CHARTER. 
Sec. 3. The property and effects now belonging to the asso- 
ciation aforesaid shall, on acceptance of this charter, thereby be- 
come vested in the corporation herein created, and all property 
owned or held by this corporation shall be exempt from taxation 
so long as the same shall continue to be held and used in good 
faith for the objects and purposes aforesaid ; but whenever any 
real estate of the corporation shall be leased to any other person — 
or persons, the leasehold interest therein shall be taxable to the « 
Jessee or lessees thereof, as in other cases. 
Src. 4. The members of this association acquire no individual 
property in the real estate, cabinets, library, or other effects there- 
to belonging, which are hereby declared to be fully vested in the 
corporation as such; but the interest of the members therein shall — 
be usufructuary merely, and shall not be transferred, assigned, 
eR or otherwise = of, than as hereinbefore abe 
aa 6 Wheiiier this corporation: shall have failed t to — 
gaa for which it was created, or shall suffer its 
