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An act to amend the "Act for the incorporation of Benevolent, Charitable, Scientific and Missionary Societies, passed April twelfth, eighteen hundred and forty-eight."
Passed March 8, 1870; three-fifths being present.

The People of the State of New York, represented in Senate and Assembly, do enact as follows :

SECTION 1. The "Act for the incorporation of benevolent, charitable, scientific and missionary purposes, passed April twelfth, eighteen hundred and forty-eight," shall be deemed to authorize the incorporation of any society for the purpose of establishing and maintaining any educational institution, or chapel, or place of Christian worship, or any parsonage, rectory or official residence of any bishop, pastor, or minister of any Christian church or association.

SEC.2. It shall be lawful for the trustees or managers of any society incorporated under the act aforesaid, or under this act, to provide in their by-laws for the classification and the mode of perpetuating the board of trustees or managers, and filling vacancies therein as the same may occur.

SEC. 3. Any university or college incorporated under this act, may take and hold by gift, grant, devise or bequest if property or endowment, not exceeding in value or amount one million of dollars, subject, however, to the restriction upon devises and bequests contained in an act entitled "An act relating to wills," passed April thirteen, eighteen hundred and sixty.

SEC. 4. The seventh section of the act mentioned in the first section of this act, and so much of the eighth section as requires the trustees to file annually, in the county clerk's office, a certificate, inventory and affida-

vit, shall not be deemed applicable to universities and colleges incorporated as aforesaid.

SEC. 5. This act shall apply as well to societies organized under the aforesaid act as to those which shall be hereafter organized.

SEC. 6. This act shall take effect immediately.

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1 R.S., Part 1, Chapter 8, Art. 3, Title 3, of the general powers, privileges and liabilities of corporations. §§ 1, 2, 3, 6.

SECTION 1. Every corporation, as such, has the power:
1. To have succession by its corporate name, for the period limited in its charter ; and when no period is limited, perpetually.
2. To sue and be sued, complain and defend in any court of law or equity.
3. To make and use a common seal, and alter same at pleasure.
4. To hold, purchase and convey real and personal estate, as the purposes of the corporation shall require, not exceeding the amount limited in its charter.
5. To appoint such subordinate officers and agents as the business of the corporation shall require, and allow them a suitable compensation.
6. To make by-laws, not inconsistent with any existing law, for the management of its property, the regulation of its affairs, and for the transfer of its stock.

SEC. 2. The powers enumerated in the preceding section shall vest in every corporation that shall hereafter be created, although they may not be specified in its charter, or in the act under which it shall be incorporated.

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