(a) The Children's Home, Inc., a corporation of this State, may take under its guardianship all children who may be placed under its care and management in either of the following modes:
(1) Children under 14 years of age who shall be voluntarily surrendered by their fathers, or, in case of their death or absence, by their mothers or by their guardians to the care of Children's Home, Inc.; and
(2) Children under 14 years of age who shall be committed to the care of Children's Home, Inc., by the Family Court on account of vagrancy or for the exposure, neglect or abandonment of the children by their parent or parents, guardian or other person having custody of the children.
(b) The corporation shall have the guardianship of the children so placed under its care and management during their minority, shall cause them to be educated and instructed in a proper manner and to learn such trades and employments as in the judgment of the corporation will be most conducive to the benefit and advantage of the children. The power and charge of the corporation over and upon the children shall not extend in the case of children beyond the age of 18 years, but the corporation may return the children to their parents or surviving parent or guardian.