Charitable Trusts: Hearing Before the Subcommittee on Public Health and Welfare..., 92-1, on H.R. 9172 and 10790..., October 6, 1971, Volume 77

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Page 42 - CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED In compliance with clause 3 of rule XIII of the Rules of the House of Representatives, changes in existing law made by the bill, as reported, are shown as follows...
Page 17 - ... receive, subscribe for, or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose of, and otherwise use and deal in and with, shares or other interests in, or obligations of, other domestic or foreign corporations...
Page 8 - THE IMPACT OF THE TAX REFORM ACT OF 1969 The Tax Reform Act of 1969 has considerably increased the domestic oil industry's tax burden, both in relation to previous years and in relation to other industries most of which were less significantly affected by the Act. In part, the impact is reflected in the $185 million increase in the federal income tax liability of our...
Page 16 - To have and exercise all powers necessary or convenient to effect any or all of the purposes for which the corporation is organized.
Page 17 - To purchase, take, receive, subscribe for, or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose of, and otherwise use and deal in and with, shares...
Page 17 - To have a corporate seal which may be altered at pleasure, and to use the same by causing it, or a facsimile thereof, to be impressed or affixed or in any other manner reproduced.
Page 15 - To purchase, take, receive, lease, take by gift, devise or bequest, or otherwise acquire, own, hold, improve, use and otherwise deal in and with, real or personal property, or any interest therein, wherever situated. (e) To sell, convey, mortgage, pledge, lease, exchange, transfer and otherwise dispose of all or any part of its property and assets.
Page 17 - To make contracts and incur liabilities, borrow money at such rates of interest as the corporation may determine, issue its notes, bonds, and other obligations, and secure any of its obligations by mortgage or pledge of all or any of its property, franchises and income.
Page 17 - To make and alter by-laws, not inconsistent with its articles of incorporation or with the laws of this State, for the administration and regulation of the affairs of the corporation.
Page 19 - Act is hereby declared to be an emergency measure and necessary for the immediate preservation of the public health and safety, and having been passed by a yea and nay vote supported by three-fifths of the members elected to each of the two Houses of the General Assembly, the same shall take effect from the date of its passage.

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