There Is a Newer Version
of
the U.S. Code
2012 U.S. Code
Title 15 - Commerce and Trade
Chapter 13 - TEXTILE FOUNDATION (§§ 501 - 506)
Section 504 - Powers of Foundation
TEXTILE FOUNDATION - 15 U.S.C. § 504 (2012)
§504. Powers of Foundation
The corporation—
(a) Shall have perpetual succession;
(b) May sue and be sued;
(c) May adopt a corporate seal and alter it at pleasure;
(d) May adopt and alter bylaws;
(e) May appoint officers and agents;
(f) May acquire by purchase, devise, bequest, gift, or otherwise, and hold, encumber, convey, or otherwise dispose of, such real and personal property as may be necessary or appropriate for its corporate purposes;
(g) May invest and reinvest the principal and interest of its funds; and
(h) Generally, may do any and all lawful acts necessary or appropriate to carry out the purposes for which the corporation is created.
(June 10, 1930, ch. 440, §4, 46 Stat. 540.)
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