Page:United States Statutes at Large Volume 13.djvu/85

 THIRTY-EIGHTH CONGRESS. Sess. I. Ch. 67, 68. 1864. 57 after declared by the masonic bodies they represent, who shall hold their office for one year and until others are duly elected and qualified to take their places as directors; and the said directors shall elect one of their number to be president of the board, who shall also be president of the Pi·esideut,sec~ corporation, and shall elect a secretary from among their own number, or ;‘;;‘;‘iY•““d m°’”‘8' from the corporators aforesaid, who shall also be secretary of the corporation, and they shall also choose a treasurer, who shall give bonds with surety to said corporation, in such sum as the said directors may require, for the faithful discharge of his trust. A majority of the directors shall form a quorum for the transaction of business, and in case of a vacancy in Quorum. the board of directors by the death, resignation, or otherwise, of any director, the vacancy occasioned therebyshall be filled by the remaining V¤<=¤¤¢i¢¤· directors from among the corporators named in the first section of this act, or their successors duly elected or appointed in the manner hereinafter declared by the masonic bodies they represent. Sec. 6. And be it further enacted, That the directors shall have full power to make and prescribe such by-laws, rules, and regulations as they B.Y·1¤W¤· shall deem needful and proper for the disposition and management of the stock, property, estate, and effects of the corporation, not contrary to the charter or to the laws of the United States and the ordinances of Washington city, and shall have power to alter or amend the same as the interests of the corporation, in their opinion, may require. And the said directors shall have power to regulate the payment of interest upon the Interest dm. certificates of stock held by the stockholders, or to the dividends that may d611d5i gwaccrue, and shall have power to provide for the redemption of the stock held by individuals, upon fair and equitable terms. Sec. 7. And be it further enacted, That each masonic body or organiza- Coooomioo to tion, named in the first section of this act, shall be entitled, during the consistofone cormonth of November, eighteen hundred and sixty-four, and annually there- §g:$Y;`£`gSHgmc after, to meet and select, by ballot, one of its members as a successor to bodges, the person then, or last, representing it as member of this corporation, _ whose annual term expires next thereafter, or which may have expired next before that time, so that said corporation shall forever consist of one corporator from each of the said masonic bodies, named in the first section of this act: Provided, however, That should any of the said several P¤0Vi¤<>· masonic bodies, named in the first section of this act, surrender or forfeit its masonic charter or warrant, or from any cause cease to be recognized by the order of free and accepted masons, it shall not thereafter be entitled. to any representation in said corporation, nor shall the continued corporate existence and rights of this association be in anywise affected thereby, so long as there remain ive corporators qualified to act as such. Sec. 8. And be it further enacted, That oany masonic lodge, chapter, New masonic council, commandery, or consistory now inexistence or that may here- l;3‘:;§·h°" ad' after be instituted in the District of Columbia, may, by and with the con- ` sent of two thirds of the corporators named in the first section, or their successors, be admitted to a representation in said corporation upon an equal footing with the several masonic bodies named in the first section of this act. Sec. 9. And be it further enacted, That this act may be altered, amen- Act maybe ded, or repealed, at the pleasure of the congress of the United States of am‘§“g€g; "* America. pea 6 ’ c' Approved, April 26, 1864. CHAP. LXVIII.—An Act to authorize the Issuzng of a Register to the Steam Vessel AP6] 2*% 1864- " John Martin." U";" . Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Secretary of the Treast