
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 36USC151905]

 
     TITLE 36--PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND 
                              ORGANIZATIONS
 
            Subtitle II--Patriotic and National Organizations
 
                          Part B--Organizations
 
            CHAPTER 1519--NATIONAL FUND FOR MEDICAL EDUCATION
 
Sec. 151905. Powers

    The corporation may--
        (1) adopt and amend a constitution and bylaws for the management 
    of its property and the regulation of its affairs;
        (2) adopt and alter a corporate seal;
        (3) choose officers, managers, employees, and agents as the 
    activities of the corporation require;
        (4) make contracts;
        (5) acquire, own, lease, encumber, and transfer property as 
    necessary or convenient to carry out the purposes of the 
    corporation;
        (6) borrow money, issue instruments of indebtedness, and secure 
    its obligations by granting security interests in its property; and
        (7) sue and be sued.

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1408.)

                                          Historical and Revision Notes
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           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
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151905................................  36:604(2)-(9).                   Aug. 2
8, 1954, ch. 1036, Secs.  4(2)-
                                                                          (9), 
16, 68 Stat. 892, 895.
                                        36:616.
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    In this section, the text of 36:616 is omitted as executed and 
obsolete.
    In clause (1), the word ``alter'' is omitted as included in 
``amend''. The words ``not inconsistent with the laws of the United 
States or any State in which the corporation is to operate'' are omitted 
as unnecessary.
    In clause (2), the word ``use'' is omitted as unnecessary.
    In clause (3), the word ``activities'' is substituted for 
``business'' for consistency in the revised title.
    Clause (5) is substituted for ``take by lease, gift, purchase, 
grant, devise, or bequest from any private corporation, association, 
partnership, firm or individual and to hold any property, real, personal 
or mixed, necessary or convenient for attaining the objects and carrying 
into effect the purposes of the corporation'' and ``transfer, convey, 
lease, sublease, encumber and otherwise alienate real, personal or mixed 
property'' for consistency in the revised title and to eliminate 
unnecessary words. The words ``subject, however, to applicable 
provisions of law of any State (A) governing the amount or kind of 
property which may be held by, or (B) otherwise limiting or controlling 
the ownership of property by, a corporation operating in such State'' 
are omitted as unnecessary.
    In clause (6), the words ``for the purposes of the corporation'' are 
omitted as unnecessary. The words ``issue instruments of indebtedness, 
and secure its obligations by granting security interests in its 
property'' are substituted for ``issue bonds therefor, and secure the 
same by mortgage, deed of trust, pledge or otherwise'' for consistency 
in the revised title. The words ``subject in every case to all 
applicable provisions of Federal and State laws'' are omitted as 
unnecessary.
    In clause (7), the words ``complain and defend in any court of 
competent jurisdiction'' are omitted as unnecessary.
