LAWS OF MARYLAND.

1842

SEC. 4. And be it enacted, That the corporation shall meet
at least once in each and every month for the transaction of
business and such literary exercises of the institute as may
be provided for in the bye-laws and regulations thereof,
which exercises shall consist of lectures, and such other
literary, religious and scientific exercises as shall be deem-
ed beneficial for the promotion of literature and the diffu-
sion of useful knowledge.

CHAP. 2.

Meet monthly
for transaction
of business.

SEC. 5. And be it enacted, That the board of Curators
shall have power to employ, compensate and dismiss at their
pleasure, all agents and subordinate officers, deemed by
them necessary; to make contracts and to use therefor the
name and seal of the corporation; to make regulations for
the transaction of their business; to call special meetings of
the institute, and generally to exercise all the powers and
privileges conferred upon or appertaining to this corpora-
tion.

Curates to
employ and
dismiss offi-
cers.

SEC. 6. And be it enacted, That said corporation shall
be able and capable in law to purchase, take, have and en-
joy to them and their successors, property both personal
and real, and the same to dispose of, in such manner as may
be deemed most conducive to the interest and prosperity of

Hold property.

the institute; provided nevertheless, that the said corporation
shall not at any lime possess property, real, personal or
mixed, exceeding in total value the sum of twenty thousand
dollars.

Proviso.

SEC. 7. And be it enacted, That all the property, real
and personal and mixed of the corporation, shall be bound
and answerable for the contracts and engagements made,
and liabilities incurred by the board of Curators thereof,
or through their agency or by their authority; and the ser-
vice of any legal process, by any officer authorised by law
to serve the same, upon the President,, or any of the Cura-
tors, shall be deemed a good and sufficient service upon the
corporation.

Property re-
sponsible for
debts.

SEC. 8. And be if enacted, That the said corporation
shall have full power and authority to use, negotiate, bar-
ter, exchange, transfer, or otherwise dispose of, and em-
ploy all the estate, property and revenue of the corpora-
tion, to promote the objects thereof in any way and manner
they may deem most advisable; provided, the same be done
agreeably to the laws of the land, and the provisions of this
act.

Corporate
powers.

Proviso.

SEC. 9. And be it enacted, That if at any time it may
be thought necessary to dissolve this society, a proposition
to that effect shall he made in writing at a regular meeting
of the institute, and laid upon the table till the third re-
gular meeting thereafter, when it may be discussed, provi-

Proposition to
dissolve to be
made in wri-
ting, &c.

Proviso.