36 USC 153303 – Powers
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The corporation may—
(1) adopt and amend a constitution, bylaws, and regulations for the admission, government, suspension, and expulsion of its members;
(2) adopt and alter a seal;
(3) provide for the election of its officers and define their duties;
(4) provide for State societies or chapters with regulations for their conduct, and regulate and provide for the management, safe-keeping, and protection of their property and funds;
(5) acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out the purposes of the corporation; and
(6) sue and be sued.
Terms Used In 36 USC 153303
- 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