36 U.S.C. § 230305 — Powers
submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 107 words · no verdicts yet
The corporation may adopt its own constitution and bylaws, choose its own officers and staff, and make contracts. It can own, lease, or transfer property, and borrow money by pledging that property as security. It can also sue, be sued, and take any other action needed to fulfill its purposes.
This section lists the powers the corporation has. It may adopt and change its own constitution and bylaws to manage its property and run its affairs. It may adopt and change a corporate seal. It may choose the officers, managers, employees, and agents it needs to carry out its work. It may make contracts. It may acquire, own, lease, mortgage or otherwise encumber, and transfer property, as needed to carry out its purposes. It may borrow money, issue documents that promise to repay debt, and back those promises by giving lenders a security interest in its property. It may sue other people and be sued by them. Finally, it may do any other lawful act that is necessary and proper to carry out its purposes.
The corporation may—
adopt and amend a constitution and bylaws for the management of its property and the regulation of its affairs;
adopt and alter a corporate seal;
choose officers, managers, employees, and agents as the activities of the corporation require;
make contracts;
acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out the purposes of the corporation;
borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property;
sue and be sued; and
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. 1484.)
- 1998Enacted · Pub. L. 105-225 · 112 Stat. 1484
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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