The corporation may—
(1) adopt and amend a constitution and bylaws for the management of its property and the regulation of its affairs;
(2) adopt and alter a corporate seal;
(3) choose officers, managers, agents, and employees as the activities of the corporation require;
(4) make contracts;
(5) acquire, own, lease, encumber, and transfer property as necessary to carry out the purposes of the corporation;
(6) borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property;
(7) use corporate funds to give prizes, awards, loans, scholarships, and grants to deserving students to carry out the purpose of the corporation;
(8) publish a magazine and other publications;
(9) sue and be sued; and
(10) do any other act necessary and proper to carry out the purpose of the corporation.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1323.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 30705 | 36:504. | July 19, 1954, ch. 536, §4, 68 Stat. 490. |
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