36 USC 153103 – Powers
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The corporation may—
(1) adopt a constitution and bylaws;
(2) adopt a seal; and
(3) acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out its purposes.
Terms Used In 36 USC 153103
- 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