2016 US Code
Title 15 - Commerce and Trade
Chapter 13 - Textile Foundation
Sec. 504 - Powers of Foundation

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Citation 15 U.S.C. § 504 (2016)
Section Name §504. Powers of Foundation
Section Text

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.

Source Credit

(June 10, 1930, ch. 440, §4, 46 Stat. 540.)

Publication Title United States Code, 2012 Edition, Supplement 4, Title 15 - COMMERCE AND TRADE
Category Bills and Statutes
Collection United States Code
SuDoc Class Number Y 1.2/5:
Contained Within Title 15 - COMMERCE AND TRADE
CHAPTER 13 - TEXTILE FOUNDATION
Sec. 504 - Powers of Foundation
Contains section 504
Date 2016
Laws In Effect As Of Date January 6, 2017
Positive Law No
Disposition standard
Statutes at Large Reference 46 Stat. 540
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