
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: 42USC3933]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                CHAPTER 49--NATIONAL HOUSING PARTNERSHIPS
 
Sec. 3933. Organization of corporation


(a) Appointment of incorporators; Chairman; initial board of directors

    The President of the United States shall appoint, by and with the 
advice and consent of the Senate, incorporators of the corporation, one 
of whom shall be designated by the President to serve as chairman. The 
incorporators shall serve as the initial board of directors until the 
first annual meeting of stockholders or until their successors are 
elected and have qualified.

(b) Action by incorporators; filing articles of incorporation

    The incorporators shall take whatever actions are necessary or 
appropriate to establish the corporation, including the filing of 
articles of incorporation as approved by the President.

(c) Initial offering of stock in corporation and of interests in 
        partnership; terms of offering

    The incorporators shall also arrange for an initial offering of 
shares of stock in the corporation and of interests in the partnership 
described in section 3937 of this title. If the incorporators deem it 
advisable in order to carry out the purposes of this chapter, the 
initial offering may be made upon terms which require the purchase of 
other securities of the corporation or of interests in such partnership.

(Pub. L. 90-448, title IX, Sec. 903, Aug. 1, 1968, 82 Stat. 547.)
