
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 36USC40505]

 
     TITLE 36--PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND 
                              ORGANIZATIONS
 
            Subtitle II--Patriotic and National Organizations
 
                          Part B--Organizations
 
 CHAPTER 405--CONGRESSIONAL MEDAL OF HONOR SOCIETY OF THE UNITED STATES 
                               OF AMERICA
 
Sec. 40505. 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, and agents as the activities of 
    the corporation require;
        (4) charge and collect membership dues;
        (5) make contracts;
        (6) acquire, own, lease, encumber, and transfer property as 
    necessary or convenient to carry out the purposes of the 
    corporation;
        (7) borrow money, issue instruments of indebtedness, and secure 
    its obligations by granting security interests in its property;
        (8) sue and be sued; and
        (9) do any other act necessary and proper to carry out the 
    purposes of the corporation.

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1333.)

                                          Historical and Revision Notes
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           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
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40505.................................  36:794.                          Aug. 1
4, 1958, Pub. L. 85-642, Secs.
                                                                          4, 16
, 72 Stat. 598, 601.
                                        36:806.
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    In this section, the text of 36:806 is omitted as executed and 
obsolete.
    In clause (1), the words ``apply, and alter'' and ``not inconsistent 
with the laws of the United States of America or any State in which the 
corporation is to operate'' are omitted as [un]necessary.
    In clause (2), the word ``use'' is omitted as unnecessary.
    In clause (5), the words ``make contracts'' are substituted for 
``contract and be contracted with'' to eliminate unnecessary words.
    Clause (6) is substituted for ``take and hold by lease, gift, 
purchase, grant, devise, bequest or otherwise any property real, 
personal, or mixed, necessary or convenient for attaining the objects of 
the corporation'' and ``transfer, lease, or convey real or personal 
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 real 
and personal property which may be held by, or, (b) otherwise limiting 
or controlling the ownership of real and personal property by, a 
corporation operating in such State'' are omitted as unnecessary.
    In clause (7), the words ``issue instruments of indebtedness, and 
secure its obligations by granting security interests in its property'' 
are substituted for ``issue bonds or other evidences of indebtedness 
therefor and secure the same by mortgage or pledge'' for consistency in 
the revised title. The words ``for the purposes of the corporation'' and 
``subject to applicable Federal or State laws'' are omitted as 
unnecessary.
    In clause (8), the words ``complain and defend in any court of 
competent jurisdiction'' are omitted as unnecessary.
