Page:United States Statutes at Large Volume 100 Part 1.djvu/511

 PUBLIC LAW 99-318—MAY 23, 1986

100 STAT. 475

SERVICE OF PROCESS

SEC. 4. With respect to service of process, the corporation shall comply with the laws of the State in which it is incorporated and those States in which it carries on its activities in furtherance of its corporate purposes.

36 USC 3804.

MEMBERSHIP

SEC. 5. Except as provided in section 8, eligibility for membership 36 USC 3805. in the corporation and the rights and privileges of members shall be as provided in the constitution and bylaws of the corporation. BOARD OF DIRECTORS

SEC. 6. Except as provided in section 8, the board of directors of 36 USC 3806. the corporation, and the responsibilities of the board, shall be as provided in the constitution and bylaws of the corporation and in conformity with the laws of the State in which it is incorporated. OFFICERS

SEC. 7. Except as provided in section 8, the officers of the corporation, and the election of such officers, shall be as provided in the constitution and bylaws of the corporation and in conformity with the laws of the State in which it is incorporated.

36 USC 3807.

NONDISCRIMINATION

SEC. 8. In establishing the conditions of membership in the cor- 36 USC 3808. poration and in determining the requirements for serving on the board of directors or as an officer of the corporation, the corporation may not discriminate on the basis of race, color, religion, sex, national origin, handicap, or age. RESTRICTIONS ON CORPORATE POWERS

SEC. 9. (a) No part of the income or assets of the corporation shall 36 USC 3809. inure to any person who is a member, officer, or director of the corporation or be distributed to any such person during the life of this charter. Nothing in this subsection shall be construed to prevent the payment of reasonable compensation to the officers of the corporation or reimbursement for actual necessary expenses in amounts approved by the board of directors. (b) The corporation shall not make any loan to any officer, director, or employee of the corporation. (c) The corporation shall have no power to issue any shares of stock nor to declare or pay any dividends. (d) The corporation shall not claim congressional approval or Federal Government authority by virtue of this Act for any of its activities. LIABILITY FOR ACTS OF OFFICERS AND AGENTS

SEC. 10. The corporation shall be liable for the acts of its officers and agents when acting within the scope of their authority.

36 USC 3810.

BOOKS AND RECORDS; INSPECTION

SEC. 11. The corporation shall keep correct and complete books 36 USC 3811. and records of accounts and shall keep minutes of any proceeding of

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