ACT TO ESTABLISH THE MASONIC EDUCATION AND CHARITY TRUST
COMMONWEALTH OF MASSACHUSETTS
AN ACT TO ESTABLISH AND INCORPORATE
THE MASONIC EDUCATION AND CHARITY TRUST.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by authority of the same, as follows: —
The Corporation known as the Master, Wardens and Members of the Grand Lodge of Masons in Massachusetts, established by chapter seventy-three of the Acts of the year eighteen hundred and fifty-nine, shall have authority to institute a Board of Trustees, as hereinafter provided, to receive, hold, invest, reinvest and manage all gifts, devises and bequests made either to said Board or to the Grand Lodge upon trusts for educational or charitable purposes and relief connected with the families of deceased or living members of said Grand Lodge and its subordinate organizations, or for the relief of distressed Freemasons, their widows or orphans, of this or other States or countries, and also for the promotion of its library and collections relating to art, architecture and antiquities; and it may also accept and hold in trust such funds as the said Grand Lodge may, from time to time, give to it on specific trusts for any of the above-named charitable or educational uses; Provided, however, that the whole amount of funds and property so held shall not exceed one million dollars.
When said Board of Trustees have been elected and shall have organized by electing a President, Treasurer, and Secretary, the Board shall report its organization to the Grand Lodge, and the Master thereof shall report the same to the Secretary of the Commonwealth, under the seal of the Grand Lodge, attested by the Grand Secretary, and thereupon said Board shall be a Corporation, by the name of the Masonic Education and Charity Trust, with the same powers and subject to the same restrictions and liabilities as provided by general laws relating to corporations for similar purposes, but shall have none of the powers described in sections eight, nine, and eleven of chapter one hundred and fifteen of the Public Statutes.
The said Grand Lodge shall elect eight Trustees, who shall hold respectively, for terms of one, two, three, four, five, six, seven, and eight years from the first day of January in the current year, and thereafter shall elect one Trustee .annually, to hold for eight years, and may fill any vacancy, that shall arise by death, resignation, or removal by the Board of any member for infirmity, neglect or other sufficient cause. A Trustee may hold over after his time expires till his successor has been elected and accepted. If, after four months from the expiration of the term, or the occasion of a vacancy, no election of a successor has been so made, the Board of Trustees may elect a Trustee, who shall be a member of the Grand Lodge aforesaid, to fill the unexpired term. The Grand Master for the time being shall be a member of the Board. Five of said Trustees shall not at the same, time hold the office of Trustee and any other elected or appointed office in the Grand Lodge.
No loan shall be made of the Trust funds to any member of the Board, nor shall any member be surety for such loan. The Trustees shall annually report the condition and investment of all the funds entrusted to them to. the said Master, Wardens and Members of the Grand Lodge, whose Directors shall cause the accounts of the said Board to be examined at least once a year, and oftener should they deem it necessary, and certify the result.
HOUSE OF REPRESENTATIVES, May 2, 1884. Passed to be enacted.
- GEO. A. MARDEN, Speaker.
IN SENATE, May 8, 1884. Passed to be enacted.
- GEO. A. BRUCE, President.
May 8, 1884, Approved. GEO. D. ROBINSON. SECRETARY'S DEPARTMENT, BOSTON, June 11, 1884..
A true copy:
Witness the Seal of the Commonwealth.
[L.S.] ISAAC H. EDGETT,
Deputy Secretary of the Commonwealth.