36 USC 70704 – Powers
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The corporation may—
(1) adopt and amend bylaws for the regulation of its affairs;
(2) adopt and alter a corporate seal;
(3) employ persons the corporation considers necessary;
(4) acquire, own, lease, encumber, and transfer property;
(5) sue and be sued; and
(6) do any other act to carry out the purposes of the corporation.
Terms Used In 36 USC 70704
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC