36 U.S. Code § 130305 - Powers

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) make contracts;
(4) acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out the purposes of the corporation;
(5) borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property;
(6) charge and collect membership dues; and
(7) sue and be sued.

Source

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1375.)

Historical and Revision Notes
Revised Section Source (U.S. Code) Source (Statutes at Large)
130305
36:634(2)–(9).
Aug. 4, 1955, ch. 546, §§ 4(2)–(9), 16, 69 Stat. 487, 490.
36:646.

In this section, the text of 36:646 is omitted as executed and obsolete.
In clause (1), the word “alter” is omitted as included in “amend”. The words “not inconsistent with the laws of the United States or any State in which the corporation is to operate” are omitted as unnecessary.
In clause (2), the word “use” is omitted as unnecessary.
In clause (3), the words “make contracts” are substituted for “contract and be contracted with” for consistency in the revised title.
Clause (4) is substituted for “to take by lease, gift, purchase, grant, devise, or bequest from any private corporation, association, partnership, firm, or individual and to hold any property, real, personal, or mixed, necessary or convenient for attaining the objects and carrying into effect the purposes of the corporation” and “to transfer, convey, lease, sublease, encumber, and otherwise alienate real, personal or mixed property” for consistency in the revised title and to eliminate unnecessary words. The words “subject, however, to applicable provisions of law of any State (A) governing the amount or kind of property which may be held by, or (B) otherwise limiting or controlling the ownership of property by, a corporation operating in such State” are omitted as unnecessary.
In clause (5), the words “for the purposes of the corporation” are omitted as unnecessary. The words “issue instruments of indebtedness, and secure its obligations by granting security interests in its property” are substituted for “issue bonds therefor, and secure the same by mortgage, deed of trust, pledge, or otherwise” for consistency in the revised title. The words “subject in every case to all applicable provisions of Federal and State laws” are omitted as unnecessary.
In clause (7), the words “complain and defend in any court of competent jurisdiction” are omitted as unnecessary.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.

36 USCDescription of ChangeSession YearPublic LawStatutes at Large

 

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