CHAPTER 131. An Act to incorporate "Jon Bjarnason Academy" WHER [Assented to March 10th, 1916.] WHEREAS Niels Steingrimur Thorlaksson, of the Town Preamble. of Selkirk, in the Province of Manitoba, clergyman; Magnus Paulson, accountant; Arni Eggertson, real estate broker: Halldor S. Bardal, merchant; John J. Vopni, manager; John J. Bildfell, real estate broker; Brandur J. Brandson, physician, all of the City of Winnipeg, in the said Province; Christian Johnson, of Baldur, in the said Province, merchant, and Kristinn K. Olafsson, of Mountain, in the State of North Dakota, clergyman, have, by their petition represented that an educational institution has been for some time and is now in operation at the City of Winnipeg, in this Province, in connection with and under the authority of the Icelandic Evangelical Lutheran Syñod of America; and whereas, it would tend to advance the usefulness of the said institution and promote the purposes for which it has been established that it should be incorporated, Therefore His Majesty, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows: 1. There shall be and there is hereby constituted and es- Name. tablished, within the Province of Manitoba, a body politic and corporate under the name of "Jon Bjarnason Academy," which corporation shall consist of the persons hereinbefore mentioned, and such others as now are and may from time to time become members of the Icelandic Evangelical Lutheran Synod of America, for the education of youth of both sexes Educational and the promotion of Icelandic, theological, classical and objects. general scientific knowledge, the religious instruction pro- Religious vided by the institution being on the confessional basis of the objects. Icelandic Lutheran Synod of America. 2. The said corporation, by the name of "Jon Bjarnason Seal. Academy," shall have perpetual succession and a common seal, and by such name may from time to time hereafter purchase, acquire, hold, possess and enjoy, and may have, take and receive for it and its successors any lands, tenements and hereditaments and real and immovable property and Holding of estate within this Province necessary for actual use and occupa- property. tion as buildings, offices and residences for the professors, tutors, students and officers of said institution, with gardens and pleasure grounds pertaining thereto, not to exceed an Maximum annual rental value of $25,000.00, and the same may sell, property to be mortgage, hypothecate, alienate and dispose of and others held. rental value of Acquire mortgage and dispose of real estate. Investment. Holding securities for debt. Directors to manage. Directors, how appointed. Powers of directors. in their stead purchase, acquire and hold for the uses and purposes aforesaid. 3. The said corporation may, by the name aforesaid, acquire any other real estate or interest therein by gift, devise, bequest or otherwise and may sell, mortgage, hypothecate, or dispose of the same as to it may seem fit or expedient and the proceeds of such property so disposed of and any other moneys belonging to the said corporation may be invested in any bonds or securities of the Dominion of Canada or of any Province thereof or of Great Britain or Ireland or of any foreign state, in any debenture of any municipality or school district of this Province, and upon the security of any real or personal property or in the purchase of rental-bearing real estate, and may take hold and dispose of any real or personal property or any interest therein for the uses and purposes of the said corporation. 4. The said corporation shall be capable of taking, holding and acquiring all such lands and tenements, real and personal estate as may or shall have been bona fide mortgaged, hypothecated or pledged to the said corporation by way of security or conveyed to it in satisfaction of debts previously contracted or purchased at judicial sales upon levy for such indebtedness or otherwise purchased for the purposes of avoiding a loss to the corporation in respect thereof or to the owner thereof. 5. The affairs of the said corporation shall be managed by a board of nine directors, and Niels Steingrimur Thorlaksson, of the Town of Selkirk, in Manitoba, clergyman; Magnus Paulson, accountant; Arni Eggertson, real estate broker; Halldor S. Bardal, merchant; John J. Vopni, manager; John J. Bildfell, real estate broker; Brandur J. Brandson, physician, all of the City of Winnipeg, in the said Province; Christian Johnson, of Baldur, in the said Province, merchant, and Kristinn K. Olafsson, of Mountain, in the State of North Dakota, clergyman, shall constitute the first board of directors and shall hold office until their successors are appointed as hereinafter mentioned. The principal of the said institution shall. be a member ex officio of the said board in addition to the above-named directors, provided that the number may be increased or reduced at the option of the said synod in convention, but not to more than fifteen nor to less than seven. 6. The board of directors shall be appointed by the said synod in such manner as it may from time to time by rules or by-law appoint. 7. The board of directors shall have the sole management of the financial affairs of the said corporation, shall receive and dispose of its money, control, keep and manage all its property and transact all business relating to property and money committed to its care by the said synod or otherwise, and shall at all times and in all things observe and obey the instructions of the said synod. 8. The professors engaged in said institution, together with Senate. not less than two and not more than five members of the board of directors nominated by the board for that purpose, shall constitute the senate, to whom shall be entrusted the Powers of. reception, academical superintendence and discipline of the students and of all other persons within the said institution. synod. 9. The power of appointing and removing the president Powers of and professors in the said institution shall be and the same is hereby vested in the said synod, but the appointment or removal of tutors shall be and is hereby vested in the said board of directors; provided always that the synod may by rule or by-law delegate to the board of directors the power of appointing and removing the professors under such restrictions and regulations as the said synod may from time to time deem expedient. synod. 10. The said synod may from time to time make rules By-laws of or by-laws for the government of the said institution and for the guidance of the board of directors, and may alter, amend and annul the said rules and by-laws; provided always that such rules or by-laws be not contrary to this Act or repugnant to the laws of this Province. by-laws. 11. The said rules or by-laws shall be entered in a book Record of kept for that purpose, and signed by the president of the convention, at which the said rules or by-laws are adopted or passed, and the secretary or clerk thereof, and such book shall be deposited among the records of the said synod. as evidence. 12. A copy of said rules or by-laws, certified under the hands Copy of by-laws of the secretary of the said synod, shall be admitted and received as evidence of the said rules or by-laws and of the contents thereof in any court of this Province, and for all purposes without proof of the signature of the said secretary. in corporation. 13. All and every estate and property real and personal Property vested held by any person or persons as trustees for or on behalf of the said educational institution, and all debts, claims and rights whatsoever due to any person or persons for the purposes of the said institution shall be and are hereby vested in the corporation hereby established; and all debts due by and all claims against any person or persons on behalf of the said institution shall be paid, discharged and satisfied by the said corporation. 14. This Act shall come into force on the day it is assented to. |