Section 64G: Establishment of other trust funds; assent to federal laws; contracts and agreements
155 words·~1 min read·
/ma/part-i/title-xvi/chapter-111/64g·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 64G. The trustees may from time to time establish other trust funds. In the use, management, and administration of gifts or other monies held in trust, the trustees or their agents shall in their discretion so act as most effectively to aid the beneficiaries in accordance with the terms of such gift or trust. Any unrestricted balances remaining in a trust fund upon its termination shall be transferred to the general trust fund and used for the purposes authorized for the general trust fund.
The trustees shall have the authority to assent to federal laws designed to benefit the hospital and to enter into contracts or agreements with the federal government or agencies thereof, as well as into contracts or agreements with agencies of other governments, colleges or university foundations, corporations, interstate compact agencies and individuals where such contracts or agreements, in the judgment of the trustees, will promote the objectives of the hospital.