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The North Carolina State College of Agriculture and Engineering shall be conducted and operated as part of The University of North Carolina. It shall be located at Raleigh, North Carolina, and shall be known as the North Carolina State College of Agriculture and Engineering of The University of North Carolina, (cf. G.S. 116-27)

The North Carolina College for Women shall be conducted and operated as a part of The University of North Carolina. It shall be located at Greensboro, North Carolina, and shall be known as the Woman's College of The University of North Carolina, (cf. G.S. 116-38)

SECTION 1-2. TRUSTEES, NUMBER, ELECTION AND TERM

There shall be one hundred trustees of The University of North Carolina, at least ten of whom shall be women, who shall be elected for terms of eight years by the General Assembly by joint ballot of both houses. Twenty-five of the trustees shall be elected every two years, (cf. G.S. 116-4)

SECTION 1-3. INCORPORATION AND CORPORATE POWERS

The trustees of The University of North Carolina shall be a body politic and corporate to be known and distinguished by the name of The University of North Carolina and by that name shall have perpetual succession and a common seal; and by that name shall be able and capable in law to take, demand, receive, and possess all moneys, goods, and chattels that shall be given for the use of The University of North Carolina and to apply the same according to the will of the donors; and by gift, purchase, or devise to receive, possess, enjoy, and retain forever any and all real and personal estate and funds, of whatsoever kind, nature, or quality the same may be, in special trust and confidence that the same, or the profits thereof, shall be applied to and for the use and purpose of establishing and endowing The University of North Carolina and shall have power to receive donations from any source whatever, to be exclusively devoted to the purposes of the maintenance of The University of North Carolina, or according to the terms of the donation, (cf. G.S. 116-3)

PROPERTY RIGHTS

The corporation, by its corporate name, shall be able and capable in law to bargain, sell, grant, alien, or dispose of and convey and assure to the purchasers any and all such real and personal estate and funds as it may lawfully acquire when the condition of the grant to it or the will of the devisor does not forbid it; and shall be able and capable in law to sue and be sued in all courts whatsoever; and shall have power to open and receive subscriptions, and in general may do all such things as are usually done by bodies corporate and politic, or such as may be necessary for the promotion of learning and virtue. (G.S. 116-3)

In addition to these powers, the Board of Trustees shall succeed to all the rights, privileges, duties and obligations by law, or otherwise, enjoyed by or imposed upon the University of North Carolina, the North Carolina State College of Agriculture and Engineering, and the North Carolina College for Women, prior to March 27, 1931. (G.S. 116-3)

USE OF RECEIPTS

All receipts shall be applied to the maintenance and promotion of the particular unit of The University of