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Declaration of
Trust (1950)
KNOW ALL MEN BY THESE
PRESENTS, THAT WHEREAS, there has been written a manuscript of
a book entitled The Urantia Book, and there have been produced
from this manuscript approximately two thousand two hundred (2,200)
nickel-plated stereotype plates of patent base thickness for the printing
and reproduction of such book; and WHEREAS, certain persons, hereinafter
referred to as the "Contributors," being desirous that a
foundation be created for the objects herein expressed to be known
as "Urantia Foundation," have contributed certain funds
to that end, and said funds have been expended for the production
of said plates for the printing and reproduction of The Urantia
Book; and WHEREAS, the Contributors, being desirous that their
identity remain unknown in order that the creation of such foundation
shall have no limitations by reason of its association with their
names, coincident with the execution of this Declaration of Trust
and with full knowledge and in consideration thereof, have caused
their nominees to deliver and turn over to the undersigned the said
plates for the printing and reproduction of The Urantia Book,
to be held in trust to make possible the accomplishment and fulfillment
of such desires and to carry out and perpetuate the objects herein
expressed; and WHEREAS, it is also contemplated that from time to
time hereafter money and property of various kinds and descriptions
will be given, granted, conveyed, assigned, transferred, devised,
or bequeathed to such foundation for the uses and purposes and upon
the trusts and conditions herein expressed: Now Therefore,
ARTICLE I CREATION OF FOUNDATION
1.1. CREATION: We, the undersigned,
for and in behalf of the Contributors and those whose inspirations
have this conceived, by this Declaration of Trust, hereby create,
found, and establish this Foundation to be known as "Urantia
Foundation."
1.2. ACCEPTANCE AND DECLARATION:
We, the undersigned, for ourselves and our successors in trust as
hereinafter defined, do hereby acknowledge that there have been
transferred and delivered to us approximately two thousand two hundred
(2,200) nickel-plated stereotype plates of patent base thickness
prepared from the manuscript of The Urantia Book for the
printing and reproduction thereof, which plates are presently stored
in the plate vaults of R.R. Donnelley & Sons Company at
Crawfordsville, Indiana; and we, for ourselves and our successors
in trust, do hereby declare that said plates for the printing and
reproduction of The Urantia Book and all moneys and properties
of every kind and description which may from time to time hereafter
be given, granted, conveyed, assigned, transferred, bequeathed,
or devised to, or otherwise acquired by, Urantia Foundation or the
Trustees thereof, and accepted and received by the Foundation or
the Trustees thereof, shall be held in trust for the uses and purposes
and upon the trusts hereinafter provided.
ARTICLE II OBJECTS
2.1. PRINCIPAL OBJECT: The object
for which this Foundation is created is the promotion, improvement,
and expansion among the peoples of the world of the comprehension
and understanding of Cosmology and the relation of the planet on
which we live to the Universe, of the genesis and destiny of Man
and his relation to God, and of the true teachings of Jesus Christ;
and for the inculcation and encouragement of the realization and
appreciation of the Fatherhood of God and the Brotherhood of Man--in
order to increase and enhance the comfort, happiness, and well being
of Man, as an individual and as a member of society, through the
fostering of a religion, a philosophy, and a cosmology which are
commensurate with Man's intellectual and cultural development.
2.2. CONCORDANT OBJECTS: The
concordant objects for which the Foundation is created are to perpetually
preserve inviolate the text of The Urantia Book and to disseminate
the principles, teachings, and doctrines of The Urantia Book.
ARTICLE III DUTIES OF TRUSTEES
3.1. PRESERVATION OF TEXT OF The
Urantia Book: It shall be the primary duty of the Trustees
to perpetually preserve inviolate the text of The Urantia Book,
and the Trustees shall use and employ such means, methods, and facilities
and apply and expend as much of the Trust Estate as in the judgment
of the Trustees shall be necessary, proper, or appropriate, for
the preserving and the safekeeping of copies of the original text
of The Urantia Book, duly authenticated by the Trustees,
from loss, damage, or destruction and from alteration, modification,
revision, or change in any manner or in any particular.
3.2. EFFECTING PRINCIPAL OBJECT:
It shall be the duty of the Trustees to use and employ such
means and methods as they shall from time to time devise and develop
and to apply and expend the Trust Estate to promote and effectuate
the general purposes as set forth in paragraph 2.1.
