1995 US Code
Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 85 - NATIONAL EDUCATION ASSOCIATION OF THE UNITED STATES
Sec. 5303 - Powers of corporation

The said corporation shall further have power to have and to use a common seal, and to alter and change the same at its pleasure; to sue or to be sued in any court of the United States, or other court of competent jurisdiction; to make bylaws not inconsistent with the provisions of this chapter or of the Constitution of the United States; to take or receive, whether by gift, grant, devise, bequest, or purchase, any real or personal estate, and to hold, grant, transfer, sell, convey, hire, or lease the same for the purpose of its incorporation; to accept and administer any trust of real or personal estate for any educational purpose within the objects of the corporation; and to borrow money for its corporate purposes, issue bonds therefor, and secure the same by mortgage, deed of trust, pledge, or otherwise.

(June 30, 1906, ch. 3929, §3, 34 Stat. 805; June 30, 1969, Pub. L. 91–37, §1[(a)], 83 Stat. 42.)

1969—Pub. L. 91–37 amended section generally. Prior to amendment, section read as follows: “The said corporation shall further have power to have and to use a common seal, and to alter and change the same at its pleasure, to sue or to be sued in any court of the United States, or other court of competent jurisdiction; to make by-laws not inconsistent with the provisions of this chapter or of the Constitution of the United States; to take or receive, whether by gift, grant, devise, bequest, or purchase, any real or personal estate, and to hold, grant, convey, hire, or lease the same for the purposes of its incorporation, and to accept and administer any trust of real or personal estate for any educational purpose within the objects of the corporation.”