412 STATUTES OF THE AMERICAN ACADEMY 



CHAPTER VII 



The Treasurer and the Treasury 



Article 1 . The Treasurer shall collect all money due or payable to 

 the Academy, and all gifts and bequests made to it. He shall pay all 

 bills due by the Academy, when approved by the proper officers, except 

 those of the Treasurer's office, which may be paid without such ap- 

 proval; in the name of the Academy he shall sign all leases of real 

 estate; and, with the written consent of a member of the Committee 

 on Finance, he shall make all transfers of stocks, bonds, and other 

 securities belonging to the Academy, all of which shall be in his official 

 custody. 



He shall keep a faithful account of all receipts and expenditures, 

 submit his accounts annually to the Auditing Committee, and render 

 them at the expiration of his term of office, or whenever required to 

 do so by the Academy or the Council. 



He shall keep separate accounts of the income of the Rumford Fund, 

 and of all other special Funds, and of the appropriation thereof, and 

 render them annually. 



His accounts shall always be open to the inspection of the Council. 



Article 2. He shall report annually to the Council at its March 

 meeting on the expected income of the various Funds and from all 

 other sources during the ensuing financial year. He shall also report 

 the names of all Fellows who may be then delinquent in the payment 

 of their Annual Dues. 



Article 3. He shall give such security for the trust reposed in him 

 as the Academy may require. 



Article 4. With the approval of a majority of the Committee on 

 Finance, he may appoint an Assistant Treasurer to perform his du- 

 ties, for whose acts, as such assistant, he shall be responsible; or, with 

 like approval and responsibility, he may employ any Trust Company 

 doing business in Boston as his agent for the same purpose, the com- 

 pensation of such Assistant Treasurer or agent to be fixed by the 

 Committee on Finance and paid from the funds of the Academy. 



Article 5. At the Annual Meeting he shall report in print- all his 

 official doings for the preceding year, stating the amount and condition 



