36 U.S.C. § 21503 — Governing body

1. (a)General
   1. (1)The board of governors is the governing body of the corporation.
   2. (2)The board shall have at least 12 governors, divided into 3 classes of equal numbers. One class of governors shall be elected each year for a term of 3 years or until their successors are elected. The corporation shall elect the governors at its annual meeting.
2. (b)QuorumFive governors are a quorum for the transaction of business, except that a majority vote of the board is required for—
   1. (1)the sale or alienation of any real or personal estate of the corporation; or
   2. (2)the leasing of real estate of the corporation for a term of more than one year.
3. (c)PowersThe board may—
   1. (1)adopt and amend bylaws, as may be necessary and proper, related to—
      1. (A)elections and meetings;
      2. (B)qualifications and duties of governors and officers;
      3. (C)admission and qualifications of members; and
      4. (D)management and disposition of the property, business, and concerns of the corporation;
   2. (2)conduct all business of the corporation;
   3. (3)fill, until the next annual election, a vacancy on the board; and
   4. (4)appoint attending and resident physicians and surgeons, agents, assistants, and attendants as may be necessary, set their compensation, and discharge them.