FEDERAL · 36 U.S.C. · Chapter 901
Powers
Current through Pub. L. 119-102
(a)In General.—The foundation may—
(1)adopt a constitution and bylaws;
(2)adopt a seal which shall be judicially noticed; and
(3)do any other act necessary to carry out this chapter.
(b)Powers as Trustee.—To carry out its purposes, the foundation has the usual powers of a corporation acting as a trustee in the District of Columbia, including the power—
(1)to accept, receive, solicit, hold, administer, and use any gift, devise, or bequest, either absolutely or in trust, of property or any income from or other interest in property;
(2)to acquire property or an interest in property by purchase or exchange;
(3)unless otherwise required by an instrument of transfer, to sell, donate, lease, invest, or otherwise dispose of any property or income from property;
(4)to borrow money and issu
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Source Credit
History
(Added Pub. L. 107–252, title VI, §601(a), Oct. 29, 2002, 116 Stat. 1720, §152605; renumbered §90105, Pub. L. 113–237, §3(c)(6)(B), Dec. 18, 2014, 128 Stat. 2840.)
Editorial Notes
Editorial Notes
Amendments
2014—Pub. L. 113–237 renumbered section 152605 of this title as this section.
Amendments
2014—Pub. L. 113–237 renumbered section 152605 of this title as this section.