North Carolina - Acts on Education Topics

An Act to Incorporate the Bingham School Trust Fund.

1881 Private Laws: Chapter 60

Private Laws of the State of North Carolina Passed in 1881 - Pages 781-782.

Whereas, The Bingham School has been for nearly a century a leading educational institution in the southern states of the highest grade, of large patronage from states of every section of the union;

And whereas, Said school has always, with generous liberality, dispensed its teachings to indigent and worthy young men without charge for tuition, having aided more than one hundred and forty within the past five years;

And whereas, With increased funds such school would be a more powerful factor in the education of our people: Therefore,

The general assembly of North Carolina do enact:

Section 1. Thomas J. Jarvis, governor of North Carolina, W. N. H. Smith, chief justice of North Carolina, John M. Worth, treasurer of North Carolina, John C. Scarborough, superintendent of public instruction, and Robert Bingham, superintendent of the Bingham School, and their successors in office, shall be a body politic and corporation under the name of "The Bingham School Trust Fund," with the right to sue and be sued, plead and be impleaded, and other rights and incidents possessed by like corporations under chapter twenty-six of Battle's Revisal, entitled "corporations."

Sec. 2. The corporation shall have power to solicit, receive and invest all such money, funds and property of whatsoever kinds, as may be given to said corporation, and they may employ agents for soliciting the same, and change investments from time to time as they may deem best. The interest and profits of all such funds and property shall be used for the purpose of the support and instruction of indigent pupils of the Bingham School, and if at any time the existence of said school shall cease and the same shall be closed for a period of ten (10) consecutive years, the principal of said fund and said property shall belong to the trustees of the University of North Carolina, to be used in the education of youths at said University in such manner as said trustees shall choose.

Sec. 3. The government of said corporation shall be under the direction of said corporation and their successors, any three of whom shall constitute a quorum for the transaction of business, but no order shall be made touching the interest or profit of said fund and property, without the concurrence and approval of said Robert Bingham and his successor in office.

Sec. 4. This Act shall be in force from and after its ratification.

In the general assembly read three times, and ratified this the 9th day of March, A.D. 1881.

Thomas J. Jarvis, Governor
Charles M. Cooke, Speaker of the House of Representatives
James L. Robinson, Lt. Governor and President of the Senate

State of North Carolina,
Office Secretary of State,
Raleigh, May 14th, 1881.

I, William L. Saunders, Secretary of State, hereby
certify that the foregoing are true copies of the original
acts and resolutions on file in this office.

William L. Saunders,
Secretary of State.

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