3.3. PRESERVATION AND CONTROL OF
REPRODUCTION OF The Urantia Book: It shall be the duty
of the Trustees to retain absolute and unconditional control of
all plates and other media for the printing and reproduction of
The Urantia Book and any translation thereof, to make or
cause to be made such additional plates and other media as shall
from time to time be required to print and reproduce The Urantia
Book and any translations thereof, to retain the absolute and
unconditional control of the possession, custody, use, and disposition
of all such plates and other media for the printing and reproduction
of The Urantia Book and translation thereof, and to apply
and use the Trust Estate therefor.
3.4. DISSEMINATION OF TEACHINGS
OF The Urantia Book: It shall be the duty of the Trustees
to disseminate the teachings and doctrines of The Urantia Book
and to devise, to develop, and to effectuate means and methods for
such dissemination, and to apply and use the Trust Estate for the
accomplishment of that end.
ARTICLE IV TRUST ESTATE
4.1. TRUST ESTATE DEFINED: The
Trust Estate as used herein shall mean and include, and shall be
divided into, the Substantive Estate and the Subservient Estate
as defined in this Article.
4.2 SUBSTANTIVE ESTATE DEFINED:
The Substantive Estate as used herein shall mean and shall be comprised
of and include the following: (a) The plates or other medical for
the printing and reproduction of The Urantia Book and any
and all translations thereof, including not only the plates transferred
to the Trustees concurrently with the execution of this Declaration
of Trust but also such plates and other media for the printing and
reproduction of The Urantia Book as may from time to time
be made; and (b) Such authenticated copies of the original text
of The Urantia Book, but not less than three (3) such copies,
and such authenticated copies of all translations thereof and such
authenticated copies of each and every edition and publication of
The Urantia Book from time to time produced, as the Trustees
in their sole discretion and judgment shall from time to time determine
necessary for effectuating the purposes of the Foundation, including
all replacements of such copies as from time to time shall be made.
4.3. SUBSERVIENT ESTATE DEFINED:
The Subservient Estate as used herein shall mean and shall be comprised
of and include all other money and property of every kind and description
which may from time to time be given, granted, conveyed, assigned,
transferred, devised, or bequeathed, to Urantia Foundation or the
Trustees of Urantia Foundation, and accepted and received by the
Foundation or the Trustees thereof, and all property of every kind
and description purchased or otherwise acquired by the Trustees,
and all increments in and all investments and reinvestments, replacements
and substitutions of, and all earnings, income, profits, and receipts
from any and all such money and property.
ARTICLE V POWERS OVER SUBSTANTIVE
ESTATE
5.1. GENERAL: The Trustees shall
have all powers over the Substantive Estate as shall he necessary
to carry out the objects of the Foundation, but the Trustees shall
not have any power at any time to sell or in any manner encumber
or dispose of the Substantive Estate or any part or portion thereof
except as provided for in this
Article V.
5.2. PRESERVATION AND DESTRUCTION
OF SUBSTANTIVE ESTATE: The Trustees shall have the power to
destroy all or any part of the Substantive Estate except three (3)
copies of the original text of The Urantia Book and the replacements
thereof, but no part of the Substantive Estate shall be destroyed
unless either (a) the Trustees shall unanimously agree that the
continued preservation of such portion of the Substantive Estate
is no longer required for accomplishing the purposes for which the
Foundation is created or (b) the Trustees are prevented from preserving
such portion of the Substantive Estate by reason of circumstances
beyond their control.
5.3. TRANSFER OF SUBSTANTIVE ESTATE:
The Trustees shall have the power to transfer all or any part
of the Substantive Estate, except three (3) copies of the original
text of The Urantia Book and the replacements thereof, to
any organization, trust, corporation, institution, or entity of
any kind which shall have been created by the Trustees and subject
to their control, but only upon the condition that the portion of
the Substantive Estate so transferred shall be returned to the Trustees
when the purposes for which it was transferred have been fulfilled.
ARTICLE VI GENERAL FISCAL POWERS
6.1. GENERAL POWERS: Subject
to the provisions of Article V, the Trustees shall have the power
to own, hold, manage, control, operate, care for, protect, and preserve
the Trust Estate, and to collect and receive the income and profits
therefrom, and the increments thereof, and to make contracts with
respect to the Trust Estate or any portion thereof, and to bind
the Trust Estate therefor, and to apply and use all or any part
of the Trust Estate to effectuate the objects of the Foundation,
all in accordance with the sole discretion and judgment of the Trustees.
