
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: 42USC3932]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                CHAPTER 49--NATIONAL HOUSING PARTNERSHIPS
 
Sec. 3932. Creation of corporations


(a) Authorization

    There is hereby authorized to be created a private corporation for 
profit (hereinafter in this chapter referred to as the ``corporation''). 
The corporation will not be an agency or establishment of the United 
States Government. The corporation shall be subject to the provisions of 
this chapter and, to the extent consistent with this chapter, to the 
District of Columbia Business Corporation Act [D.C. Code, Sec. 29-301 et 
seq.].

(b) Creation of additional corporations

    Whenever the President finds it in the national interest to do so, 
he may cause the creation of an additional corporation or additional 
corporations to carry out the purposes of this chapter. All the 
provisions of this chapter shall thereupon become applicable to each 
such corporation, and to the limited partnership formed by it pursuant 
to section 3937 of this title.

(c) Creation of corporations and organization of other partnerships, 
        joint ventures, or associations by private persons

    Nothing in this chapter shall be construed to preclude private 
persons from creating other corporations and organizing other 
partnerships, joint ventures, or associations for the purposes set forth 
in this chapter as the purposes of the corporation and the partnership 
described in section 3937 of this title.

(Pub. L. 90-448, title IX, Sec. 902, Aug. 1, 1968, 82 Stat. 547.)

                       References in Text

    The District of Columbia Business Corporation Act, referred to in 
subsec. (a), is act June 8, 1954, ch. 269, 68 Stat. 179, as amended, 
which appears in chapter 3 (Sec. 29-301 et seq.) of Title 29, 
Corporations, of the District of Columbia Code.
