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1908—Chapter 77. 99
the Grand Lodge of Nortli Carolina was authorized to "acquire
and transfer property, and pass such by-laws and regulations as
shall not be inconsistent with the Constitution and laws of North
Carolina"; and by virtue of such authority it has acquired the
capital stock of the Masonic Temple Construction Company, a
corporation duly created, organized and existing under and by
virtue of the laws of the State of North Carolina, and doubts
have arisen as to its authority to acquire and hold the said stock:
Now, therefore.
The General Assembly of North Carolina do etiact:
Section 1. That the Act of the General Assembly of North charter amended.
Carolina, ratified December 20, 1797, entitled "An act to incor-porate
the Grand Lodge of North Carolina," be and the same
is hereby amended by adding thereto the following:
(1) The Grand Lodge of North Carolina is hereby authorized Grand Lodge may
and empowered to subscribe for, acquire, hold and own the capi- sonic^Temp\e Cen-tal
stock, or any portion thereof, of the Masonic Temple Construe- stmction com-tion
Company, and it may enact such by-laws and pass such reso- By-laws and
lutions as may be necessary and proper to effectuate this pur- resolutions,
pose, and to secure to it the proper representation of its stock
therein, and management thereof.
(2) Any person who, under the constitution and by-laws of the who may be
Grand Lodge of North Carolina, is a member thereof or may be *^*'^^<=*^°"-
by reason of such membership a director or other officer of the
Masonic Temple Construction (^ompany.
(3) That the stock in the Masonic Temple Construction Com- stock and property
pany, owned or controlled by the Grand Lodge of North Carolina, faxSion^''°™
and the property which it represents, shall be exempt from taxa-tion.
State, county or municipal, so long as the same is used for
charitable purposes, and until the same shall become a source of
profit to the Grand Lodge of North Carolina. That the lodges
subordinate to the Grand Lodge of North Carolina are hereby sub ordinate lodges
authorized and empowered to subscribe for, hold and own any bol^^"
of the bonds of the Masonic Temple Construction Company, and
such bonds by them or by the Grand Lodge of North Carolina Bonds exempt
shall be exempt from taxation so long and only so long as they
^°'^
are held for charitable and benevolent purposes.
Sec. 2. This act shall be in force from and after its ratification.
In the General Assembly read three times, and ratified this 5th
day of February, A. D. 1903.
Object Description
Description
| Title | Page 153 |
| Full Text | 1908—Chapter 77. 99 the Grand Lodge of Nortli Carolina was authorized to "acquire and transfer property, and pass such by-laws and regulations as shall not be inconsistent with the Constitution and laws of North Carolina"; and by virtue of such authority it has acquired the capital stock of the Masonic Temple Construction Company, a corporation duly created, organized and existing under and by virtue of the laws of the State of North Carolina, and doubts have arisen as to its authority to acquire and hold the said stock: Now, therefore. The General Assembly of North Carolina do etiact: Section 1. That the Act of the General Assembly of North charter amended. Carolina, ratified December 20, 1797, entitled "An act to incor-porate the Grand Lodge of North Carolina," be and the same is hereby amended by adding thereto the following: (1) The Grand Lodge of North Carolina is hereby authorized Grand Lodge may and empowered to subscribe for, acquire, hold and own the capi- sonic^Temp\e Cen-tal stock, or any portion thereof, of the Masonic Temple Construe- stmction com-tion Company, and it may enact such by-laws and pass such reso- By-laws and lutions as may be necessary and proper to effectuate this pur- resolutions, pose, and to secure to it the proper representation of its stock therein, and management thereof. (2) Any person who, under the constitution and by-laws of the who may be Grand Lodge of North Carolina, is a member thereof or may be *^*'^^<=*^°"- by reason of such membership a director or other officer of the Masonic Temple Construction (^ompany. (3) That the stock in the Masonic Temple Construction Com- stock and property pany, owned or controlled by the Grand Lodge of North Carolina, faxSion^''°™ and the property which it represents, shall be exempt from taxa-tion. State, county or municipal, so long as the same is used for charitable purposes, and until the same shall become a source of profit to the Grand Lodge of North Carolina. That the lodges subordinate to the Grand Lodge of North Carolina are hereby sub ordinate lodges authorized and empowered to subscribe for, hold and own any bol^^" of the bonds of the Masonic Temple Construction Company, and such bonds by them or by the Grand Lodge of North Carolina Bonds exempt shall be exempt from taxation so long and only so long as they ^°'^ are held for charitable and benevolent purposes. Sec. 2. This act shall be in force from and after its ratification. In the General Assembly read three times, and ratified this 5th day of February, A. D. 1903. |
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