Bill ID 4980 (Legislature 16, Session 4)

L16 S4 4980

Alberta — Bills

1971 Bill Pro 4 Fourth Session, 16th Legislature, 20 Elibibith Ii THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL Pre 4

An Act to amend

an Act to Incorporate The Prairie Bible Institute MR. JESPERSEN First Reading Second Reading Third Reading Printed by L. S. Wall, Queen's Printer, Edmonton

BILL Pre 4 1971

AN ACT TO AMEND

AN ACT TO INCORPORATE THE PRAIRIE BIBLE INSTITUTE (Assented to , 1971)

Preamble

WHEREAS The Prairie Bible Institute has presented a Petition praying for

an Act to amend its Act of In corporation as hereinafter set forth; and

WHEREAS it is expedient to grant the prayer of the said Petition: THEREFORE HER l\,1:AJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1946, c. 78; 1.

An Act to Incorporate The Prairie Bible Institute is tm:nds long hereby amended as to the

long title by striking out the words "The Prairie Bible Institute" where the same occur therein and by substituting there for the words "Prairie Bible In stitute". Amends s. 1

Section 1 is amel'/'ded by striking out the words "The Prairie Bible Institute", where the same occur therein, and by substituting therefor the words "Prairie Bible Institute". Amends s. 2

Section 2 is amended (

a) by striking out subsection (1) and by substituting the following: 2. (1) to acquire by gift, devise, bequest, pur chase, exchange, lease or otherwise, real or personal property of any and every nature and kind and to possess, hold and enj oy the same as owner; (

b) as to subsection (2) by striking out the words "sub j ect to the provisions of subsection (1)", (

c) as to subsection (3) by striking out the words "sub ject to subsection (1) ", (

d) by striking out subsection (4) and by substituting the following:

Expla natory Notes I. and 2. Name changed from The Prairie Bible Institute to Prairie Bible Institute. 3. Remove restriction in the existing private Act regarding the holding of real and personal property not being used for the actual use and occupation of the corporation. 4. Enable the institute to enter into gift annuity agreements with members and others desiring to do so.

Enacts s. 2 Gift Annuity Agreements. Amends s. a Amends s. 5 Amends s. 6 ( 4) to acquire, take possession of and hold as the corporation may deem proper all such property, both real and personal, as may at any time be mortgaged, hypothecated or pledged to the corporation by way of security or conveyed to it in satisfaction of obliga tions or debts due or owing to it from any person, firm or corporation; 4. The following

section is added after

section 2: 2a.

(1) The corporation may acquire gifts of money or property by agreement with the donor.

(2) The agreement may provide that the corporation shall pay to the donor or other person the income therefrom or an agreed rate of return thereon or on the agreed value thereof or any portion thereof.

(3) Unless the agreement otherwise provides, the corpora tion shall segregate from its other assets the money or property or proceeds thereof.

(4) Unless the agreement otherwise provides, the corpora tion may invest the money or property as it sees fit and it is not restricted to investments which may be made by trustees.

(5) At the death of the donor or other person to whom payments are to be made under the agreement, the corpora tion is entitled to use the money or property or proceeds thereof for carrying out the obj ects of the corporation.

(6) The corporation shall not payor agree to pay any commission for securing such gifts.

Section 3, subsection (2) is amended by striking out the words "the staff of or attending and residing in the said institutions" and by sUbstituting the words "its staff". 6

Section 5 is amended by striking out subsections (2), (3), (4) and (5).

Section 6 is amended by striking out subsection (1) and by substituting the following: By-laws etc. 6.

(1) It shall be lawful for the corporation to make by laws, rules, orders and regulations for the government and proper administration of the property, affairs and interest of the said corporation, and to repeal and amend the same from time to time, including the enforcement of discipline and the admission and retirement of members, and the ap pointment, disposition and removal of any persons as mem bers of the corporation, or bearing office therein, and generally for the internal government of affairs of the said corporation. 2

5. Deletion of words at the end of

section 3, subsection (2) of the existing Act which no longer reflect the present situation. 6. and 7. Enable the corporation to pass it own rules and regula tions respecting the government and internal management of the corpora tion. 8. Deletion of referecne to The Town and Village Act in

section 7 of the existing Act and substituting the name of the current Act. 2

Amends s.7 Coming into force

Section 7 is amended by striking out the words "The Town and Village Act" and by substituting the words "The Municipal Taxation Act". 9. This Act cmnes into force on the day upon which it is assented to. 3

3 Title: 1971 (16th, 4th) Bill Pr4,

An Act to amend

an Act to Incorporate The Prairie Bible Institute

Document details

Collection	Alberta — Bills
Citation	L16 S4 4980
Type	bill
Volume / chapter	L16 S4 4980
Language	en
Format	json
Source	PROVINCIAL
Identifier	ade08196750d0ecaa7a22783b86c6c3f9c970d0c

Source file is stored in the law ingest library (json).