36 U.S.C. § 151305 — Powers
submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 166 words · no verdicts yet
The corporation may adopt governing documents, use a seal, and take actions needed to carry out this chapter. It also has the usual powers of a Maryland corporation acting as a trustee.
(a) General.—The corporation may: (1) adopt a constitution and bylaws; (2) adopt a seal that courts must recognize; and (3) take any other action needed to carry out this chapter. (b) Powers as Trustee.—To carry out its purposes, the corporation has the usual powers of a corporation acting as a trustee in Maryland. These powers include: (1) accepting, receiving, asking for, holding, managing, and using any gift, devise, or bequest of property, or any income from or other interest in property, either outright or in trust; (2) unless the transfer document requires otherwise, selling, donating, leasing, investing, or otherwise disposing of property or income from property; (3) making contracts and other arrangements with public agencies, private organizations, and individuals, and making payments needed to perform its functions; (4) suing and being sued; and (5) taking any other action needed and proper to carry out the corporation’s purposes.
The corporation may—
adopt a constitution and bylaws;
adopt a seal which shall be judicially noticed; and
do any other act necessary to carry out this chapter.
To carry out its purposes, the corporation has the usual powers of a corporation acting as a trustee in Maryland, including the power—
to accept, receive, solicit, hold, administer, and use any gift, devise, or bequest, either absolutely or in trust, of property or any income from or other interest in the property;
unless otherwise required by the instrument of transfer, to sell, donate, lease, invest, or otherwise dispose of any property or income from the property;
to make contracts and other arrangements with public agencies and private organizations and persons and to make payments necessary to carry out its functions;
to sue and be sued; and
to 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. 1400; Pub. L. 105–354, § 1(9), Nov. 3, 1998, 112 Stat. 3244.)
- 1998Enacted · Pub. L. 105-225 · 112 Stat. 1400
- 1998Amended · Pub. L. 105-354 · 112 Stat. 3244
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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