2020 -- H 7555 | |
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LC003701 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2020 | |
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A N A C T | |
RELATING TO AN AMENDMENT OF AND IN ADDITION TO AN ACT ENTITLED "AN | |
ACT TO INCORPORATE THE FIRST HOPKINTON CEMETERY ASSOCIATION," PASSED | |
AT THE JANUARY SESSION, A.D. 1880, AS AMENDED | |
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Introduced By: Representatives Kennedy, Azzinaro, and Price | |
Date Introduced: February 12, 2020 | |
Referred To: House Municipal Government | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Sections 2, 3, 4, 5 and 7 of an act entitled "An act to incorporate The First |
2 | Hopkinton Cemetery Association," passed at the January session A.D. 1880, as amended at the |
3 | January sessions A.D. 1905 and 1974, are hereby amended so as to read as follows: |
4 | Sec. 2. Said corporation may take, hold, transmit and convey real and personal property |
5 | to an amount not exceeding ten thousand dollars, and for the purpose of the said cemetery may |
6 | take and hold land not exceeding twenty acres. |
7 | Section 1. The First Hopkinton Cemetery Association located in the town of Hopkinton, |
8 | Rhode Island, a non-business corporation incorporated March 4, 1880, is hereby authorized and |
9 | empowered to take, hold, transmit and convey real and personal estate to an amount not |
10 | exceeding two hundred fifty thousand dollars ($250,000), so long as said estate is used for the |
11 | non-business purposes of said corporation. |
12 | Sec. 2. The First Hopkinton Cemetery Association located in the town of Hopkinton, |
13 | Rhode Island, a non-business corporation incorporated March 4, 1880, is hereby authorized and |
14 | empowered to take, hold, transmit and covey real and personal property, money or investments in |
15 | an unlimited amount as allowed by state statute, so long as said estate is used for the non-business |
16 | purposes of said corporation. Said corporation may also take and hold land in an amount of |
17 | acreage as the trustees deem necessary or reasonable. |
18 | Sec. 3. All money or property received by the said corporation, for and as an endowment |
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1 | fund, shall be forever kept safely invested at interest, in some savings bank or banks, or in some |
2 | trust company or companies, chartered by the state of Rode Island, or in bond or mortgage in |
3 | unencumbered improved real estate in the state of Rhode Island on which taxes are paid on a |
4 | valuation of at least twice the amount loaned thereon. If the endowment fund shall at any time |
5 | become diminished, the trustees shall each year thereafter set apart one-half the income from said |
6 | fund, which shall be added to said fund until it shall have reached the maximum amount to which |
7 | it may have attained. The income of the endowment fund, except as before provided, shall be |
8 | used only to keep the cemetery grounds and inclosures in good order. |
9 | Sec. 3. All money or property received by the said corporation, for and as an endowment |
10 | fund, shall be forever kept invested at the discretion of the Board of Trustees in some savings |
11 | bank or banks or in some trust company, mutual funds, stocks, bond investments or CDs and |
12 | money market accounts, which pay interest, dividends and/or capital gains in some savings bank |
13 | or banks or in some trust company chartered by the state of Rhode Island, or investment |
14 | companies allowed by law to do business in the state of Rhode Island. If the endowment fund |
15 | shall at any time become diminished, the trustees shall each year thereafter set apart one-half |
16 | (1/2) of the income from said corporation which shall be added to said fund until it shall have |
17 | reached the maximum amount to which it may have attained. The income of the endowment fund, |
18 | except as before provided, shall be used only to keep the cemetery grounds and enclosure in good |
19 | order. |
20 | Sec. 4 The corporate rights and franchises of the said corporation shall be duly vested in a |
21 | board of trustees consisting of five persons, two of whom shall be the pastor and church clerk of |
22 | "The First Seventh Day Baptist Church, of Hopkinton," and who shall be ex officio members of |
23 | the said board, together with three others who shall be elected at the first meeting called for said |
24 | purpose after the passage of this act, to hold the said trusteeship for one, two and three years |
25 | respectively, and until their successor or successors shall have been duly elected and shall have |
26 | accepted the office. And that thereafter at each annual meeting of the said association, an election |
27 | for one trustee shall be held to serve for three years and until his successor shall have been duly |
28 | elected and shall have accepted the office. No trustee shall receive compensation for his services |
29 | as trustee, nor for personal expenses incurred for attending meetings of the board. The board of |
30 | trustees shall meet at least once each year and shall make and publish an annual report, stating |
31 | their receipts and expenditures and an account of their doings for the year. |
32 | Sec. 4. The corporate rights and franchises of the said corporation shall be duly vested in |
33 | a board of trustees consisting of seven persons, to hold the said trusteeship for one, two, three, |
34 | four, five, six and seven years respectively, and until their successor or successors shall have been |
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1 | duly elected and shall have accepted the office. No trustee shall receive compensation for his |
2 | services as trustee nor for personal expenses incurred for attending meetings of the board. The |
3 | board of trustees will meet at least once each year and shall make and publish an annual report, |
4 | stating their receipts and expenditures and an account of their doing for the year. |
5 | Sec. 5. Said trustees shall appoint from their own number a president, and a treasurer, |
6 | assistant treasurer, secretary and superintendent who shall also act as secretary. They shall also |
7 | fill vacancies occurring in their own body. They shall have full and entire management and |
8 | control of the business and property of the corporation, and make such improvements as may be |
9 | required for the maintenance of such cemetery. They shall make such bylaws as they may deem |
10 | proper for the government of the corporation, and shall have power to alter and amend the same |
11 | from time to time as may be required. An annual meeting of said corporation shall be held at such |
12 | time and place as the by-laws bylaws shall direct, but the validity of this charter shall not be |
13 | impaired by the omission to hold the annual meeting. |
14 | Sec. 7. All conveyances and transfers of lots in said cemetery made by the corporation or |
15 | by owners of lots shall be by deed, such deed from the corporation shall be executed by the |
16 | superintendent or treasurer, and all deeds shall be recorded in a book kept by him him/her for that |
17 | purpose. |
18 | SECTION 2. This act shall take effect upon passage. |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO AN AMENDMENT OF AND IN ADDITION TO AN ACT ENTITLED "AN | |
ACT TO INCORPORATE THE FIRST HOPKINTON CEMETERY ASSOCIATION," PASSED | |
AT THE JANUARY SESSION, A.D. 1880, AS AMENDED | |
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1 | This act would amend the corporate charter of The First Hopkinton Cemetery Association |
2 | passed at the January session A.D. 1880, as amended. |
3 | This act would take effect upon passage. |
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