

SEC. 6. And be it enacted, That the trustees and
their successors, or a majority of them, shall meet at
least twice in every year in stated semi-annual meetings,
to be appointed by their own ordinances, and at such
other times as by their said ordinances or by their own
adjournments, they may direct, and when so assembled
they shall have power to appoint from to time a presi-
dent, treasurer, and secretary, and keep regular minutes
of their acts, and shall also make contracts with the
professors and teachers relative to the instruction of the
scholars to be placed under their care, and for the pay-
ment of their salaries, and to examine the progress of
the students and scholars, to hear and determine on all
complaints and appeals, and upon all matters touching
the discipline and government of the said academy, and
the execution of their ordinances generally, to manage
the state and concerns of the academy in such manner
as they shall deem best for the advantage of the in-
stitution.

Capital stock.

SEC. 7. And be it enacted, That the capital stock
in said community, and shall be divided in shares of
ten dollars each, and the shares of said capital stock,
shall be assignable or transferrable by the holder; pro-

Proviso.

vided, they have been fully paid for, subject however to
the further rules and regulations of the said trustees.

Right reserved.

SEC. 8. And be it enacted, That the Legislature re-
serves to itself the right, to alter, change, or annul this
act at pleasure.