241 - Devises and bequests. - New York Statutes

§ 241. Devises and bequests. Any unit of the organized militia may take by devise and bequest real and personal property for its uses and purposes as a military organization, and may hold, mortgage, sell or otherwise dispose of the same. The title to such property shall vest in the commissioned officer or officers of the unit and if there be three or more of such officers the property shall be managed by their majority vote and disposed of by their two-thirds vote. Organizations of the veterans of such units and/or their predecessor units in the organized militia, in cases where the designation of the corresponding unit in the organized militia has been changed by proper authority, incorporated under general laws or special charter of the state, as associations of the veterans of such units now or as heretofore constituted and designated and associations organized pursuant to section two hundred sixty of this chapter shall, in addition to the powers and authority heretofore granted, possess the same authority herein granted to each unit of the organized militia to take by devise and bequest real and personal property for the appropriate uses and purposes of such organizations and associations and may hold, mortgage, sell or otherwise dispose of the same, and use and apply the proceeds thereof and the income thereof to its appropriate purposes. The title to such property shall vest in such corporations or associations and shall be managed and/or disposed of as provided in and by the constitution, by-laws, rules and regulations now in force or hereafter adopted in respect thereto.