§153103. Powers
Primary source
Verbatim text below is from the United States Code (GovInfo), a public-domain U.S. government work.
Full Text
§153103. Powers
The corporation may—
(1) adopt a constitution and bylaws;
(2) adopt a seal; and
(3) acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out its purposes.
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 153103 | 36:18a (1st sentence). | Feb. 20, 1896, ch. 23, §2 (1st sentence), 29 Stat. 9; Mar. 3, 1915, ch. 89, 38 Stat. 955; Feb. 5, 1926, ch. 11, 44 Stat. 4; July 30, 1951, ch. 255, 65 Stat. 130; Oct. 1, 1976, Pub. L. 94–443, §1, 90 Stat. 1475. |
In clause (1), the words "not inconsistent with law" are omitted as unnecessary.
Clause (3) is substituted for "acquire by purchase, gift, devise, or bequest and to hold, convey, or otherwise dispose of such property, real or personal, as may be convenient or necessary for its lawful purposes" for consistency in the revised title and to eliminate unnecessary words.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.