36 USC 20503 – Powers
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The corporation may—
(1) adopt a constitution, bylaws, and regulations;
(2) fill vacancies;
(3) provide for the election of members and the division of those members into classes;
(4) receive property, hold the property absolutely or in trust, invest and manage the property, and use the property and income arising from it to carry out the purposes of the corporation; and
(5) do any other act necessary and proper to carry out the purposes of the corporation.
Terms Used In 36 USC 20503
- 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.