(a) Board of Directors.—The board of directors and the responsibilities of the board are as provided in the articles of incorporation or bylaws.

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Terms Used In 36 USC 152905

  • 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.

(b) Officers.—The officers and the election of officers are as provided in the articles of incorporation or bylaws.

(c) Nondiscrimination.—The requirements for holding office in the corporation may not discriminate on the basis of race, color, religion, or national origin.

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