ACT OK INCUKFORATION. ol 



Sj:( rioN ',i. riif jirojx-rtv mid ettta-ts now hclongiuH- to the a.ssocia- 

 tion afoivsiiid shall, on acccjjtancc of this charter, thtTcbv bccoint' 

 vested in the coriioration herein created, ami all property owned oi" 

 held by this corporation shall he t'xenipt from taxation, so lon;^ as the 

 same shall continue to be held and used in gocxl faith for the (jbjects 

 and pm-poses aforesaid: bnt whenever any real estate of the corjiora- 

 tinn shall be leased to any other jjerson or pe]-sons, the leasehold inter- 

 est therein shall Ix' taxable to the lessee or lessees thereof, as in other 

 cases. 



Section 4. The members of this association shall acquire no indi- 

 vidual property in the real estate, cabinet, library or other effects 

 thereto belonging, which ai-e hereby declared to be f.illy vested in the 

 cor])<)rati()n as such, but the interest of the members therein shall l)e 

 usufructuary merely, and shall not lie transferred, assigned, hypotheca- 

 teil. ()]• otlierwise disposed of. than as hereinbefore j)rovided. 



Sectiox 5. This act shall not be opei-ative imtil all persons w ho 

 have heretofore formed the Oi-leans C'oimty Society of Xatural Sciences 

 shall have assented thereto in writing, and the instrument of assent 

 shall be recorded in the records of the corporation. 



SECTfdX 6. This act shall be taken to be a public act, shall be siil)- 

 .ject to the control of future legislation, and shall take effect from its 

 passage. 



.-kpjtroved, XovemlxT 10. IKmi. 



