374

LAWS OF MARYLAND.

cerns of said corporation, and shall not be contrary to
law, and the same may change, alter, and amend as
shall appear proper and, may adopt, use, and at plea-
sure, change a common seal.

Object of in-
corporation.

SEC. 2. And be it enacted, That the object and de-
sign of this corporation shall be the establishment and
maintenance of a seminary of learning for the instruc-
tion of either males or females, or both, in the discre-
tion of the trustees, in such branches of education as
may by the trustees be deemed suitable and proper,
and for that purpose it shall be lawful for said corpo-
ration to purchase, lease, or otherwise acquire the ne-
cessary or proper land or building, to purchase or
procure the proper furniture, books and apparatus, to
employ suitable professors, teachers, agents and ser-
vants, confer degrees and generally do any act or
thing necessary or proper to carry into effect or pro-
mote the lawful design and object of this corporation
as in this act set forth.

Treasurer to
be elected.

SEC. 3. And be it enacted, That on the third Mon-
day of June, eighteen hundred and fifty six, there shall
be an election for twelve persons, who with the prin-
cipal of the school as president ex-officio, shall con-
stitute a board of trustees, six of whom shall be stock-
holders; immediately after they shall be assembled in
consequence of the first election, they shall be equally
divided into three classes each containing at least two
stockholders; the offices of the first class shall be va-
cated at the expiration of the first year, of the second
class at the expiration of the second year, and of the
third class at the expiration of the third year, so that
one third may thereafter be chosen every year on the
same day; if for any reason an election of trustees shall
not be held on the day appointed, an election shall be
held as soon thereafter as may be convenient on notice
to be given as required in the following section.

Notice of e-
lection to be
given.

SEC. 4. And be it enacted, That the stockholders
only who have fully paid up their stock, or such in-
stalments thereof as may have been required and called
for, shall have the right of suffrage in the election of
trustees; three weeks notice of the time and place of
holding such election shall be given by the trustees,
and a majority of votes cast at any election shall be
sufficient to elect any trustee, each share shall entitle a
stockholder to a vote for every such share.

Trustees to
choose their
own officers.

SEC. 5. And be it enacted, That in cases not oth-
erwise provided for, the trustees shall choose their
own officers and supply any vacancy in the board by