share, which he, she, or they may hold in said company; and said votes may be given by proxy, or in propria per sona.
Art. 3d. It shall be the duty of said managers, when chosen, to elect from their number, a Treasurer and Secre tary. It shall be the further duty [of] said managers to meet in the upper room of the office of said company, on the first Mondays of November and May of each year, at nine 0’clock. A. M. to inspect the books of said compa ny and transact such other business as may be deemed necessary.
Art 4th. It shall be the duty of said managers to choose from among their number, seven men, who shall meet in the upper room of said office, on Tuesday of each week, at 4 0’clock, P.M. to inquire into and assist in all matters pertaining to said company.
Art. 5th. Each manager shall re ceive from the company one dollar per day for his services when called to gether at the annual and semi-annual meetings. The Treasurer and Secre tary, and the seven, the committee of the managers, shall receive a compen sation for their services as shall be agreed by the managers at their semi- annual meetings.
Art. 6th. The first election of man agers, as set forth in the second arti cle, shall take place at the meeting of the members to adopt this agreement, who shall hold their office until the first Monday of November, 1837, un less removed by death or misdemeanor, and until others are duly elected. Ev ery annual election of managers shall take place on the first Monday of No vember, of each year. It shall be the duty of the Treasurer and Secretary of said company, to receive the votes of the members by ballot, and declare the election.
Art. 7th. The books of the compa ny shall be always open for the in spection of the members.
Art. 8th. It shall be the duty of the managers of the company, to de clare a dividend once in six months; which dividend shall be apportioned among the members, according to the installments by them paid in.
Art. 9. All persons subscribing stock in said firm, shall pay their first in stallment at the time of subscribing; and other installments from time to time, as shall be required by the man agers.
Art. 10. The managers shall give thirty days notice in some public paper, printed in this county, previous to an installment being paid in. All subscri bers residing out of the , shall be required to pay in half the amount of their subscriptions at the time of sub scribing, and the remainder, or such part thereof, as shall be required at any time by the managers, after thirty days notice.
Art. 11th. The Treasurer shall be empowered to call special meetings of the managers, whenever he shall deem it necessary; seperate and aside from the annual and semi-annual meetings.
Art. 12th. Two thirds of the mana gers shall form a quorum to act at the semi-annual meetings, and any number of the seven, the committee of the man agers, with the Treasurer and Secreta ry, or either of them, may form a quo rum to transact business at the weekly meetings; and in case none of the sev en are present at the weekly meetings, the Treasurer and Secretary must trans act the business.
Art. 13th. The managers shall have power to enact such by-laws as they may deem necessary, from time to time, providing they do not infringe upon these Articles of Agreement.
Art. 14th. All notes given by said society, shall be signed by the Treas urer and Secretary thereof, and we the individual members of said firm, here by hold ourselves bound for the redemp tion of all such notes.
Art. 15. The notes given for the benefit of said society, shall be given to the Treasurer, in the following form:
“Ninety days after date, we jointly and severally promise to pay A. B. or order [blank] dollars and [blank] cents, value received.”
A record of which shall be made in the books at the time, of the amount, and by whom given, and when due— and deposited with the files and papers of said society.
Art. 16. Any article in this agree ment may be altered at any time, an nulled, added unto or expunged, by the vote of two-thirds of the members of said society; except the fourteenth ar ticle, that shall remain unaltered dur ing the existence of said company. For the true and faithful fulfillment of the above covenant and agreement, we in [p. 442]