36-U.S.C.-40505

§40505 – Powers

Pathway

Title 36 > Subtitle II > Part B > Chapter 405 > Section 40505

Details

• Reference: Section 40505
• Legend: §40505 – 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, and agents as the activities of the corporation require;

(4) charge and collect membership dues;

(5) make contracts;

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

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

(8) sue and be sued; and

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

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1333.)

In this section, the text of 36:806 is omitted as executed and obsolete.

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

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

In clause (5), the words make contracts are substituted for contract and be contracted with to eliminate unnecessary words.

Clause (6) is substituted for take and hold by lease, gift, purchase, grant, devise, bequest or otherwise any property real, personal, or mixed, necessary or convenient for attaining the objects of the corporation and transfer, lease, or convey real or personal 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 real and personal property which may be held by, or, (b) otherwise limiting or controlling the ownership of real and personal property by, a corporation operating in such State are omitted as unnecessary.

In clause (7), 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 secure the same by mortgage or pledge for consistency in the revised title. The words for the purposes of the corporation and subject to applicable Federal or State laws are omitted as unnecessary.

In clause (8), 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.-40110 in the Legal Encyclopedia: Patriotic Organizations

In this entry about 36-U.S.C.-40110, 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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