Chap. 38.—An ACT incorporating the trustees of Oak Hill Academy
in Grayson county.

Approved February 2, 1880.

1. Be it enacted by the general assembly, That W. C. Parks,
W. G. Young, L. N. Perkins, R. W. Young, William Holsey,
James Eller, William A. Carson, J. S. Sherwood and Green-
berry Holsey, be and they are hereby constituted a body politic
and corporate by the name and style of The Trustees of Oak
Hill Academy, in the county of Grayson, and by that name
shall have perpetual succession and a common seal, may sue
and be sued, plead and be impleaded, with power to purchase,
receive and hold to them and their successors forever any
lands, tenements, rents, goods and chattels of what kind so-
ever, which may be purchased by or be devised or given to
them for the use of said academy, and to lease, rent sell, or to
otherwise dispose of the same in such manner as shall seem
most conducive to the interest of said academy: provided,
that not less than a majority of the trustees for the time being
shall be sufficient to authorize the sale or mortgage of any real
estate belonging to the said academy: and provided that the
lands, goods and chattels authorized to be held by said acad-
emy shall not exceed twenty thousand dollars in value.

2. The said trustees and their successors shall have power
to appoint a president, tutors, treasurer and such other oflicers
as they may deem proper, to make and establish from time to
time such by-laws, rules and regulations not contrary to the
laws of this state or of the United States as they may deem
proper for the good government of said academy. A majority
of the trustees shall constitute a board for the transaction of
business, and any vacancy or vacancies amongst the trustees
occasioned by death, resignation or legal disability shall be
supplied by appomtment of the board.

3. The treasurer shall receive all money accruing and pro-
perty delivered to his care,*and shall pay or deliver the same
to the order of the board. Before he enters upon the discharge
of his duties he shall give bond with such security and in
such penalty as the board may direct, made payable to the
trustees for the time being and their successors, and condi-
tioned for the faithful performance of his duty under such
rules and regulations as may be adopted by the board.

4. The said trustees or any one of them shall have power to
take and receive subscriptions for the use of said academy;
and in case any person shall fail to comply with his or her sub-
scription, to enforce the payment thereof under the laws of
this state for enforcing the collection of debts.

5. And be it farther enacted, That the legislature reserves
the right to modify or repeal this charter.

6. This act shall be in force from its passage.