(a) Board of Trustees.—(1) The board of trustees is the governing body of the corporation. The duties and powers of the board are as provided in the bylaws.

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Terms Used In 36 USC 153504

  • 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.

(2) The manner of selection and term of office of the trustees are as provided in the bylaws.

(b) Officers.—(1) The officers of the corporation are a president, one or more vice presidents, a secretary, a treasurer, and other officers as provided in the bylaws.

(2) The manner of election, term of office, and duties of the officers are as provided in the bylaws.

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