36 USC 80304 – Powers
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The corporation may—
(1) adopt and amend a constitution, bylaws, and regulations, including regulations for the election of associates and successors;
(2) adopt and alter a seal;
(3) have offices and conduct its activities in the District of Columbia and in the States, territories, and possessions of the United States;
(4) acquire, own, lease, encumber, and transfer property, and use any income from the property, as necessary to carry out the purposes of the corporation;
(5) sue and be sued within the jurisdiction of the United States; and
(6) do any other act necessary to carry out this chapter and the purposes of the corporation.
Terms Used In 36 USC 80304
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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