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Special Funds <br />Clause 3. The corporation may create special funds for specific purposes to be used in the <br />interest of the Boy Scouts of America by the corporation or a unit under its jurisdiction. Such <br />special funds may be established by recordation in proper account on the books of the <br />corporation and shall, if required by direction of the executive board or the term of a gift or <br />bequest, be vested in a bank or trust company in trust for the use of the corporation or the <br />unit, with the provision in the statement of the conditions governing the administering of the <br />trust that in the event of the dissolution of the unit or corporation or revocation, termination, <br />or lapse of its charter said trustee will, after satisfying any claims against such fund, turn over <br />to the Boy Scouts of America the balance for use by the Boy Scouts of America for the benefit <br />of Scouting in such locality and for the specific purposes for which the fund was granted. If, <br />after a reasonable period, there is no suitable opportunity for the use of said fund in such <br />locality, it may be used elsewhere. <br />Real Estate <br />Clause 4. The corporation may hold title to real property in its own name as long as its <br />Articles of Incorporation expressly provide for the conveyance of such property or the net <br />proceeds from the sale thereof to the Boy Scouts of America in the event of the dissolution of <br />the corporation or the revocation or termination of its charter. Title to real property acquired <br />for the corporation may also be vested in a bank or trust company in trust for the use of the <br />corporation, where appropriate in accordance with the wishes of the donor, with a provision in <br />the trust deed that in the event of the dissolution of the corporation or the revocation or <br />termination of its charter, the trustee, after satisfying any claims against the corporation to <br />which such property may be subject, will convey said property or pay the net proceeds from a <br />sale of the property to the Boy Scouts of America, which shall hold or use said property or <br />funds for the benefit of Scouting in the locality in which the corporation is located or <br />elsewhere if after a reasonable period there is not suitable opportunity to use said property or <br />funds in said locality. <br />Title to all real estate acquired for a unit under the jurisdiction of the corporation shall be <br />vested in (a) the name of the corporation (if the corporation agrees to hold title to property), <br />(b) the operator of such unit (if the operator is a chartered organization or community group), <br />or (c) a bank or trust company, in each case in trust for the use of the unit, where appropriate <br />in accordance with the wishes of the donor, with a provision in the trust deed that in the event <br />of the dissolution of the unit or the revocation, termination, or lapse of its charter, the trustee <br />will, after satisfying any claim against such unit to which such real estate may be subject, hold <br />the property upon the instructions of the corporation or, if so instructed, convey said property <br />or pay the net proceeds from a sale of the property to the corporation, which shall hold or use <br />said property or funds for the benefit of Scouting in the locality in which the unit is located or <br />elsewhere if, after a reasonable period, there is not a suitable opportunity to use said property <br />or funds in such locality. <br />24 <br />