36 U.S.C. § 130305 — Powers

submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 83 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law lists what the Legion of Valor can do. It can adopt bylaws, make contracts, own property, borrow money, collect dues, and sue or be sued. These powers must serve the corporation's purposes.

The corporation may: (1) adopt and amend a constitution and bylaws to manage its property and run its affairs; (2) adopt and change a corporate seal; (3) make contracts; (4) acquire, own, lease, mortgage, and transfer property as necessary or useful for its purposes; (5) borrow money, issue debt instruments, and secure its debts with security interests in its property; (6) charge and collect membership dues; and (7) sue and be sued.

the actual law source: uscode.house.gov ↗public domain

The corporation may—

(1)

adopt and amend a constitution and bylaws for the management of its property and the regulation of its affairs;

(2)

adopt and alter a corporate seal;

(3)

make contracts;

(4)

acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out the purposes of the corporation;

(5)

borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property;

(6)

charge and collect membership dues; and

(7)

sue and be sued.

Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1375.)

history & why it existsrecord from the source credit

1998Enacted · Pub. L. 105-225 · 112 Stat. 1375

A history note hasn’t been published yet. The record shows enactment by Pub. L. 105-225 on 1998-08-12.

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