New York Laws
Article 115 - Cornell University
5705 - Extent to Which Property May Be Held.

§ 5705. Extent to which property may be held. The said corporation
may take and hold real and personal property to such an amount as may be
or become necessary for the proper conduct and support of the several
departments of education heretofore established or hereafter to be
established by its board of trustees, and such real and personal
property as has been, or may hereafter be given to said corporation by
gift, grant, devise or bequest in trust or otherwise, for the use and
purposes permitted by its charter, and in cases of trusts so created,
the several trust estates shall be kept distinct, and the interest or
income shall be faithfully applied to the purposes of such respective
trusts, in accordance with the provisions of the acts or instruments by
which the respective trusts were created.

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