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Secretary and

treasurer, their duties.

Powers and du

successor or successors, at the expiration of his or their terms of office; also to appoint a secretary and treasurer. The secretary shall keep a correct and faithful record of the proceedings of the said corporation, and shall also receive all subscription and calls made by said board of directors, and pay over the same forthwith, or as soon as may be, to the treasurer, and take his receipt therefor: the treasurer shall receive all monies belonging to said corporation, and shall proceed forthwith to deposit the same with such person or persons, or place, as may be designated by the board of directors, subject to the order of the agent, or a majority of the directors, and his books and papers shall at all times be open for the inspection of members, and shall be produced to said directors when called for, and delivered over to his successor at the expiration of his term of office.

SECTION 7. The directors or a majority of them, ties of directors. shall have power to make and prescribe such by-laws, rules and regulations as to them shall appear needful and proper, touching the management and disposition of the property, estate and effects of said corporation; the duties and conduct of the officers, agents, clerks and servants, employed therein, and all other matters as appertain to the business of said corporation, and shall have power to appoint so many officers, agents, clerks and servants for carrying on said business, and with such salaries and allowances as to them shall seem meet; such by-laws, rules and ordinances, not to be inconsistent with the constitution and laws of the United States, or of this territory, or the powers and restrictions hereby granted and imposed.

Quorum, what.
Report made.

Dividends declared.

Instalments,

how paid.

SECTION 8. A majority of directors shall constitute a quorum to transact business; they shall annually report the situation of the affairs of the said corporation to the stockholders, and when the capital stock shall become productive, they shall declare and pay over dividends in such manner and at such times as the said directors may fix by their laws. They shall also, in case of loss by said corporation, declare the amount for which such member is liable, proportioned to the amount of stock owned by each; and after due notice having been given to each of the stockholders, any of the members shall refuse or object to pay over the sum for which they are justly liable, shall no longer be

stock.

a member, and his or her share or shares of stock, shall be forfeited, and any previous payment made thereon, Forfeitures of but may by a vote of a majority of members present at any subsequent meeting, be reinstated; and in such case, shall be entitled to his or her share or shares of stock, in the same manner as if said stock had not been forfeited, provided the same be done in one year after such forieiture having been declared.

SECTION 9. The property of every individual vest- Individual ed in the said corporate funds, shall be liable to be property, how taken in execution for the payment of his or her just debts, in such manner as is or may be prescribed by law: provided, that all debts due to said company shall be first paid and discharged, and that the said Wisconsin mineral and transportation company, shall have continual succession for the term of fifteen years.

how long..

SECTION 10. That in case it shall at any time hap- Succession, pen that an election of directors shall not be made on any day when pursuant to this act it ought to have been done, the said corporation shall not for that cause be deemed to be dissolved; but it shall and may be lawful on any other day to hold and make an election of directors, in such manner as shall have been regulated by the laws and ordinances of said corportion. P. H. ENGLE,

Speaker of the house of representatives.
HENRY S. BAIRD,

Approved Dec. 8, 1836.

President of the council.

H. DODGE.

No. 34.

AN ACT to repeal "an act to authorize the secretary of the te rritory to borrow money to defray the expenses of the first leg islative assembly of the territory of Wisconsin."

SECTION 1. Be it enacted by the council and house of Law authorizing representatives of the territory of Wisconsin, That the act loan repealed. entitled " an act to authorize the secretary of the territory to borrow money to defray the expenses of the

first session of the legislative assembly," approved on the fifteenth day of November, 1836, be and the same is hereby repealed.

P. H. ENGLE,

Speaker of the house of representatives.
HENRY S. BAIRD,

Approved Dec. 8, 1836.

President of the council.

H. DODGE.

Annual session

when.

No. 35.

AN ACT fixing the time for the annual meeting of the legislative assembly.

SECTION 1. Be it enacted by the council and house of of legislature, representatives of the territory of Wisconsin, That the legislative assembly shall commence its sessions annually on the first Monday of November in each year. SECTION 2. This act to be in force from and after its passage.

P. H. ENGLE,

Speaker of the house of representatives.
HENRY S. BAIRD,

Approved, Dec. 8, 1836.

President of the council.

H. DODGE.

Wisconsin university.

