RULE IV. Until such person shall have paid to the Treasurers such sum of Fifteen Pounds, he or she shall not be held to be a Proprietor. RULE. V. Each Proprietor shall subscribe his or her Name to the Declaration hereinafter mentioned, (See p. 19;) and until such Declaration shall be signed, no person whatever shall be held to be a Proprietor, nor be entitled to any privilege, right, or interest whatever, in this Institution. RULE VI. Each Proprietor shall be answerable for his or her quarterly, and all other payments, whether he or she have a Nominee in the School or not. RULE VII. If any Proprietor shall neglect to pay to the Treasurers the amount of his or her Subscription, and other monies which may be due by such Proprietor, for 28 days after the same shall have become due, he or she shall forfeit the sum of 10_s_; and if, after notice being given by the Secretary of such penalty having been incurred, such Proprietor do not pay the amount of his or her Subscription, together with the penalty, within the period of 28 days, then such Proprietor’s Share or Shares shall be forfeited; and such Proprietor, his or her Heirs, Executors, Administrators, and Assigns, shall have no right, interest, property, or privilege, in the Institution, or in any part thereof; provided, nevertheless, that such Proprietor may appeal to a Special General Meeting, by giving notice of such his or her intention to the Secretary, on or before the day when his or her next Subscription would have become due; and at such General Meeting it shall be determined whether any, and what relief shall be given. RULE VIII. Every Proprietor shall have the privilege of nominating to the School one Pupil, in respect of each Share he or she may hold: such Pupil, if the son, grand-son, step-son, brother, or nephew, of the nominating Proprietor, shall be admitted without ballot; but if not so related to the nominating Proprietor, he shall not be admitted without the previous consent of the Committee of Proprietors; such consent to be ascertained by ballot, (Sect. II. Rule IV.) and such ballot not to be made, unless the Nominator do give fourteen days previous notice thereof to the Secretary; which notice shall contain the name of the Nominee, and the names, rank, station in life, and residence of his Parents or Guardians. RULE IX. The Proprietors shall be at liberty to transfer or bequeath their several Shares: but in every case of a transfer, the Purchaser or Grantee shall be first approved of by ballot, at a General Meeting of the Committee. Every Purchaser or Grantee having been so approved of, shall be entitled to all the advantages of an original Proprietor. RULE X. Any person having a Proprietor’s Share bequeathed to him, or inheriting such Share, or taking it under Letters of Administration, may nominate a Pupil in respect to such Share; such Pupil to be admitted by ballot only.