36-U.S.C.-151105

§151105 – Powers

Pathway

Title 36 > Subtitle II > Part B > Chapter 1511 > Section 151105

Details

• Reference: Section 151105
• Legend: §151105 – Powers
• USCode Year: 2013

Provision Content

The corporation may—

(1) adopt and amend bylaws;

(2) adopt and alter a corporate seal;

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

(4) accept and administer a trust for educational purposes;

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

(6) sue and be sued in any court of the United States, or other court of competent jurisdiction.

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1398.)

In this section, the text of 36:5309 is omitted as executed and obsolete.

In clause (1), the words adopt and amend are substituted for make for consistency in the revised title. The words not inconsistent with the provisions of this chapter or of the Constitution of the United States are omitted as unnecessary.

In clause (2), the words adopt and alter a corporate seal are substituted for have and to use a common seal, and to alter and change the same at its pleasure for consistency in the revised title and to eliminate unnecessary words.

Clause (3) is substituted for take or receive, whether by gift, grant, devise, bequest, or purchase, any real or personal estate, and to hold, grant, transfer, sell, convey, hire, or lease the same for the purpose of its incorporation for consistency in the revised title and to eliminate unnecessary words.

In clause (4), the words of real or personal estate and within the objects of the corporation are omitted as unnecessary.

In clause (5), the words for its corporate purposes are omitted as unnecessary. The words instruments of indebtedness are substituted for bonds therefor, and the words secure its obligations by granting security interests in its property are substituted for secure the same by mortgage, deed of trust, pledge, or otherwise, for consistency in the revised title and 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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