Powers, Functions, Rights and Duties of the Trustees
The powers, functions, rights and duties of the above said trustees shall be as under:
- Without effecting the generality of powers and duties and functions of the trustees to manage and administer the trust, The Board of Trustees shall have the following functions:
- To borrow if needed be against the security or the assets of the trust by way or bank over drafts loan or otherwise, as may be necessary, for the benefits of the trusts provided, however, the trustees unanimously agreed on such borrowing and limits to the terms of this decision or agreement and or authorize two or more of the trustees to execute such documents, deed, papers., etc. and as may be necessary in connection the Trust.
- To arrange for and/or authorize the signing or execution of any agreement, contract, installment, document or any other paper in writing require to be signed or executed on behalf of the trustees by any two of the trustees to be nominated in this behalf by the Board of Trustees & with the consent of the settler and to make the same effective and binding as if the agreement of contracts instrument or documents or papers or writing were signed by all the trustees.
- To appoint or make provision for the appointment of a sub Committee of Trustees and/or others to attend or to supervise or conduct specified jobs or functions of the trust matters in such manners and subject to such Rules and Regulations as The Trustees may prescribed.
- To authorize any one or more Trustees to hold any property or any fund or any investment of the Trust subject, however, to the terms of these presents in such manners and subject to such terms and conditions, Rules and Regulations as the Board of Trustees may from time to time make as they think fit and proper.
- To spend any portion of the corpus fund or the income of the trust for purchasing any land or construction any or building for the Trust.
- Trustees shall have full powers to determine the programs of the Trust by organizing, suggesting, or by adopting or rejecting the proposals from the public and may delegate any of the powers of professionals or administrative staff whose reports of and activities shall be arranged to be received periodically to control and to give guidance in this regard thereto.
- The Trustees shall have powers from time to time to make and alter or amend the Rules and Regulations if needed, with the consent of the settler, so made this regard of which any power or duty is vested in them, as they may think fit and proper.
- The Trustee may appoint advocates, secretaries, Engineers, Surveyors, or other employees for the purpose of management and supervision of the Trust estate, funds for collection of rents, effects and profits, for keeping the account and records and for other purposes of the Trustee.
- The Trustees shall have full power to compromise or compound all actions, suits, and other proceedings and settle difference and disputes touching the trust estate(s)and /or the trust properties and to refer any such differences, disputes to arbitration and to adjust and settle all accounts relating to the trust estate and/or the trust properties and to do all other acts and things fully and effectually without being liable or answerable for any bonafide losses occasioned thereby.
- The veto of the majority of the members shall prevail and in the event of tie, the chairman of the meeting shall have the power of casting of his/her vote.
- Any Resolution passed by the 2/3rd majority of the present trustees, with the consent of the settler for the benefits and the same shall be prevail and applicable to the members.
- A person shall cease to be trustee, in case, if he/she dies or if becomes bankrupts or becomes in same or otherwise incapable to act or if any trustee or trustees resigns from his/her/their, or removed by the Board of Trustees with the consent of the said settler, by 2/3rd majority, shall be removed from his/her office.
- If any one or more of the objects specified herein these presents are held not to be objects of a public charitable nature the trustees shall not carry out such objects or object as if the same are not incorporated in these present but the validity of the trust created by these presents as a trust shall not be affected in any manner.