36-U.S.C.-150905

§150905 – Powers

Pathway

Title 36 > Subtitle II > Part B > Chapter 1509 > Section 150905

Details

• Reference: Section 150905
• Legend: §150905 – Powers
• USCode Year: 2013

Provision Content

The corporation may—

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

(2) adopt and alter a corporate seal;

(3) choose directors, officers, trustees, managers, employees, and agents as the activities of the corporation require;

(4) make contracts;

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

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

(7) sue and be sued; and

(8) do any other act necessary and proper to carry out the purposes of the corporation.

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1396.)

In this section, the text of 36:4502 and 4516 is omitted as executed and obsolete.

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

In clause (2), the word use is omitted as unnecessary.

In clause (3), the word activities is substituted for business for consistency in the revised title.

Clause (5) is substituted for take and hold by lease, gift, purchase, grant, devise, or bequest, or by any other method, any property, real or personal, necessary or proper for attaining the objects and carrying into effect the purposes of the corporation and transfer and convey real or personal property, and to mortgage, pledge, encumber, lease, and sublease the same for consistency in the revised title and to eliminate unnecessary words. The words subject, however, to applicable provisions of law of any State or the District of Columbia (a) governing the amount or kind of such property which may be held by, or (b) otherwise limiting or controlling the ownership of any such property by a corporation operating in such State or the District of Columbia are omitted as unnecessary.

In clause (6), the words for its corporate purposes 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 or other evidences of indebtedness therefor, and to secure the same by mortgage, pledge, or lien for consistency in the revised title and to eliminate unnecessary words. The words subject in every case to all applicable provisions of Federal or State law, or of the laws of the District of Columbia are omitted as unnecessary.

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

In clause (8), the words any other act are substituted for any and all such acts and things to eliminate unnecessary words.

U.S. Encyclopedia of Law Coverage

36-U.S.C.-150710 in the Legal Encyclopedia: Patriotic Organizations

In this entry about 36-U.S.C.-150710, 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.

Topic Map

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