Page:United States Statutes at Large Volume 102 Part 1.djvu/112

 102 STAT. 74

PUBLIC LAW 100-281—APR. 6, 1988 corporation shall be as provided in the constitution and bylaws of the corporation. BOARD OF D I R E C TO R S; COMPOSITION; RESPONSIBILITIES

36 USC 4006.

SEC. 6. Except as provided in section 8, the composition of the board of directors of the corporation and the responsibilities of such board shall be as provided in the articles of incorporation of the corporation and in conformity with the laws of the State in which it is incorporated. OFFICERS OF CORPORATION

36 USC 4007.

SEC. 7. Except as provided in section 8, the positions of officers of the corporation and the election of memlbers to such positions shall be as provided in the articles of incorporation of the corporation and in conformity with the laws of the State in which it is incorporated. NONDISCRIMINATION

36 USC 4008.

SEC. 8. In establishing the conditions of membership in the corporation 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, handicap, age, or national origin. RESTRICTIONS

36 USC 4009.

SEC. 9. (a) No part of the income or assets of the corporation may inure to the benefit of any member, officer, or director of the corporation or be distributed to any such individual 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 may 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 the authorization of the Federal Government for any of its activities by virtue of this Act. LIABILITY

36 USC 4010.

SEC. 10. The corporation shall be liable for the acts of its officers and agents whenever such officers and agents have acted within the scope of their authority. BOOKS AND RECORDS; INSPECTION

36use4011.

SEC. 11. The corporation shall keep correct and complete.books and records of account and minutes of any proceeding of the corporation involving any of its members, the board of directors, or any committee having authority under the board of directors. The corporation shall keep, at its principal office, a record of the names and addresses of all members having the right to vote in any proceeding of the corporation. All books and records of such corporation may be inspected by any member having the right to vote in any corporation proceeding, or by any agent or attorney of such member, for

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