36 USC 150506 – Powers
The corporation has the powers provided in its bylaws and articles of incorporation filed in the State in which it is incorporated, including the power to—
(1) adopt bylaws and regulations for the management of its property and the regulation of its affairs;
(2) adopt and alter a corporate seal;
(3) adopt emblems and badges;
(4) choose officers, managers, and agents as the activities of the corporation require;
(5) make contracts;
(6) acquire, own, lease, encumber, and transfer property as necessary 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) publish a magazine, newspaper, and other publications consistent with the purposes of the corporation;
(9) sue and be sued; and
(10) do any other act necessary and proper to carry out the purposes of the corporation.
Terms Used In 36 USC 150506
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- State: means a State, the District of Columbia, the Commonwealth of Puerto Rico, or any other territory or possession of the United States. See 1 USC 7