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U.S Code last checked for updates: Nov 22, 2024
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Title 15
Chapter 13
§ 503. Purpose of Foundation...
§ 505. Report to Congress...
§ 503. Purpose of Foundation...
§ 505. Report to Congress...
U.S. Code
§ 504.
Powers of Foundation
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.
(
June 10, 1930, ch. 440, § 4
,
46 Stat. 540
.)
cite as:
15 USC 504
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