36 USC 200103 – Powers
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The corporation may—
(1) adopt a constitution and bylaws for the management of its property and the regulation of its affairs; and
(2)(A) hold property, in the District of Columbia or elsewhere, necessary to carry out the purposes of the corporation, in an amount not to exceed $1,000,000; and
(B) hold other property donated or bequeathed in any State or territory of the United States.
Terms Used In 36 USC 200103
- 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.
- 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