6.2. PRINCIPAL AND INCOME: The
Trustees shall have the power to determine, from time to time, whether
or not there shall be any division of the Subservient Estate between
"principal" and "income" and to determine what
is "principal" and what is "income"; and in
any instance in which it may be material, necessary, or desirable,
the Trustees shall have the power, in their sole discretion and
judgment, to determine how all receipts and disbursements shall
be credited, charged, apportioned, accrued, or otherwise divided,
prorated, or accounted for as between principal and income or as
between separate funds or accounts; and the decision of the Trustees
in all such cases shall be final.
6.3. REAL ESTATE: The Trustees
shall have power, either (a) for the purpose of carrying out of
the objects of the Foundation or (b) for investment or reinvestment
of the Subservient Estate: To purchase or otherwise acquire improved
and unimproved real estate, or any interest or division of interest
therein, wherever situated, both within the continental United States
of America and outside thereof; to lease any real estate at any
time for any period of time and upon such terms and conditions as
the Trustees, in their sole discretion and judgment, shall consider
proper or appropriate; to erect improvements of any kind on real
estate owned by or leased to the Foundation, to make alterations
and additions thereto, and to keep such improvements upon such real
estate, or any part thereof, insured and in good repair to such
extent as the Trustees may deem advisable; to grant easements or
charges of any kind upon or against such real estate; to make contracts
or arrangements for party walls or in relation thereto; to let or
otherwise put out at rental any such parcels of real estate upon
such terms and conditions and for such rental as the Trustees, in
their sole discretion and judgment, shall deem appropriate and proper;
and to release, convey, or assign any right, title, or interest
in or to such real estate or any part or portion thereof or interest
therein, freed and released of and from the trusts herein imposed,
upon such terms and conditions and for such considerations, or for
no consideration, as the Trustees, in their sole discretion and
judgment, shall consider proper or appropriate.
6.4. TANGIBLE PERSONAL PROPERTY:
The Trustees shall have the power either (a) for the purposes
of carrying out the objects of the foundation or (b) for investment
or reinvestment of the Subservient Estate: To purchase or otherwise
acquire tangible personal property of all kinds and descriptions
wheresoever located both within the continental United States of
America or outside thereof; to sell, exchange, or otherwise dispose
of, from time to time, freed and released of and from the trusts
herein imposed, any or all of such tangible personal property for
such prices and upon such terms and conditions as the Trustees,
in their sole discretion and judgment, shall consider necessary
or appropriate; to apply, use, and consume such tangible personal
property as the Trustees, in their sole discretion and judgment,
shall deem necessary and appropriate for carrying out the objects
of this Foundation.
6.5. SECURITY INVESTMENTS: The
Trustees shall have the power, and are authorized, to invest and
reinvest any portion or all of the Subservient Estate in bonds,
stocks, mortgages, or other securities as the Trustees, in their
sole judgment and discretion, shall deem proper and appropriate;
and in making such investments, the Trustees shall not be restricted
to investments prescribed by the statutes or laws of the United
States of America, of any state or territory of the United States
of America, of any foreign country or sovereign, which may be in
force from time to time with respect to the investment of trust
funds or diversification of investment of trust funds; but the Trustees
shall have the right to invest in such stocks, bonds, debentures,
and other investments, listed or unlisted, as the Trustees may deem
suitable for investment, notwithstanding any such statutes or laws
regarding investment and the diversification of investments by Trustees;
and the Trustees shall have the right to invest and reinvest in
securities, investments, or other property when the right to acquire
the same by purchase, subscription, conversion, or otherwise arises
out of, or by virtue of, or as an incident to, any securities, investments,
or other property at any time held by the Trustees.
