The corporation may—
(1) adopt and amend a constitution, bylaws, and regulations;
(2) adopt and alter a corporate seal;
(3) establish and maintain offices in the District of Columbia and the States, territories, and possessions of the United States to conduct its affairs;
(4) acquire, own, lease, encumber, and transfer property as necessary to carry out the purposes of the corporation;
(5) sue and be sued; and
(6) do any other act necessary and proper to carry out the purposes of the corporation.
Open Table|
Revised Section |
Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 40304 | 36:205 (less perpetual succession). | July 1, 1946, ch. 527, §5 (less perpetual succession), 60 Stat. 347. |
In clause (1), the word "amend" is substituted for "alter" for consistency in the revised title. The words "not inconsistent with law" are omitted as unnecessary.
In clause (3), the words "States, territories, and possessions" are substituted for "several States and Territories" for consistency in the revised title.
Clause (4) is substituted for "acquire, hold, mortgage, and dispose of such real and personal property as may be necessary for its corporate purposes" and "accept gifts, legacies, and devises which will further the corporate purposes" for consistency in the revised title and to eliminate unnecessary words.
In clause (6), the words "any other act" are substituted for "any and all acts and things" to eliminate unnecessary words. The word "objects" is omitted as unnecessary.
Tried the LawStack mobile app?
Join thousands and try LawStack mobile for FREE today.
- Carry the law offline, wherever you go.
- Download CFR, USC, rules, and state law to your mobile device.
