(a) Federal Charter.—National Federation of Music Clubs (in this chapter, the “corporation”), incorporated in Illinois, is a federally chartered corporation.

Terms Used In 36 USC 151502

  • 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) Expiration of Charter.—If the corporation does not comply with any provision of this chapter, the charter granted by this chapter expires.

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