36 USC 20304 – Powers
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The corporation may—
(1) adopt bylaws and regulations;
(2) fill vacancies;
(3) provide for the election of foreign, domestic, or honorary associate members, and the division of those members into classes;
(4) receive bequests and donations of property, hold the property in trust, and invest the property to carry out the purpose of the corporation; and
(5) do any other act necessary or usual for such a corporation.
Terms Used In 36 USC 20304
- 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.