The corporation may—
(1) adopt a constitution and bylaws for the management of its property and the regulation of its affairs; and
(2)
(A) hold property, in the District of Columbia or elsewhere, necessary to carry out the purposes of the corporation, in an amount not to exceed $1,000,000; and
(B) hold other property donated or bequeathed in any State or territory of the United States.
Open Table|
Revised Section |
Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 200103 | 36:5401 (2d sentence words before proviso). | Mar. 3, 1901, ch. 876, §1 (2d sentence words before proviso), 31 Stat. 1453; June 29, 1938, ch. 796, 52 Stat. 1226. |
In clause (1), the words "not inconsistent with law" are omitted as unnecessary. The words "for the management of its property and the regulation of its affairs" are added for consistency in the revised title.
In clause (2), subclause (A), the words "hold property" are substituted for "hold real and personal estate", and the words "necessary to carry out the purposes of the corporation" are substituted for "so far only as may be necessary to its lawful ends", for consistency in the revised title and to eliminate unnecessary words. In subclause (B), the word "hold" is added for clarity. The words "other property" are substituted for "such other estate" for consistency in the revised title. The words "of the United States" are added for clarity and for consistency in the revised title.
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