6.6. VOTING POWERS--SECURITIES OF
BUSINESS ORGANIZATION: The Trustees shall have full power and
authority to vote any shares of capital stock or other securities
of any corporation, business trust, or other business association,
and all such shares of stock owned by the Trustees may be voted
by any one or more of the Trustees present at any meeting when votes
are taken, provided they have proxies from a majority of the Trustees;
they shall have full power and authority to vote, either in favor
of or against any reorganization, consolidation, merger, or dissolution
of any corporation, business trust, or business association, shares
of stock or other securities of which are held in the Subservient
Estate, and to enter into agreements with reference to the reorganization,
consolidation, merger, or dissolution of any such corporation, business
trust, or other business association; also, to consent to the sale
of the property of, or the readjustment of the finances of, any
such corporation, business trust, or other business association;
and to do and to perform any act with reference to such securities
or shares of capital stock, necessary, proper, or convenient in
connection with any such proposed reorganization, consolidation,
readjustment, or sale; and in case any of the securities or shares
of capital stock so forming part of the Subservient Estate at any
time shall contain a right, option, or privilege to the holders
thereof to convert the same into other securities or shares of capital
stock, or in case the right, option, or privilege shall be given
to the holders of such securities or shares of capital stock to
subscribe for additional securities or shares of capital stock,
the Trustees are authorized and empowered, in their discretion,
to exercise such options, rights, and privileges, from time to time,
and to make payment therefor and to hold such securities or shares
of capital stock so acquired as investments of the Subservient Estate.
6.7. POWER TO BORROW: The Trustees
shall have the power to borrow money for the purpose (a) of carrying
out the objects of the Foundation, (b) of improving, altering, or
maintaining any real estate, or parcel thereof, owned or leased
by the Trustees, (c) of protecting or preserving the Trust Estate
or any part or portion thereof, (d) of investment, or (e) for such
other purposes as the Trustees, in their sole discretion and judgment,
shall consider proper and appropriate for carrying out any of the
powers granted to the Trustees under the terms of this Declaration
of Trust; and in borrowing such money, the Trustees shall have the
power to fix the terms of any such loans and to mortgage, pledge,
or hypothecate the Subservient Estate, or any part or portion thereof,
as security for the payment of the principal and interest of all
or any of such loans.
6.8. POWER TO LOAN: The Trustees
shall have power to loan money to any institution, organization,
corporation, fund, or group of persons created or organized for
purposes in accord and harmonious with, or supplemental to, the
objects of the Foundation; and in making such loans, the Trustees
shall fix the terms of such loans and may require, or may not require,
security for the payment of the principal and interest of such loans.
All such loans shall be used and applied solely for the purpose
of carrying out the objects for which the Foundation is created.
6.9. NOMINEES: The Trustees
shall have and hereby are given full power and authority to appoint
individual or corporate nominees for the sole purpose of holding
title to any securities belonging to the Subservient Estate, so
that the transfer of said securities and the execution of proxies,
contracts, and similar documents relating to the exercise of powers
and rights under the terms of such securities may be facilitated.
If any such nominee or nominees be appointed, they shall deal with
such securities only upon the instructions of the Trustees and shall
be vested with no independent power or authority over, or pertaining
to, any such securities or over, or pertaining to, any rights incident
to the ownership of such securities.
6.10. SUBSIDIARY AND AFFILIATED
CORPORATIONS: The Trustees shall have the power to form and
organize, or cause to be formed and organized, under the laws of
the United States of America or under the laws of any state or territory
of the United States of America or under the laws of any foreign
country or sovereign, such corporations or associations, for profit
or not for profit, as the Trustees, in their sole discretion, shall
consider appropriate, expedient, or useful for carrying out, or
for assisting in carrying out, the objects of the Foundation and
for any matters or things incident thereto, and for holding, managing,
operating, using, investing, or placing to profit any part or portion
of the Subservient Estate; and such corporations shall have such
powers, names, and organizations as to the Trustees shall seem appropriate.
The Trustees may transfer and deliver to such corporations or associations,
or one or more of them, title to, and the possession, custody, management,
and operation of, any portion or all of the property of the Subservient
Estate; and any and all such corporations or associations shall
thereupon become the complete legal owners thereof with full and
complete power to invest and reinvest, to sell, transfer, assign,
exchange, or otherwise dispose of, to let or otherwise put to profit,
to mortgage, pledge, or otherwise encumber or charge the property
so transferred to such corporation or association, free and clear
of this trust and of all equities therein, the same as if said property
had not been part of the Trust Estate. The net income or net profits,
if any, which may result from the activities of any such corporation
so organized by the Trustees shall be paid over to, or held by any
and all such corporations or associations subject to the direction
of, the Trustees for accomplishment of the objects herein expressed.
