Chapter CIII. to incorporate the Institution for the Education of Colored Youth in the District of Columbia
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Chap. CIII.— An Act to incorporate the Institution for the Education of Colored Youth in the District of Columbia.March 3, 1863. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,* That“The Institution for the Education of Colored Youth” incorporated. Henry Addison, John C. Underwood, George C. Abbott, William H. Channing, Nancy M. Johnson, of the District of Columbia, and Myrtella Miner, of California, and their associates and successors, are hereby constituted and declared to be a body politic and corporate, by the name and title of “The Institution for the Education of Colored Youth,” to be located in the District of Columbia;Objects. the objects of which institution are to educate and improve the moral and intellectual condition of such of the colored youth of the nation asName and power. may be placed under its care and influence, and by that name shall have perpetual succession, with power to sue and be sued, to plead and be impleaded in any court of the United States, to collect subscriptions, make by-laws, rules and regulations, as may be needful for the Government of said institution, and the same to alter, amend, and abrogate at pleasure;Common seal. to have a common seal, the same to break, alter, and renew at will;Officers. to appoint such officers as may be required for the management of the institution, and to assign them their duties, and generally to provide for the transaction of all business appertaining to said institution.
And the by-laws,By-laws.Proviso. rules, and regulations which may be so adopted, shall be as valid as if they were made a part of this act: *Provided,* They shall notTHIRTY-SEVENTH CONGRESS. Sess. III. Ch. 103, 104. 1863.797 be inconsistent herewith, nor repugnant to the laws of the District of Columbia. Sec. 2. *And be it further enacted,* ThatReal estate and other property. said corporation may have, hold, and receive, for the purposes of said institution and for no other, real, personal, and mixed estate, by purchase, gift, or devise, not to exceed one hundred thousand dollars; to use, lease, sell, or convey the same for the purposes and benefit of said institution;Teachers. may appoint such teachers as may be necessary, and fix their compensation.
Sec. 3. *And be it further enacted,* ThatLimit of corporate powers. said corporation shall not be engaged in any banking or commercial business, nor shall it issue any note, check, or other evidence of debt intended to be used as a circulation;This act may be altered or repealed. and Congress may have the right to alter or repeal this act at any time hereafter. Approved, March 3, 1863.