(a) Federal Charter.—Naval Sea Cadet Corps (in this chapter, the “corporation”) is a federally chartered corporation.

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Terms Used In 36 USC 154101

  • 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) Perpetual Existence.—Except as otherwise provided, the corporation has perpetual existence.

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