The corporation may—(1) adopt a constitution, bylaws, and regulations;
(2) adopt and alter a corporate seal;
(3) establish and maintain offices and buildings to conduct its activities;
(4) establish State and territorial organizations and local branches;
(5) acquire, own, lease, encumber, and transfer property as necessary to carry out the purposes of the corporation, subject to its constitution and instructions of donors;
(6) sue and be sued; and
(7) do any other act necessary and proper to carry out the purposes of the corporation.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1299.)
Historical and Revision Notes
RevisedSectionSource (U.S. Code)Source (Statutes at Large)
2190336:3303 (less perpetual succession).July 5, 1935, ch. 373, §§ 3 (less perpetual succession), 7, 49 Stat. 458, 459.
36:3307.
In clause (1), the words “to carry out its purposes not inconsistent with the laws of the United States or any States” are omitted as unnecessary.
In clause (2), the words “at pleasure” are omitted as unnecessary.
In clause (3), the word “activities” is substituted for “business” for consistency in the revised title.
Clause (5) is substituted for “to receive, hold, own, use, mortgage, and dispose of such real estate and personal property as shall be necessary for its corporate purposes” in 36:3303 and for 36:3307 for consistency in the revised title and to eliminate unnecessary words.
In clause (6), the words “in the courts of law and equity” are omitted as unnecessary.
In clause (7), the words “do any other act” are substituted for “generally to do all such acts and things” for consistency in the revised title and to eliminate unnecessary words.