36-U.S.C.-22305

§22305 – Powers

Pathway

Title 36 > Subtitle II > Part B > Chapter 223 > Section 22305

Details

• Reference: Section 22305
• Legend: §22305 – 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) choose officers, managers, agents, and employees as the activities of the corporation require;

(4) make contracts;

(5) acquire, own, lease, encumber, and transfer property as necessary or convenient 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; and

(7) sue and be sued.

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1302.)

In this section, the text of 36:3417 is omitted as executed and obsolete.

In clause (1), the word[s] and alter and not inconsistent with the laws of the United States or 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.

In clause (4), the words make contracts are substituted for contract and be contracted with to eliminate unnecessary words.

Clause (5) 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 objects 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 by, or (B) otherwise limiting or controlling the ownership of property by, a corporation operating in such State are omitted as unnecessary.

In clause (6), the words instruments of indebtedness are substituted for bonds for consistency in the revised title. 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 to eliminate unnecessary words. The words for the purposes of the corporation, therefor, and 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.-22109 in the Legal Encyclopedia: Patriotic Organizations

In this entry about 36-U.S.C.-22109, 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

• Browse the Topic Map in relation with Title 36 (Patriotic And National Observances, Ceremonies, And organizations) guided by subject interests.