Powers — Us Code Code § 40304
Us Code Code § 40304 — Powers. Reproduced from the official United States Code, with a citation summary, verification link, and related provisions.
§ 40304. Powers
The corporation may—
(1) adopt and amend a constitution, bylaws, and regulations;
(2) adopt and alter a corporate seal;
(3) establish and maintain offices in the District of Columbia and the States, territories, and possessions of the United States to conduct its affairs;
(4) acquire, own, lease, encumber, and transfer property as necessary to carry out the purposes of the corporation;
(5) sue and be sued; and
(6) do any other act necessary and proper to carry out the purposes of the corporation.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1332.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 40304 | 36:205 (less perpetual succession). | July 1, 1946, ch. 527, §5 (less perpetual succession), 60 Stat. 347. |
In clause (1), the word "amend" is substituted for "alter" for consistency in the revised title. The words "not inconsistent with law" are omitted as unnecessary.
In clause (3), the words "States, territories, and possessions" are substituted for "several States and Territories" for consistency in the revised title.
Clause (4) is substituted for "acquire, hold, mortgage, and dispose of such real and personal property as may be necessary for its corporate purposes" and "accept gifts, legacies, and devises which will further the corporate purposes" for consistency in the revised title and to eliminate unnecessary words.
In clause (6), the words "any other act" are substituted for "any and all acts and things" to eliminate unnecessary words. The word "objects" is omitted as unnecessary.
About This Section
36 U.S.C. § 40304 is part of Title 36 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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