36 U.S. Code § 151305 - Powers

(a) General.— The corporation 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 corporation has the usual powers of a corporation acting as a trustee in Maryland, 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 the property;
(2) unless otherwise required by the instrument of transfer, to sell, donate, lease, invest, or otherwise dispose of any property or income from the property;
(3) to make contracts and other arrangements with public agencies and private organizations and persons and to make payments necessary to carry out its functions;
(4) to sue and be sued; and
(5) to do any other act necessary and proper to carry out the purposes of the corporation.

Source

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1400; Pub. L. 105–354, § 1(9),Nov. 3, 1998, 112 Stat. 3244.)

Historical and Revision Notes Pub. L. 105–225
Revised Section Source (U.S. Code) Source (Statutes at Large)
151305(a)
36:5202(g)(1)(B), (C).
Oct. 26, 1992, Pub. L. 102–522, title II, §§ 203(g)(1)(B), (C), 204(b), (c)(1), (2) (words before 2d comma), (3)–(5), 106 Stat. 3418, 3419.
36:5203(b).
151305(b)
36:5203(c)(1), (2) (words before 2d comma), (3)–(5).

Subsection (a)(1) is substituted for 36:5202(g)(1)(B) for consistency in the revised title. The words “consistent with this chapter” are omitted as unnecessary.
Subsection (a)(2) is substituted for 36:5203(b) for consistency in the revised title.
Subsection (a)(3) is substituted for 36:5202(g)(1)(C) for consistency in the revised title.
In subsection (b), before clause (1), the words “under section 5201 of this title” and “in addition to the powers otherwise given it under this chapter” are omitted as unnecessary. In clause (1), the words “real or personal” are omitted as unnecessary and for consistency in the revised title. In clause (4), the words “and complain and defend itself in any court of competent jurisdiction” are omitted as unnecessary. In clause (5), the words “any other act” are substituted for “any and all acts” to eliminate unnecessary words.
Pub. L. 105–354

This amends section 151305 (b) of title 36 to correct an inconsistency in the revised title.
Amendments

1998—Subsec. (b). Pub. L. 105–354struck out “the State of” before “Maryland” in introductory provisions.

 

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