LA 100

2020 -- H 7555 Enacted 12/26/2020

A N   A C T

RELATING TO AN AMENDMENT OF AND IN ADDITION TO AN ACT ENTITLED "AN ACT TO INCORPORATE THE FIRST HOPKINTON CEMETERY ASSOCIATION," PASSED AT THE JANUARY SESSION, A.D. 1880, AS AMENDED

Introduced By: Representatives Kennedy, Azzinaro, and Price

Date Introduced: February 12, 2020

It is enacted by the General Assembly as follows:

SECTION 1. Sections 2, 3, 4, 5 and 7 of an act entitled "An act to incorporate The First

Hopkinton Cemetery Association," passed at the January session A.D. 1880, as amended at the

January sessions A.D. 1905 and 1974, are hereby amended so as to read as follows:

Sec. 2. Said corporation may take, hold, transmit and convey real and personal property

to an amount not exceeding ten thousand dollars, and for the purpose of the said cemetery may

take and hold land not exceeding twenty acres.

Section 1. The First Hopkinton Cemetery Association located in the town of Hopkinton,

Rhode Island, a non-business corporation incorporated March 4, 1880, is hereby authorized and

empowered to take, hold, transmit and convey real and personal estate to an amount not

exceeding two hundred fifty thousand dollars ($250,000), so long as said estate is used for the

non-business purposes of said corporation.

Sec. 2. The First Hopkinton Cemetery Association located in the town of Hopkinton,

Rhode Island, a non-business corporation incorporated March 4, 1880, is hereby authorized and

empowered to take, hold, transmit and covey real and personal property, money or investments in

an unlimited amount as allowed by state statute, so long as said estate is used for the non-business

purposes of said corporation. Said corporation may also take and hold land in an amount of

acreage as the trustees deem necessary or reasonable.

Sec. 3. All money or property received by the said corporation, for and as an endowment

fund, shall be forever kept safely invested at interest, in some savings bank or banks, or in some

trust company or companies, chartered by the state of Rode Island, or in bond or mortgage in

unencumbered improved real estate in the state of Rhode Island on which taxes are paid on a

valuation of at least twice the amount loaned thereon. If the endowment fund shall at any time

become diminished, the trustees shall each year thereafter set apart one-half the income from said

fund, which shall be added to said fund until it shall have reached the maximum amount to which

it may have attained. The income of the endowment fund, except as before provided, shall be

used only to keep the cemetery grounds and inclosures in good order.

Sec. 3. All money or property received by the said corporation, for and as an endowment

fund, shall be forever kept invested at the discretion of the Board of Trustees in some savings

bank or banks or in some trust company, mutual funds, stocks, bond investments or CDs and

money market accounts, which pay interest, dividends and/or capital gains in some savings bank

or banks or in some trust company chartered by the state of Rhode Island, or investment

companies allowed by law to do business in the state of Rhode Island. If the endowment fund

shall at any time become diminished, the trustees shall each year thereafter set apart one-half

(1/2) of the income from said corporation which shall be added to said fund until it shall have

reached the maximum amount to which it may have attained. The income of the endowment fund,

except as before provided, shall be used only to keep the cemetery grounds and enclosure in good

order.

Sec. 4 The corporate rights and franchises of the said corporation shall be duly vested in a

board of trustees consisting of five persons, two of whom shall be the pastor and church clerk of

"The First Seventh Day Baptist Church, of Hopkinton," and who shall be ex officio members of

the said board, together with three others who shall be elected at the first meeting called for said

purpose after the passage of this act, to hold the said trusteeship for one, two and three years

respectively, and until their successor or successors shall have been duly elected and shall have

accepted the office. And that thereafter at each annual meeting of the said association, an election

for one trustee shall be held to serve for three years and until his successor shall have been duly

elected and shall have accepted the office. No trustee shall receive compensation for his services

as trustee, nor for personal expenses incurred for attending meetings of the board. The board of

trustees shall meet at least once each year and shall make and publish an annual report, stating

their receipts and expenditures and an account of their doings for the year.

Sec. 4. The corporate rights and franchises of the said corporation shall be duly vested in

a board of trustees consisting of seven persons, to hold the said trusteeship for one, two, three,

four, five, six and seven years respectively, and until their successor or successors shall have been

duly elected and shall have accepted the office. No trustee shall receive compensation for his

services as trustee nor for personal expenses incurred for attending meetings of the board. The

board of trustees will meet at least once each year and shall make and publish an annual report,

stating their receipts and expenditures and an account of their doing for the year.

Sec. 5. Said trustees shall appoint from their own number a president, and a treasurer,

assistant treasurer, secretary and superintendent who shall also act as secretary. They shall also

fill vacancies occurring in their own body. They shall have full and entire management and

control of the business and property of the corporation, and make such improvements as may be

required for the maintenance of such cemetery. They shall make such bylaws as they may deem

proper for the government of the corporation, and shall have power to alter and amend the same

from time to time as may be required. An annual meeting of said corporation shall be held at such

time and place as the by-laws bylaws shall direct, but the validity of this charter shall not be

impaired by the omission to hold the annual meeting.

Sec. 7. All conveyances and transfers of lots in said cemetery made by the corporation or

by owners of lots shall be by deed, such deed from the corporation shall be executed by the

superintendent or treasurer, and all deeds shall be recorded in a book kept by him him/her for that

purpose.

SECTION 2. This act shall take effect upon passage.

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