No. 36.

AN ACT to establish a university.

SECTION 1. Be it enacted by the council and house of reprsesentatives of the territory of Wisconsin, That there shall be stablished at Belmont, in the county of Iowa, a university for the purpose of educating youth, the style, name, and title whereof, shall be "the Wisconsin university;" and the said university shall be under

the management, direction and government, of twentyone trustees, of whom the governor of the territory for the time being shall always, by virtue of his office, be one; and the said governor and Ebenezer Brigham, Trustees. John B. Terry, Frederick Hollman, William S. Hamilton, William I. Madden, James R. Vineyard, John Atchison, Joseph B. Teas, Isaac Leffler, Peter Hill Engle, Thomas M'Knight, (of Dubuque,) Charles Dunn, James B. Dallam, Henry S. Baird, Albert G. Ellis, John W. Blackstone, Gilbert Knapp, William B. Sheldon and Arthur Inghram, and they, and all further trustees, shall continue in place during the Term of office. pleasure of the legislature, and all vacancies which

may occur shall, from time to time, be supplied by the vacancy. legislature.

and duties of

SECTION 2. The said trustees, and their successors, Title, powers shall forever hereafter be, and they are hereby estab- trustees. lished and declared to be a body politic and corporate, with perpetual succession, in deed and in law, to all intents and purposes whatsoever, by the name, style and title, of the "trustees of the Wisconsin university," by which name and title they and their successors shall be capable at law and in equity of suing and being sued, holding property, real, personal and mixed; of buying and selling, and otherwise lawfully dispo sing of property, and shall have power to make and use a common seal, and to alter the same at their pleasure. Eleven of the said trustees shall be a quorum for the purpose of disposing of the property and fixing of compensations; and any seven of said trus- Quorum, what. tees shall be a quorum for all purposes.

plied.

SECTION 3. It shall and may be lawful for the said Funds, what, trustees, from time to time, to apply such part of their Show ap estate and funds in such manner as they may think most conducive to the promotion of literature, and the advancement of useful knowledge within this territory: provided, always, that when grants shall be made to them for certain uses and purposes therein expressed and declared, the same shall not be applied, either in whole or in part, to any other uses, without the consent of the grantor.

ification and

SECTION 4. The said corporation shall appoint by A treasurer and ballot a treasurer and secretary, to continue in office secretary, qualduring the pleasure of the corporation. The treasurer duties. shall give bonds to the trustees, in such sum and with

Power and privileges of trustees.

Religious toleration.

Corporate prop

ed.

such sureties for the faithful performance of the duties of his office, as the said corporation may direct, and shall keep fair and true accounts of all moneys by him received and paid out. The secretary shall keep a fair journal of the meetings and proceedings of the corporation, in which the yeas and nays on all questions shall be entered, if required by two-thirds of the trustees present; and to all the books and papers of the corporation every trustee shall always have access, and shal. be permitted to take copies of them.

SECTION 5. The said trustees may, from time to time, establish such colleges, academies and schools, depending upon the said university, as they may think proper, and as the funds of the corporation will permit; and it shall be the duty of the said trustees to visit and inspect said colleges, academies and schools; to examine into the state and system of education and discipline therein, and to make a yearly report thereof to the legislature; to make such by-laws and ordinances not inconsistent with the laws of the United States or of this territory, as they may judge most expedient for the government of such schools, academies and colleges, or for the accomplishment of the trust hereby reposed in such trustees; to appoint a president, professors, instructors, and other officers; to fix their compensation, and to remove them when such trustees think proper, and also to confer such degrees as are usually conferred by universities established for the education of youth. It shall be lawful for the said trustees to elect a president of the university at any time, and without waiting until the state of the funds will allow the establishment of a college, and the president shall always be ex officio a member of the corporation.

SECTION 6. Persons of every religious denomination shall be capable of being elected trustees; nor shall any person as president, professor, instructor or pupil, be refused admittance for his conscientious persuasion in matters of religion, provided he shall demean himself in a proper manner, and conform to such rules as may be established.

SECTION 7. This law may be repealed or modified erty, how vest by the legislative power of this territory, provided that such power of repeal shall never extend to direct to any other purposes than those expressed therein, if

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