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36 U.S.C. § 20503 — Powers

submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 77 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law lists the corporation's basic powers: adopting its own governing rules, filling vacancies, admitting members, managing property, and doing whatever else is needed to carry out its purposes.

This section grants the corporation five powers: (1) adopting a constitution, bylaws, and regulations; (2) filling vacancies; (3) setting up how members are elected and dividing them into classes; (4) receiving property, holding it outright or in trust, investing and managing it, and using it and its income to carry out the corporation's purposes; and (5) doing any other act that is necessary and proper to carry out those purposes.
the actual law source: uscode.house.gov ↗public domain

The corporation may—

(1)

adopt a constitution, bylaws, and regulations;

(2)

fill vacancies;

(3)

provide for the election of members and the division of those members into classes;

(4)

receive property, hold the property absolutely or in trust, invest and manage the property, and use the property and income arising from it to carry out the purposes of the corporation; and

(5)

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. 1287.)

history & why it existsrecord from the source credit
  • 1998Enacted · Pub. L. 105-225 · 112 Stat. 1287

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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