Sec. 1. P&SL 1937, c. 28, §4, first sentence is amended to read:

The said corporation may adopt such by-laws, rules and regulations, not repugnant to the laws of the state of Maine, as it may deem determines expedient for the management of the affairs of the college and for the transaction of its business; it shall have power to establish in said college such courses of study, departments and schools as it may elect; it shall appoint officers, including a treasurer of the corporation, such other officers of business administration and such officers of educational administration as it shall deem determines proper, and all officers of instruction; and subject to the contractual rights of such appointees, it may remove them at pleasure; it shall have power to confer such academic degrees as are usually conferred by colleges or universities.

Sec. 2. P&SL 1937, c. 28, §§5, 6 and 7 are repealed and the following enacted in their place:

*Sec. 5.__President.__The president must be chosen by the concurring votes of at least 8 members of the board of fellows and of at least 13 members of the board of overseers, each board acting separately.__The president may be removed from office in the same manner, as long as reasonable notice has been given to the president in writing specifying the grounds of removal and that, if requested by the president, opportunity for hearing upon the specifications has been had before the 2 boards in convention.__ The president is the principal executive officer of the corporation and the principal academic officer of the college, and except as authority, duties and responsibilities are or may be specifically laid upon other persons, the president has general administration of the affairs of the college.__The president may, at the pleasure of the president, attend the separate sessions of the board of fellows and of the board of overseers.__When attending the sessions, the president shall participate with the members of these boards in the conduct of their business, having the right to vote; but these provisions may not apply when the business under consideration is the question of the removal of the president from office.

*Sec. 6.__Board of Fellows.__The board of fellows may not at any time consist of more than 15 members.__Six members, exclusive of the president, if the president is in attendance, except as otherwise in this Act specifically provided, constitutes a quorum for the transaction of business.__The board shall choose a chair and a vice-chair who shall preside at their meetings and who shall serve as the chair and vice-chair of the