Powers of Foundation

Source Credit

The corporation—
(a) Shall have perpetual succession;
(b) May sue and be sued;
(c) May adopt a corporate seal and alter it at pleasure;
(d) May adopt and alter bylaws;
(e) May appoint officers and agents;
(f) May acquire by purchase, devise, bequest, gift, or otherwise, and hold, encumber, convey, or otherwise dispose of, such real and personal property as may be necessary or appropriate for its corporate purposes;
(g) May invest and reinvest the principal and interest of its funds; and
(h) Generally, may do any and all lawful acts necessary or appropriate to carry out the purposes for which the corporation is created.

History

(June 10, 1930, ch. 440, §4, 46 Stat. 540.)