The Trustees shall at all times retain control of such corporations
and associations either by confining membership therein to their
own number or by holding or otherwise controlling all shares therein,
except the qualifying shares. In no case shall any purchaser, pledgee,
mortgagee, or holder of any other encumbrances given or created
or suffered to be created by any such corporation be obliged to
see to the application of moneys paid to him and any receipt or
discharge given by any such corporation, or its duly authorized
officer or officers, shall be a full and complete receipt or discharge
to the person receiving the same. Subject to the provisions of Article
V, the Trustees may entrust to any such corporation or association,
or any one or more of them, plates or other media for the printing
and reproduction of The Urantia Book and the printing, publishing,
and sale of The Urantia Book.
6.11. ANCILLARY TRUSTEE: The
Trustees, whenever and so often and for such periods of time as
they may deem it necessary or advantageous so to do, shall have
power, with full power of revocation, to appoint one or more persons
or trust companies, or a combination of one or more persons and
one or more trust companies, as ancillary trustee or trustees (hereinafter
referred to collectively as "ancillary trustee") as to
all or any part of the Trust Estate, and to transfer and deliver
to such ancillary trustee the Trust Estate or any part or portion
thereof for the administration, management, or safekeeping thereof;
but such appointment shall be for a defined period of time, and
such ancillary trustee as to all or any part of the Trust Estate,
as the case may be, shall have all the rights, powers, duties, and
discretions conferred upon the Trustees hereunder, to be exercised,
however, in accordance with any limitation herein contained or which
may be imposed in the instrument of appointment. If the Trustees
shall reserve power of direction over the activities, or any portion
thereof, of such ancillary trustee, the ancillary trustee shall
not be responsible in any way if such directions are followed. Upon
the expiration of the period for which such ancillary trustee is
appointed or upon the revocation of such appointment, the ancillary
trustee shall return to the Trustees hereunder all the Trust Estate
in the hands of such ancillary trustee at the time of said termination
or revocation: and a receipt or release from the Trustees hereunder
to such ancillary trustee shall discharge such ancillary trustee
from all responsibility in connection with their acts as such ancillary
trustee in the administration, preservation, management, or safekeeping
of the Trust Estate transferred to such ancillary trustee. An ancillary
trustee appointed as in this paragraph provided shall not be under
any obligation to require any accounting from the Trustees hereunder
and shall not be responsible in any way for any acts of the Trustees,
whether before or after the appointment of the ancillary trustee.
The instrument of appointment of such ancillary trustee and any
revocation thereof shall be filed for record as provided in paragraph
9.1.
6.12. ADDITIONAL TRUSTEES: The
Trustees shall have and are hereby given full power and authority
to appoint any one or more persons or trust companies, or any combination
of one or more persons and one or more trust companies, as additional
trustee or trustees for the purpose of holding title to any real
estate comprising part of the Subservient Estate. If such additional
trustee or trustees shall be necessary, then the Trustees hereunder
may confer upon and vest in any such additional trustee or trustees
so appointed such powers and authority as the Trustees hereunder
may deem advisable or necessary; provided, however, that the net
income derived from any such real estate or other property, and
the net proceeds arising from any sale thereof, shall be paid over
by any such additional trustee or trustees then acting with reference
to such real estate, to the Trustees, and shall be held and applied
by the Trustees pursuant to the terms hereof. The instrument of
appointment of such additional trustee or trustees shall be filed
for record as provided in paragraph 9.1.
6.13. OPERATION OF BUSINESS ENTERPRISES:
The Trustees shall have power to initiate, organize, and acquire
and to maintain, continue, and operate, at the risk of the Subservient
Estate and not at the risk of the Trustees, individually, any business
enterprise which they may initiate, organize, or acquire, or which
may be given, devised, or bequeathed to the Foundation, or to the
Trustees thereof, or to sell, exchange, or otherwise dispose of
the whole or any part of such business enterprise, on such terms
and for such consideration as the Trustees shall deem desirable,
proper, or appropriate. The Trustees may initiate, organize,
continue, and operate any such business enterprise under such name
and style and in such place or places as the Trustees, in their
sole discretion and judgment, shall deem proper or appropriate.
All the net income and net profits, if any, from any such business
enterprise shall be paid over to, or held by such business enterprise
subject to the direction of, the Trustees for the accomplishment
of the objects herein expressed.
