| LA 048 |
| 2018 -- H 7892 Enacted 05/24/2018 |
| A N A C T |
| IN AMENDMENT AND CONSOLIDATION OF THE CHARTER OF THE GREATER PROVIDENCE YOUNG MEN'S CHRISTIAN ASSOCIATION |
| Introduced By: Representatives Williams, Perez, Walsh, Ranglin-Vassell, and Hull |
| Date Introduced: February 28, 2018 |
| It is enacted by the General Assembly as follows: |
| An Act entitled "An Act to Incorporate the Providence, Young Men's Christian |
| Association" passed at the January Session, 1854, as amended by the several acts in amendment |
| and in addition thereto, is hereby further amended, restated and consolidated to read as follows: |
| Section 1. Amos C. Barstow, John B. Hartwell, Allen Brown, Charles A. Webster, |
| Zuinglius Grover, Henry H. Clemons, Daniel Goodwin, Nathan B. Hall, William Coggeshall, |
| James Royce, John F. Jolls, John D. Hanley, Jr., Jeremiah Heath, Henry C. Merchant, Josiah L. |
| Webster, Levi J. Lewis, Samuel G. Curry, Abner Gay, Jr., and A. D. Bradley, their associates and |
| such others as hereafter may be admitted members of this corporation, are hereby constituted and |
| created a body corporate and politic for the purpose of the improvement of the spiritual, mental |
| and physical condition of young men and boys, by the name of 'Greater Providence Young Men's |
| Christian Association' and by that name shall have perpetual succession, and are made able and |
| capable in law, to take, hold, transmit and convey real and personal estate, which shall be exempt |
| from taxation so long as said real and personal estate shall be devoted to the purpose of said |
| Greater Providence Young Men's Christian Association (except for real estate located in the |
| Town of South Kingstown identified as Assessor's Plat 76-1, lot 6 in 2005 which such property |
| shall remain subject to taxation); to sue and be sued, plead and be pleaded; defend and be |
| defended against, in all courts of law and equity, and before all tribunals whatever; to make, have |
| and use a common seal, and the same to break, alter or renew; and also shall have power and |
| hereby are authorized to hold such meetings, and to make, ordain and establish such by-laws and |
| regulation, not contrary to law, as they may think proper, for the government of said corporation, |
| and the management of the affairs and interests and the transaction of the business thereof, and |
| the same to alter, amend or repeal; and generally to do and execute all acts, matters and things |
| which corporations not organized for business purposes may do or which may be necessary in |
| order to carry into effect the powers and privileges herein granted. In addition to the powers |
| granted to it by its Charter, this Corporation shall have the power and authority in conducting an |
| educational institute with courses on the post-secondary college level to grant to students |
| graduating from such courses of study in the field of accounting the degree of associate of |
| accounting, to students graduating from such courses of study in the field of engineering the |
| degree of associate of engineering, and to students graduating from such courses of study in the |
| field of management the degree of associate of management, in recognition of the attainment of |
| achievement of such students in their respective course or courses of study. |
| Section 2. A Board of Directors of such number as the By-laws of the Association may |
| provide shall be elected in such manner and upon such tenure of office as the By-laws of the |
| Association may provide; and the President of the Association, for the time being, shall be ex- |
| officio and additional board member. The Board of Directors shall (a) have the management and |
| control of any real estate of the Association held for investment purposes, and all real estate used |
| in the operation of the Association and its program shall be under the management and control of |
| the Board of Directors; (b) have the management and control of personality held by the |
| Association for investment purposes. All funds and real estate not held for investment purposes |
| shall also be under the management and control of the Board of Directors. |
| The Chief Financial Officer shall, subject to a vote of the Board of Directors or its |
| Executive Committee, have the power to transfer any stock, securities, or other property under the |
| control of said Board of Directors. As to property under its management and control, the Board of |
| Directors shall have power, in the name of the Association, to invest without restriction as to type |
| and to sell, assign, and transfer such property in its discretion. The Board of Directors may |
| delegate its investment authority to an Investment Committee appointed by it. The said Board of |
| Directors shall also have power, in the name of the Association, to sell, lease, transfer, mortgage, |
| or pledge any real or personal property under their charge or management as aforesaid whenever |
| the interests of the Association, in their best judgment, require same, provided, however, that said |
| Directors shall not have power to sell or mortgage any real estate without a majority vote of the |
| members of the Board of Directors. |
| Section 3. All acts and parts of acts inconsistent herewith are hereby repealed and this act |
| shall take effect upon its passage. |
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| LC004861 |
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