36 U.S. Code § 210104 - Governing body

(a) Board of Trustees.—

A self-perpetuating board of trustees shall manage and direct the property and affairs of the corporation.

(b) Powers.—

The board of trustees may adopt and amend a constitution, bylaws, and regulations for—

(1) the selection of successor trustees;

(2) the admission of members;

(3) the election of officers; and

(4) the conduct of the affairs of the corporation.

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1456.)

Historical and Revision Notes
Revised Section	Source (U.S. Code)	Source (Statutes at Large)
210104	36:4704 (1st par., last par. less regulations for membership).	May 31, 1920, ch. 216, § 4 (1st par., last par. less regulations for membership), 41 Stat. 693.

The text of 36:4704 (2d sentence) is omitted as executed and obsolete.

In subsection (b), before clause (1), the words “adopt and amend” are substituted for “adopt from time to time . . . and alter, amend, or repeal” for consistency in the revised title and to eliminate unnecessary words. The word “rules” is omitted as included in “regulations”.