2015 US Code
Title 15 - Commerce and Trade (Sections 1 - 8405)
Chapter 13 - Textile Foundation (Sections 501 - 506)
Sec. 504 - Powers of Foundation

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Publication TitleUnited States Code, 2012 Edition, Supplement 3, Title 15 - COMMERCE AND TRADE
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 15 - COMMERCE AND TRADE
CHAPTER 13 - TEXTILE FOUNDATION
Sec. 504 - Powers of Foundation
Containssection 504
Date2015
Laws In Effect As Of DateJanuary 3, 2016
Positive LawNo
Dispositionstandard
Source CreditJune 10, 1930, ch. 440, §4, 46 Stat. 540.
Statutes at Large Reference46 Stat. 540

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15 U.S.C. § 504 (2015)

§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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