36 U.S. Code § 151305 - Powers
(a) General.— The corporation may—
(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;
Source(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1400; Pub. L. 105–354, § 1(9),Nov. 3, 1998, 112 Stat. 3244.)
|Revised Section||Source (U.S. Code)||Source (Statutes at Large)|
|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(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
1998—Subsec. (b). Pub. L. 105–354struck out “the State of” before “Maryland” in introductory provisions.
LII has no control over and does not endorse any external Internet site that contains links to or references LII.