
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: 36USC70505]

 
     TITLE 36--PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND 
                              ORGANIZATIONS
 
            Subtitle II--Patriotic and National Organizations
 
                          Part B--Organizations
 
       CHAPTER 705--THE FOUNDATION OF THE FEDERAL BAR ASSOCIATION
 
Sec. 70505. Powers

    The corporation may--
        (1) adopt and amend 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) make contracts;
        (5) acquire, own, lease, encumber, and transfer property as 
    necessary 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;
        (7) sue and be sued; and
        (8) do any other act necessary and proper to carry out the 
    purposes of the corporation.

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1352.)

                                          Historical and Revision Notes
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           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
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70505.................................  36:574.                          Aug. 2
4, 1954, ch. 911, Secs.  4, 18,
                                                                          68 St
at. 797, 800.
                                        36:588.
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---------------------------------

    In this section, the definition of ``State'' in 36:588 is omitted 
because the word ``State'' (which in the source provisions for this 
chapter only appears in 36:574) is not used in the revised chapter.
    In clause (1), the words ``apply, and administer'' 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 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.
    In clause (4), the words ``make contracts'' are substituted for 
``contract and be contracted with'' to eliminate unnecessary words.
    Clause (5) is substituted for ``take and hold by lease, gift, 
purchase, grant, devise, bequest, or otherwise, any property, real or 
personal, or mixed, necessary for carrying into effect the purposes 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 to applicable provisions of law 
of any State (1) governing the amount or kind of real and personal 
property which may be held by, or (2) otherwise limiting or controlling 
the ownership of real and personal 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 or other evidences of 
indebtedness therefor, and secure the same by mortgage or pledge'' for 
consistency in the revised title. The words ``subject to applicable 
Federal or State laws'' are omitted as unnecessary.
    In clause (7), the words ``complain and defend in any court of 
competent jurisdiction'' are omitted as unnecessary.
    In clause (8), the words ``any other act'' are substituted for ``any 
and all acts'' for consistency in the revised title and to eliminate 
unnecessary words.
