36-U.S.C.-140505

§140505 – Powers

Pathway

Title 36 > Subtitle II > Part B > Chapter 1405 > Section 140505

Details

• Reference: Section 140505
• Legend: §140505 – Powers
• USCode Year: 2013

Provision Content

The corporation may—

(1) adopt and amend a constitution and bylaws for the management of its property and the regulation of its affairs;

(2) adopt and alter a corporate seal;

(3) make contracts;

(4) acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out the purposes of the corporation;

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

(6) charge and collect membership dues; and

(7) sue and be sued.

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1382.)

In this section, the text of 36:836 is omitted as executed and obsolete.

In clause (1), the word alter is omitted as included in amend. The words not inconsistent with the laws of the United States or any State in which the corporation is to operate are omitted as unnecessary.

Clause (4) is substituted for take [by] lease, gift, purchase, grant, devise, or bequest from any private corporation, association, partnership, firm or individual and to hold any property, real, personal or mixed, necessary or convenient for attaining the object and carrying into effect the purposes of the corporation and transfer, convey, lease, sublease, encumber, and otherwise alienate real, personal or mixed property for consistency in the revised title and to eliminate unnecessary words. The words subject, however, to applicable provisions of law of any State (A) governing the amount or kind of property which may be held, or (B) otherwise limiting or controlling the ownership of property by, a corporation operating in such State are omitted as unnecessary.

In clause (5), the words for the purposes of the corporation are omitted as unnecessary. The words issue instruments of indebtedness, and secure its obligations by granting security interests in its property are substituted for issue bonds therefor, and secure the same by mortgage, deed of trust, pledge, or otherwise to eliminate unnecessary words. The words subject in every case to all applicable provisions of Federal and State laws are omitted as unnecessary.

In clause (7), the words complain and defend in any court of competent jurisdiction are omitted as unnecessary.

U.S. Encyclopedia of Law Coverage

36-U.S.C.-140406 in the Legal Encyclopedia: Patriotic Organizations

In this entry about 36-U.S.C.-140406, find legal reference material, bibliographies and premiere content related to patriotic organizations in the American Encyclopedia of Law, presenting a comprehensive view of the United States patriotic organizations-specific issues, written by authorities in the field.

36-U.S.C.-140412 in the Legal Encyclopedia: Military

In this entry about 36-U.S.C.-140412, find legal reference material, bibliographies and premiere content related to military in the American Encyclopedia of Law, presenting a comprehensive view of the United States military-specific issues, written by authorities in the field.

Topic Map

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