6.14. SETTLEMENT OF CLAIMS: The
Trustees shall have power to adjust, compromise, settle, or forgive
any claims for or against the Foundation, the Trust Estate, or the
Trustees, upon such terms and conditions as the Trustees, in their
sole discretion and judgment, shall consider proper and appropriate.
6.15. LITIGATION: The Trustees
shall have the power in their names, as Trustees, or in the name
of Urantia Foundation, to sue in any court of law or equity to protect
or enforce any rights or interests of the Trustees in or related
to or in any way connected with any of the Trust Estate or any part
thereof or interest therein, the same as if they were the private
and individual owners thereof, and to protect and enforce their
rights to any gift, devise, bequest, or legacy, and to defend any
suit against them as Trustees or against the Foundation or against
any of the Trust Estate.
6.16. CUMULATIVE POWER AND AUTHORITY:
The Trustees shall have full power to bind the Trust Estate
without making themselves personally liable, and to do and perform
any and all other acts which they may deem proper or appropriate
for carrying out the objects for which the Foundation is created;
and in general, subject to the limitation that the Trust Estate
and the income therefrom and increments thereof shall be devoted
to the objects for which the Foundation is created, the Trustees
shall have every power and authority over the Trust Estate that
they would have if, as individuals, they were jointly the absolute
and unqualified owners thereof, and the enumeration of specific
or special powers shall not be construed to limit or restrict the
general powers and authority herein conferred by, or reasonably
inferred from, the other provisions of this Declaration of Trust.
None of the powers herein granted shall be exhausted by the exercise
thereof but shall be continuing powers and may be exercised from
time to time and as often as the Trustees, in their sole discretion
and judgment, shall deem necessary, proper, or appropriate.
6.17. RIGHTS OF THIRD PARTIES:
No purchaser, contractee, lessee, mortgagee, pledgee, or holder
of any contract, obligation, or encumbrance shall be obligated to
see to the application of the purchase moneys, rents, moneys borrowed
or advanced upon or against the Trust Estate, or other moneys paid
to the Trustees, or be obligated to see that the terms of this Declaration
of Trust have been complied with, or be obligated to inquire into
the necessity or expediency of any acts of the Trustees.
6.18. PAYMENT OF EXPENSES: The
Trustees are authorized and empowered to pay all necessary and proper
taxes, costs, charges, fees, and expenses in connection with the
trust and the administration thereof, including the payment of fees
to attorneys and agents employed by the Trustees from time to time
and the payment of fees to ancillary trustees and additional trustees
appointed pursuant to the powers herein granted and conferred.
ARTICLE VII TRUSTEES AND GOVERNMENT
OF Urantia Foundation
7.1. BOARD OF TRUSTEES: The
Foundation and the Trust Estate shall be managed by a Board of Trustees
to be comprised of the Trustees and their successors in trust.
7.2. TRUSTEES: Trustees as used
herein means the undersigned and their successors in trust who shall
be known and described as the ''TRUSTEES OF Urantia Foundation."
The Trustees shall serve without compensation.
7.3. APPOINTMENT OF SUCCESSOR TRUSTEES:
Whenever any vacancy shall occur in the number of the Trustees
by death, resignation, permanent disability, or removal, the remaining
Trustees, by a majority vote, shall elect a successor to fill such
vacancy, and thereupon shall execute a certificate under the hands
and seals of a majority of said remaining Trustees certifying to
the due election of such successor; and said certificate shall be
filed for record as provided in paragraph 9.1.
7.4. TRUSTEE EMERITUS: In the
event of the permanent disability of any Trustee, which shall be
evidenced by the certificate of a competent physician, or in the
event of the resignation of any Trustee, which may be done by delivering
to any one of the other Trustees a writing stating his resignation,
a vacancy shall be deemed to exist in the number of the Trustees.
Any person who shall have been a Trustee hereunder and who shall
become permanently disabled or who shall have resigned may, if he
be willing, be made a TRUSTEE EMERITUS OF Urantia Foundation by
a majority vote of the remaining Trustees, certified to under the
hands and seals of said remaining Trustees, and tiled for record
as provided in paragraph 9.1. A Trustee Emeritus shall have no rights,
duties, or powers hereunder, but the name shall be given such person
only as an expression of appreciation of his past services as trustee.
