The trustees, managers, or directors shall elect the officers of the corporation from their number and have the control and management of the affairs and property of the corporation, may accept donations and, in their discretion, hold the donations in the form in which they are given for the purposes of science, literature, and art germane to the objects and purposes of the corporation. They may, in their discretion, receive by loan books, manuscripts, works of art, and other library materials and hold or circulate them under the conditions specified by the owners. (Amended 1989, No. 28, § 6.)