36 U.S.C. § 150302 — Powers
submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 141 words · no verdicts yet
The corporation may organize itself, elect and classify members, fill vacancies, and report its actions to Congress. It may receive, hold, manage, invest, and use property for its purposes, subject to donor instructions and limits Congress may impose on real estate.
(a) General.—The corporation may—(1) create its organization, including adopting a constitution, bylaws, and regulations; (2) provide for electing domestic and foreign members, dividing them into classes, and handling other matters needed or usual for such an institution; (3) fill vacancies; and (4) report its actions under this subsection to Congress. (b) Property.—(1) The corporation may—(A) receive property by will, inheritance, donation, or otherwise; (B) hold property outright or in trust; (C) manage and invest property as its constitution provides; and (D) use the property and its income to carry out the corporation’s purposes, subject to donors’ instructions. (2) Congress may at any time limit how much real estate the corporation may acquire and how long it may hold it.
The corporation may—
make its own organization, including adopting a constitution, bylaws, and regulations;
provide for the election of domestic and foreign members, their division into classes, and other matters needful or usual in such an institution;
fill vacancies; and
report its actions under this subsection to Congress.
The corporation may—
receive property by devise, bequest, donation, or otherwise;
hold the property absolutely or in trust;
manage and invest the property as provided in the constitution of the corporation; and
use the property and income from the property to carry out the purposes of the corporation, subject to instructions of donors.
Congress at any time may limit the amount of real estate the corporation may acquire and the amount of time it may be held.
Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1388.)
- 1998Enacted · Pub. L. 105-225 · 112 Stat. 1388
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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