Powers

Source Credit

The corporation may—
(1) adopt a constitution, bylaws, and regulations;
(2) adopt and alter a corporate seal;
(3) acquire and own property necessary to carry out the purposes of the corporation;
(4) give and dedicate its property to public agencies and purposes;
(5) maintain offices, hold meetings, and conduct business affairs in the District of Columbia and in the States, territories, and possessions of the United States;
(6) sue and be sued within the jurisdiction of the United States; and
(7) do any other act necessary and proper to carry out the purposes of the corporation.

History

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1456.)

Editorial Notes

The text of 36:4707 is omitted as executed and obsolete.
In clause (1), the word "rules" is omitted as included in "regulations". The words "not inconsistent with the laws of the United States of America, or any State thereof" are omitted as unnecessary.
In clause (2), the words "adopt and alter" are substituted for "adopt . . . and the same to alter at pleasure" for consistency in the revised title.
In clause (3), the words "acquire and own property" are substituted for "hold such real and personal estate . . . and . . . receive real and personal property by gift, devise, or bequest" for consistency in the revised title and to eliminate unnecessary words.
In clause (6), the words "in courts of law and equity" are omitted as unnecessary and for consistency in the revised title.