Page:United States Statutes at Large Volume 34 Part 1.djvu/836

 806 FIFTY-NINTH CONGRESS. Sess. I. Ch. 3929. 1906. B°¤*‘* °*°*’°°°°”· The board of directors shall consist of a president, the first vicepresident, the secretary, the treasurer, the chairman of the board of trustees, and one additional member from each State, Territory, or District, to be elected by the active members for the term of one year, or until their successors are chosen, and of all life directors of the m°"‘°‘“°°"· National Educational Association. The‘United.States Commissioner of Education, and all former presidents of the said association now livin, and all future presidents of the association hereby incorporatecf at the close of their res ctive terms of office, shall be members P°"°” °‘ "°"d· of the board of directors forlde. The board of directors shall have power to fill all vacancies in their own body; shall have in charge the general interests of the corporation, excepting. those herein intrusted to the board of trustees, and shall possess suc other powers as shall _ be conferred upon them by the by—laws of the corporation. m]$‘°°“*l'° °°“"'“" The executive committee shall consist of five members, as follows: The resident of the association, the first vice—president, the treasurer, the chairman of the board of trustees, and a member of the association, to be chosen annually by the board of directors, to serve one year. The said committee shall have authority to represent and to act for the board of directors in the intervals between the meetings of that body, to the extent of carryin out the legislation adopted by the board of directors under general Trections as may be given by said board. B°°"’ °‘ *'““‘°°”· The board of trustees shall consist of four members, elected by the board of directors for the term of four years, and the president of the association, who shall be a member ex officio durin his term of office. At the iirst meeting of the board of directors, held during the annual meeting of the association at which they were elected, they shall elect V"°‘“‘°*°'· one trustee for the term of four years. All vacancies occurring in said board of trustees, whether by resignation or otherwise, shall be filled by the board of directors for the unexpired term ; and the absence · e` of a trustee from two successive annual meetings of the board shall forfeit his membership. m*;°f,[,“;Q,';$,';§ fg3Q;? Sec. T. That the invested fund now known as the "Permanent fund riennl Association. of the National Educational Association," when transferred to the corporation hereby created, shall be held by such corporation as a permanent fund and shall be in charge of the hoard of trustees, who shall provide for the safe-keeping and investment of such fund, and of all other funds which the corporation may receive by donation, bequest, pe*,’;$§}{*,§Q°“ °“ °°" or devise. No part of the principal of such permanent fund or its accretions shall be expended, except by u two-thirds vote of the active members of the association, resent at any annual meeting, upon the recommendation of the board) of trustees, after such recommendation has been approved by vote of the board of directors, and after printed notice of t c proposed ex nditure has been mailed to all active mem- U°° °"“°°‘“°· bers of the association. The income of the permanent fund shall be used only to meet the cost of maintaining the organization of the association and of publishing its annual volume of proceedings, unless the terms of the donation, bequest, or devise shall otherwise specif *, P¤v¤¤·>¤¢<>fb*¤¤- or the board of directors shall otherwise order. It shall also be the duty of the board of trustees to issue orders on the treasurer for the payment of all bills approved by the board of directors, or by the president and secretary of the association acting under the authority p,f1;jf1=g,*_;f¤° °‘ **¤'· of the board of directors. When practicable, the board of trustees shall invest, as (part of the permanent fund. all surplus funds exceeding five hundrc dollars that shall remain in the hands of the treasurer after pnymv the expenses of the association for the previous year. and providing for the lixed expenses and for all appropriations made by the board of directors for the ensuing year. “°°“’*“’Y· The board of trustees shall elect the secretary of the association, who shall also be secretary of the executive committee, and shall fix