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1953--SESSlON. LAWS CH. 945-946 <br /> <br />center of the branch; thence-in a southeastern direction with the center <br />of the branch for a distance of-approximately 3/10 rose to the point o1 <br />beginning, all such calls, metes and bounds ho. ring been made from a map <br />compiled by A. A. Mitchefl and $. V. Dwlgg~ns and drawn by J. E, Powell <br />and identified on the map as 'This Is Greater KannapoBs Map'." <br /> Sec. 6. The Board shall be composed of civic minded people who shall <br />serve as raember~ without pay or other remuneration. Necessary expenses <br />ior carrying out thc duties of the Board shall be pravided by contributions <br />to the Board from voluntary sources, and no tax or assessment shall be <br />lev~ed for the purpose of supporting said Board, <br /> Sec. 7. All laws and clauses of laws in conflict with this Act are <br />hereby repealed. <br /> Sec. 8, This Act shall be iu full force and effect from and after its <br />ratification. <br /> In the General Assembly read three times and ratified, this the 23rd <br />day of April, 1953. <br /> <br /> H. B. 112,5 CHAPTER 946 <br />AN ACT TO A1HEND cHAPTER 56 OF THE PRIVATE LAWS OF 1911, <br /> EMPOWERING THE ANSON SANATORIUM TO CONVEY ITS EN- <br /> DOWMENT FUND TO AN ANSON COUNTY HOSPITAL. <br /> <br /> Thc C, cneral Asscmbbd of North Carolina do ~aa~: <br /> Section I. Chapter fifi of the Private Laxvs of 191l is hereby amended <br /> hy adding the following new Sections, to be placed after Section 1~, and <br /> to be designated and to read ns follows: <br /> "Sec. 15.1. The Board of Directors of the Anson Sanatarium are <br />hereby authorlzcd and emoowered~ upon completion of an Arisen County <br />Hospital and of preparations of such hospital to begin operations, to turn <br />over and deliver to the }}oard of Trustees of the Anson County Hospital <br />the endowment fund of the AnsO~l Sanatorium, to be held by such trustees <br />of said Arisen County Hospital in an irrevocable trust, to be designated <br />"The Anson County Hospital Endowment Fund." Upon such transfer and <br />conveyance of the assets and properties of the endowment fund by the <br />I~oard of Directors of the Anson Sanatorium,'said directors shall thereby <br />m~tomatieally and completely become divested'~of all interest and right of <br />control over said funds. ._ . · ::..--':,...,-~..~ <br /> Sec. 15.2, The Arisen County.~Hospital~Endowment Fund so created <br /> pursuant to the provisions of this'Chapter"~}{~ll he constituted an irrevoc- <br /> able trust which shall never be invaded or used for the operational pur- <br /> poses of the Anson County Hospital and only the income arising from the <br /> corrals of the endowment fired may be used for maintenance, support and <br /> ~ne'rational purposes of the Anson~ County;Hospital if the same should <br /> become necessary; and all accretions to the endowment fund in ~he nature <br /> nf ~stoclt dlx~dends, profits from ~he sale of all property is <br /> become a part of the corpus of the:.e~do~'ment'fund,' and all future <br /> donations and bequests to <br /> snecific.trust, and all other property of every nature, <br /> <br /> I <br /> <br /> <br />