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PUBLIC ACTS

OF

THE LEGISLATURE

1923

PUBLIC ACTS

[No. 1.]

AN ACT to amend act number seventy-nine of the public acts of nineteen hundred seven, entitled "An act to amend an act, entitled 'An act amendatory to the several acts in relation to the Wesleyan seminary at Albion and the Albion female collegiate institute,' approved February nine, eighteen hundred fifty-seven," by repealing sections nine, ten, eleven and twelve thereof, being sections eleven thousand eighty-two, eleven thousand eighty-three, eleven thousand eighty-four and eleven thousand eighty-five of the compiled laws of nineteen hundred fifteen, by renumbering section thirteen, being section eleven thousand eighty-six of the compiled laws of nineteen hundred fifteen, so as to read section nine, and by adding thereto a new section to stand as section five-a.

The People of the State of Michigan enact:

SECTION 1. Act number seventy-nine of the public acts Act of nineteen hundred seven, entitled "An act to amend an act, amended. entitled 'An act amendatory to the several acts in relation to the Wesleyan seminary at Albion and the Albion female collegiate institute,' approved February nine, eighteen hundred fifty-seven," is hereby amended by repealing sections nine, ten, eleven and twelve thereof, being sections eleven thousand eighty-two, eleven thousand eighty-three, eleven thousand eighty-four and eleven thousand eighty-five of the compiled laws of nineteen hundred fifteen, by renumbering section thirteen, being section eleven thousand eighty-six of the compiled laws of nineteen hundred fifteen, so as to read section nine, and by adding thereto a new section to stand as Section section five-a, and to read as follows:

added. SEC. 5-a. The said board of trustees shall be the custodians Custodians of endowment of the endowment fund of said college and shall control the fund. investment of the funds held for endowment purposes, whether general or special. Said board, in its management of said funds, may employ committees, individuals, banks, trust companies or other agents and may fix the compensation to be paid for services and the guaranties to be required. This act is ordered to take immediate effect. Approved February 16, 1923.

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