36 USC 300105 – Powers
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(a)
(1) adopt policies and regulations;
(2) adopt, alter, and destroy a seal;
(3) own and dispose of property to carry out the purposes of the corporation;
(4) accept gifts, devises, and bequests of property to carry out the purposes of the corporation;
(5) sue and be sued in courts of law and equity, State or Federal, within the jurisdiction of the United States; and
(6) do any other act necessary to carry out this chapter and promote the purposes of the corporation.
Terms Used In 36 USC 300105
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
(b)