36 U.S. Code § 70906 - Powers

The corporation may—
(1) adopt and amend bylaws and regulations for the management of its property and the regulation of its affairs, including the establishment and maintenance of local chapters and State associations of chapters;
(2) adopt and alter a corporate seal;
(3) adopt emblems and badges;
(4) choose officers, managers, agents, and employees as the activities of the corporation require;
(5) make contracts;
(6) acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out the purposes of the corporation;
(7) borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property;
(8) use corporate funds to give prizes, awards, loans, and grants to deserving students and young farmers to carry out the purposes of the corporation;
(9) publish a magazine and other publications;
(10) procure for and distribute to State associations, local chapters, and members all official Future Farmers of America supplies and equipment;
(11) sue and be sued; and
(12) 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. 1357.)

Historical and Revision Notes
Revised Section Source (U.S. Code) Source (Statutes at Large)
70906
36:274.
Aug. 30, 1950, ch. 823, §§ 4, 19, 64 Stat. 564, 567.
36:289.

In this section, the text of 36:289 is omitted as executed and obsolete.
In clause (1), the word “amend” is substituted for “alter” for consistency in the revised title. The words “not inconsistent with the laws of the United States or any State in which such corporation is to operate” are omitted as unnecessary.
In clause (2), the word “use” is omitted as unnecessary.
In clause (5), the words “make contracts” are substituted for “contract and be contracted with” to eliminate unnecessary words.
Clause (6) is substituted for “to take and hold by lease, gift, purchase, grant, devise, or bequest any property, real or personal, necessary for attaining the objects and accomplishing the purposes of the corporation” and “to transfer and convey real or personal property” for consistency in the revised title and to eliminate unnecessary words. The words “subject to applicable provisions of law of any State (A) governing the amount or kind of real and personal property which may be held by, or (B) otherwise limiting or controlling the ownership of real and personal property by, a corporation operating in such State” are omitted as unnecessary.
In clause (7), 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” for consistency in the revised title. The words “subject to all applicable provisions of Federal or State law” are omitted as unnecessary.
In clause (8), the words “to carry out the purposes of the corporation” are substituted for “for the purposes set forth in section 273 of this title” for consistency in the revised title.
In clause (11), the words “complain, and defend in any court of competent jurisdiction” are omitted as unnecessary.
In clause (12), the words “any other act” are substituted for “any and all acts and things” for consistency in the revised title and to eliminate unnecessary words. The word “objects” is omitted as included in “purposes”.

 

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