36 U.S.C. § 150506 — Powers

submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 144 words · no verdicts yet

in plain englishAI-generated · not legal advice

The corporation has whatever powers its bylaws and articles of incorporation give it. These include making rules, adopting a seal and emblems, hiring staff, signing contracts, owning property, borrowing money, publishing materials, and suing or being sued.

The corporation's powers come from its bylaws and articles of incorporation filed in its state of incorporation. Those powers include the power to: (1) adopt bylaws and regulations to manage its property and run its affairs; (2) adopt and change a corporate seal; (3) adopt emblems and badges; (4) choose officers, managers, and agents as needed; (5) make contracts; (6) acquire, own, lease, put a lien on, and transfer property needed for its purposes; (7) borrow money, issue debt instruments, and secure its debts with property as collateral; (8) publish a magazine, newspaper, and other publications that fit its purposes; (9) sue and be sued; and (10) do any other act necessary and proper to carry out its purposes.

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

The corporation has the powers provided in its bylaws and articles of incorporation filed in the State in which it is incorporated, including the power to—

(1)

adopt bylaws and regulations for the management of its property and the regulation of its affairs;

(2)

adopt and alter a corporate seal;

(3)

adopt emblems and badges;

(4)

choose officers, managers, and agents as the activities of the corporation require;

(5)

make contracts;

(6)

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

(7)

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

(8)

publish a magazine, newspaper, and other publications consistent with the purposes of the corporation;

(9)

sue and be sued; and

(10)

do any other act necessary and proper to carry out the purposes of the corporation.

Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1390.)

history & why it existsrecord from the source credit

1998Enacted · Pub. L. 105-225 · 112 Stat. 1390

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

all 0 arguments · sorted by: best

no arguments yet — make the first case