(110 ILCS 30/3) (from Ch. 144, par. 15)
Sec. 3.
Upon the issuance of a certificate of incorporation and the
recording of the same and the articles of incorporation as herein required,
said corporation shall be deemed fully organized, and may proceed to carry
out its corporate purposes, and to receive by conveyance or transfer from
the trustees under such will, deed or other instrument the property thereby
provided as aforesaid for the endowment of such educational institution and
may hold the same in whatever form it may have been conveyed by or received
from said trustees until such form shall be changed by the legal act of said
corporation.
(Source: Laws 1949, p. 1613.)
|