§154303. Powers
The corporation may—
(1) adopt and amend bylaws;
(2) adopt and alter a corporate seal;
(3) appoint or elect officers and agents;
(4) choose a board of trustees, consisting of at least 5 but not more than 15 individuals, to conduct the business and exercise the powers of the corporation;
(5) establish and maintain offices to conduct its activities;
(6) acquire, own, lease, encumber, and transfer property as necessary or appropriate to carry out the purposes of the corporation;
(7) charge and collect membership dues and receive contributions of money or property to be devoted to carrying out the purposes of the corporation;
(8) sue and be sued; and
(9) do any other act necessary or appropriate to carry out the purposes of the corporation.
( Pub. L. 105–225 , Aug. 12, 1998 , 112 Stat. 1434 .)
Historical and Revision Notes
Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
154303 | 36:140b(b)–(j). | June 6, 1940, ch. 239, § 3(b)–(j), 54 Stat. 233. |
In clause (1), the words “not inconsistent with the Constitution and laws of the United States or of any State” are omitted as unnecessary.
In clause (2), the words “at pleasure” are omitted as unnecessary.
Clause (6) is substituted for “acquire, by purchase, devise, bequest, gift, or otherwise, and hold, encumber, convey, or otherwise dispose of such real and personal property as may be necessary or appropriate for its corporate purposes” for consistency in the revised title.
In clause (9), the word “generally” is omitted as unnecessary. The words “any other act” are substituted for “any and all lawful acts” for consistency in the revised title.