7.5. REMOVAL OF TRUSTEE: Any
Trustee may be removed for any reason by a unanimous vote of the
remaining Trustees, and upon the casting of such a unanimous vote
of the remaining Trustees, they shall thereupon execute a certificate
under the hands and seals of said remaining Trustees certifying
to the casting of such vote and to the removal of such Trustee,
and the same shall be filed for record as provided in paragraph
9.1. Upon the execution and recordation of such certificate, a vacancy
in the number of Trustees shall be deemed to exist.
7.6. BY-LAWS: The Trustees shall
adopt by-laws, not inconsistent with the provisions of this Declaration
of Trust, for the government of the Foundation and of the acts and
procedures of the Trustees, which by-laws shall provide, among other
things, (a) for officers consisting of a President, one or more
Vice Presidents, a Secretary, and a Treasurer, the latter two of
which need not be Trustees, (b) for the definition of the powers
and duties of such officers, (c) for the election of such officers
and for filling vacancies in such offices, (d) for the regular meetings
of the Trustees, (e) for the adoption of a seal, and (f) for the
amendment and change of such by-laws, from time to time, by the
unanimous action of all the Trustees.
7.7. ACTION BY MAJORITY: Except
as otherwise provided in this Declaration of Trust, the Trustees
shall have the powers to act by a majority of their number as from
time to time constituted, and the Trustees shall keep and preserve
full minutes and other records of all their meetings, proceedings,
and acts, and any Trustee dissenting from the majority of the Trustees
shall have the right to have his dissent noted in such minutes or
other record.
ARTICLE VIII FUTURE ADDITIONS TO
TRUST
8.1. ACCEPTANCE OF ADDITIONS REQUIRED:
No money or property may be added to the Trust Estate, and become
subject to the trusts herein imposed, by a gift, grant, devise,
or bequest unless the money or property so given, granted, devised,
and bequeathed shall have been accepted and received by the Trustees.
8.2. GIFTS WITHOUT LIMITATION: The
Trustees shall have the power in their sole discretion to accept
and receive and to reject, gifts, grants, bequests, or devises of
money or property to be devoted to aiding or accomplishing the fulfillment
of the objects herein expressed. Any money or property conveyed,
assigned, transferred, delivered, devised, or bequeathed to Urantia
Foundation or to the TRUSTEES OF Urantia Foundation, without in
either case making reference to this Declaration of Trust or to
the objects of the Foundation, shall be construed as additions to
the Subservient Estate and subject to the trusts herein imposed
when accepted by the Trustees.
8.3. LIMITED GIFTS: The Trustees,
in their discretion, may accept and receive gifts, devises, and
bequests to Urantia Foundation or to the Trustees, to be used and
applied for a limited or restricted purpose, if, in the sole discretion
and judgment of the Trustees, such limited and restricted purposes
are in accord and harmonious with the objects of the Foundation
as herein expressed. Each such gift, devise, or bequest, and any
additions thereto, if accepted by the Trustees, shall be kept and
maintained as a separate property or fund and applied for the limited
or restricted purposes for which it was made, but the Trustees shall
have and exercise with respect thereto the same powers as are herein
granted with respect to the Subservient Estate.
ARTICLE IX MISCELLANEOUS
9.1. RECORDING OF INSTRUMENTS:
All instruments which are required to be filed for record under
the terms and provisions of this Declaration of Trust shall be filed
for record in the Recorder's Office of Cook County, Illinois, and
such other places as may be required by law because or by reason
of the nature of the instrument. In the event that for any reason
any such instruments cannot be filed for record in said Recorder's
Office of Cook County, Illinois, or in any other public office subsequently
designated pursuant hereto, the Trustees shall, by instrument in
writing, designate another public office where instruments in the
nature of those herein required to be filed of record may be filed,
and shall file such instrument of designation with such public office;
and thereafter all instruments required to be filed for record shall
be filed in such public office. Any instrument, when filed for record
pursuant to this paragraph, shall be conclusive evidence of the
facts therein stated.
9.2. COURT AUTHORITY NOT REQUIRED:
All powers and authority herein granted to and conferred
upon the Trustees may be exercised in the manner herein provided
without application to any court for leave or confirmation.
9.3. This Declaration of Trust
shall be filed for record as provided in paragraph 9.1.
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