2018 -- S 2643

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LC004948

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2018

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A N   A C T

IN AMENDMENT AND CONSOLIDATION OF THE CHARTER OF THE GREATER

PROVIDENCE YOUNG MEN'S CHRISTIAN ASSOCIATION

     

     Introduced By: Senator Harold M. Metts

     Date Introduced: March 20, 2018

     Referred To: Senate Commerce

     It is enacted by the General Assembly as follows:

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     An Act entitled "An Act to Incorporate the Providence, Young Men's Christian

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Association" passed at the January Session, 1854, as amended by the several acts in amendment

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and in addition thereto, is hereby further amended, restated and consolidated to read as follows:

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     Section 1. Amos C. Barstow, John B. Hartwell, Allen Brown, Charles A. Webster,

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Zuinglius Grover, Henry H. Clemons, Daniel Goodwin, Nathan B. Hall, William Coggeshall,

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James Royce, John F. Jolls, John D. Hanley, Jr., Jeremiah Heath, Henry C. Merchant, Josiah L.

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Webster, Levi J. Lewis, Samuel G. Curry, Abner Gay, Jr., and A. D. Bradley, their associates and

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such others as hereafter may be admitted members of this corporation, are hereby constituted and

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created a body corporate and politic for the purpose of the improvement of the spiritual, mental

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and physical condition of young men and boys, by the name of 'Greater Providence Young Men's

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Christian Association' and by that name shall have perpetual succession, and are made able and

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capable in law, to take, hold, transmit and convey real and personal estate, which shall be exempt

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from taxation so long as said real and personal estate shall be devoted to the purpose of said

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Greater Providence Young Men's Christian Association (except for real estate located in the

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Town of South Kingstown identified as Assessor's Plat 76-1, lot 6 in 2005 which such property

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shall remain subject to taxation); to sue and be sued, plead and be pleaded; defend and be

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defended against, in all courts of law and equity, and before all tribunals whatever; to make, have

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and use a common seal, and the same to break, alter or renew; and also shall have power and

 

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hereby are authorized to hold such meetings, and to make, ordain and establish such by-laws and

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regulation, not contrary to law, as they may think proper, for the government of said corporation,

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and the management of the affairs and interests and the transaction of the business thereof, and

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the same to alter, amend or repeal; and generally to do and execute all acts, matters and things

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which corporations not organized for business purposes may do or which may be necessary in

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order to carry into effect the powers and privileges herein granted. In addition to the powers

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granted to it by its Charter, this Corporation shall have the power and authority in conducting an

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educational institute with courses on the post-secondary college level to grant to students

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graduating from such courses of study in the field of accounting the degree of associate of

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accounting, to students graduating from such courses of study in the field of engineering the

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degree of associate of engineering, and to students graduating from such courses of study in the

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field of management the degree of associate of management, in recognition of the attainment of

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achievement of such students in their respective course or courses of study.

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     Section 2. A Board of Directors of such number as the By-laws of the Association may

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provide shall be elected in such manner and upon such tenure of office as the By-laws of the

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Association may provide; and the President of the Association, for the time being, shall be ex-

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officio and additional board member. The Board of Directors shall (a) have the management and

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control of any real estate of the Association held for investment purposes, and all real estate used

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in the operation of the Association and its program shall be under the management and control of

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the Board of Directors; (b) have the management and control of personality held by the

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Association for investment purposes. All funds and real estate not held for investment purposes

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shall also be under the management and control of the Board of Directors.

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     The Chief Financial Officer shall, subject to a vote of the Board of Directors or its

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Executive Committee, have the power to transfer any stock, securities, or other property under the

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control of said Board of Directors. As to property under its management and control, the Board of

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Directors shall have power, in the name of the Association, to invest without restriction as to type

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and to sell, assign, and transfer such property in its discretion. The Board of Directors may

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delegate its investment authority to an Investment Committee appointed by it. The said Board of

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Directors shall also have power, in the name of the Association, to sell, lease, transfer, mortgage,

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or pledge any real or personal property under their charge or management as aforesaid whenever

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the interests of the Association, in their best judgment, require same, provided, however, that said

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Directors shall not have power to sell or mortgage any real estate without a majority vote of the

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members of the Board of Directors.

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     Section 3. All acts and parts of acts inconsistent herewith are hereby repealed and this act

 

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shall take effect upon its passage.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

IN AMENDMENT AND CONSOLIDATION OF THE CHARTER OF THE GREATER

PROVIDENCE YOUNG MEN'S CHRISTIAN ASSOCIATION

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     This act would amend and restate the charter of the Greater Providence YMCA to (a)

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consolidate its charter into one document; and (b) to consolidate its governance from a board of

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trustees and a board of directors to a board of directors only, which is in fact the current structure.

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     This act would take effect upon passage.

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