Caption: Board of Trustees Minutes - 1972
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194 BOARD OF TRUSTEES meetings: February 17 at the Medical Center campus; March 17 (the Annual Meeting which had previously been changed by the Board from the second Tuesday, March 9) at the Urbana-Champaign campus; and April 21, at Chicago Circle. RECESS The regular meeting of the Board was recessed and the President of the Board stated that meetings of the Committees on General Policy and Buildings and Grounds had been called and that an executive session had been requested and was being ordered, following the Committee meetings, to consider pending litigation. EXECUTIVE SESSION When the Board reconvened in Executive Session, the same members of the Board, officers of the Board and of the University as recorded at the beginning of these minutes were present. The Board considered the following report and recommendation. ROBERT W O O D KEETON PROFESSOR O F MEDICINE (35) The will of Emily Alcorn Keeton exercised a power of appointment created by the will of her husband, Robert Wood Keeton, in favor of an insurance trust the husband had established during his lifetime. The insurance trust provides for distribution of money to the University, the income and principal of which is to be used to fund certain payments to a member of the faculty of the Department of Medicine, who is to be known as the Robert Wood Keeton Professor of Medicine. Some of the trust provisions are ambiguous in terms of the amount and duration of payments to the recipient of the professorship as well as the method of selection. Accordingly, it is necessary to secure a judicial construction of the terms of the documents. The estate of Emily Alcorn Keeton is currently pending before the Probate Division of the Circuit Court at Chicago, which has jurisdiction to make the required interpretations. The University Counsel recommends that he be authorized to take such steps as are necessary or appropriate, including the employment of special counsel, to secure a judicial construction of the above documents. I concur. On motion of Mr. Steger, authority was granted as requested. On motion of Mr. Grimes, the Board adjourned. R. C. WICKXUND EARL M. HUGHES Assistant Secretary and Clerk President LUNCHEON A group of faculty and students from the Chicago Circle campus and the Board of Directors of the Universities Retirement System were guests of the Board at lunch.
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