Sec.[Section] 1. Be it enacted by the people of the state of Illinois represented in the General Assembly, That the persons hereafter elected pursuant to the provision of this act and their successors, be and they are hereby created a body politic and corporate, to be styled the “President and Trustees of the Warren County Male and Female Seminary;” And by that name to remain in perpetual succession, with power to sue and be sued, plead and be impleaded, to acquire, hold[,] and convey property, real and personal; to have and use, a common seal, and the same to break[,] alter[,] and renew at pleasure, to make and alter from time to time such by–laws as they may deem necessary for the government and regulation of said institution, its officers[,] servants[,] and property: provided such by–laws are not inconsistent with the constitution & laws of this ^state^ or of the United States

Sec 2. The Trustees of said institution shall consist of not less than three nor more than seven persons, who together with the President shall be elected by the stock Holders annually on the first Monday of April in each year and shall hold their offices until their successors are duly elected and qualified. The first election for President & trustees, shall be held in the town of Monmouth & forever [thereafter] at such place or places, as the [President] & Trustees may direct

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all elections shall be by ballot, and [may?] be made personally or by proxy conducted in such manner, as may be directed by the by-laws of said institution

Sec 3 The director of said institution, shall have power to fill all vacancies, which may occur from time to time in their body by death[,] resignation[,] or otherwise

Sec 4. The said President & Trustees, shall hold the property of said institution solely for the purposes and advantage of said institution and of education and the promotion of literature and science in the saidseminary , and no particular religious faith shall even be required, of those who may become presidents and Trustees[,] students, pupils, teachers, officers[,] or servants of said institution

Sec 5. Said institution shall be permanently located within the Township^ in the County of Warren^ in which the town of Monmouth is situated in this State; and the said president and Trustees shall be competent in law to make to themselves and successors in office in their said Corporate name and capacity, any estate real[,] personal[,] and mixed, by the gift, grant, bargain[,] and sale; Conveyance[,] will, devise or bequest of any person or persons, body ^corporate^ politic Whatsoever: and the same estates real estate or personal to grant[,] bargain[,] and sell, convey, devise[,] let out on interest, or otherwise dispose of for the sole and separate use and benefit of said

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institution, in such manner as seems to them most beneficial for the interest of the said institution. The said president and Trustees; shall faithfully apply all funds by them received, or that have already been received, according to the best of their judgement in erecting and completing a ^suitable^ building or buildings, supporting the necessary officers[,] instructors[,] or Servants and in procuring books, maps, Charts, Globes, philosophical and other apparatus, necessary to the success of said Academy ^Seminary^: Provided, nevertheless, That in case any donation[,] devise, bequest[,] or otherwise shall be made to the said institution for a particular purpose or purposes, not in compatible with the design of said institution, and the corporation shall accept the same, every such donation[,] devise[,] or bequest, shall be applied in conformity with the express provisions conditions prescribed by the donor or devisor

Sec 6. The Trustees shall annually, and as soon as convenient after their election, elect a Treasurer and secretary of the board of trustees president and Trustees of said in corporation, who shall each be stockholders therein, and who when elected and qualified shall continue in office till their successors are duly elected and qualified. All processes against said corporation, shall be by summons and the server of the same shall

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be by leaving an attested copy ^thereof^ with the president, or at his usual place of residence at least twenty days before the return thereof. The President and trustees as well as the Treasurer, shall before entering upon the duties of the office take an oath or affirmation to fulfill the duties of their offices respectively

Sec 7. The said president and trustees shall have power to employ and appoint a principal of said institution, and all such instructors and instructresses, and also such servants as may be necessary and shall have power to displace any or either of them as ^they^ may deem to the interest of said institution and the cause of education therein to require; and to fill vacancies that may happen by death or otherwise among said officers or servants. The lands within the jurisdiction of this state held in perpetuity by the said corporation shall not exceed Three thousand acres at any one time, and if donations in lands be received, at any time by said corporation, the same may be held in trust by the said president & trustees, and shall be sold within five years ^from the date^ of such donation for the benefit of said institution, and, in failure thereof the lands so given shall revert to the donor or grantor of the same or their heirs

Sec 8. The president and Trustees shall not serve annually or after if they shall deem proper

Sec 8 The president and trustees, shall meet semi annually or oftener if they shall deem proper at the seminary, after the same shall be created, and it shall be the duty of the secretary to attend all meetings of the board, and Keep and preserve a fair and correct record of their proceedings. A majority of the Trustees board, shall constitute a quorum, for the transaction of all business relative to said institution

Sec 9. That on the payment of twenty dollars to the treasurer of said institution, every such person, shall be considered and hereby declared to be a stockholder, and shall be entitled to one vote for every share of said co^r^poration, in all elections; and it shall be lawful for each and every stockholder for the time being, of the said institution his or her executors and administrators or assigns, to give, sell, devise[,] and dispose of their respective shares in the said seminary and their respective assignees shall be stockholders of saidinstitution , and shall be entitled to all the rights and privileges in said institution, as the original stockholders are entitled to by this act

Sec 10. That Francis Smith[,] Theodore Coburn[,] James McCallon, Daniel McNiel Jr[,] Benjamin C Herd, Jacob Rust[,] Alexander Turnbull[,] James P Hogue[,] and Gilbert Turnbull of the County of Warren, be and they are hereby appointed Commissioners

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to solicit and receive subscriptions of stock to said institution, and give receipts for the first instalment to be account paid on subscriptions of stock to said seminary and give receipt for the same to be paid on subscription, and when the sum of five hundred dollars, shall be subscribed for, the said commissioners or any three of them; are hereby authorized to give public notice, by posting up notices in four public places in the county for the time and place of holding an election for president and trustees of said institution, and that said election be held in the town of Monmouth, or such place as the commissioners may direct, and that said commissioners or any three of them are hereby appointed judges of the first election, and are hereby authorized and empowered to hold the same. The first election to be held on such day as the said commissioners may direct, but afterwards, the annual election shall be held on the first Monday in april annually as directed in the second Monday or at section of this act at the seminary as soon as erected That each stockholder shall be required to pay to the Commissioners five dollars on each share by him subscribed at the time of subscribing, and the residue at such time or times as the President and trustees shall direct provided that

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any stockholder neglecting or refusing to pay the balance due on any share or shares shall forfeit to saidinstitution all money previously paid on such share or shares so neglected

Sec 11 all sales of real or personal property or evidence of in debtedness, by said incorporation, must be signed and attested, by the president and attested by the clerk Secretary and when thus signed and attested, they shall be binding on said incorporation according to the true intent and meaning of the same and not before

Sec 12 That after the first election for president and trustees, the president and trustees shall act as judges of election, or any three of them shall and may act as the board of election

Sec 13. That the seminary, When erected and in operation shall at all times be open for the use and privilege of any free white person, within the United States who may wish, to be instructed, in said seminary: provided; said free white person will comply with the laws of said institution; and pay the sums fixed by the president and trustees for the instruction of the students or pupils attending at the same

Sec 14 That in case it should so happen that an election for president and trustees should not take place on the day on which it should take place according to law, the said corporation shall not for that cause be deemed dissolved, but that it shall be lawful, on any other day to hold an election in the place of the one omitted to be held in such manner as may be prescribed by the by-laws of said incorporation

Sec 15. The president and trustees shall make an annual dividend of all profits which may arise by said incorporation but all profits and dividends declared or arising from said incorporation in any manner whatever, shall be applied to the purchase of books or improving and repairing the buildings of said institution, or whatsoever else for the benefit or interest of said corporation