LA 049
2018 -- S 2643
Enacted 05/24/2018

A N   A C T

Introduced By: Senator Harold M. Metts
Date Introduced: March 20, 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.