16-U.S.C.-19I
§19I – Corporate Succession; Powers and Duties of Trustee; Suits; Personal Liability For Malfeasance
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Title 16 > Chapter 1 > Subchapter III > Section 19i
Details
- Reference: Section 19i
- Legend: §19I – Corporate Succession; Powers and Duties of Trustee; Suits; Personal Liability For Malfeasance
- USCode Year: 2013
Provision Content
The Foundation shall have perpetual succession, with all the usual powers and obligations of a corporation acting as a trustee, including the power to sue and to be sued in its own name, but the members of the Board shall not be personally liable, except for malfeasance.
(Pub. L. 90–209, §5, Dec. 18, 1967, 81 Stat. 657.)
U.S. Encyclopedia of Law Coverage
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