Page:United States Statutes at Large Volume 112 Part 2.djvu/434

 112 STAT. 1318 PUBLIC LAW 105-225—AUG. 12, 1998 a meeting called for that purpose. A director elected to fill a vacancy serves until the next annual meeting of the corporation. (b) OFFICERS. —The officers of the corporation and their manner of election, term of office, duties, and powers are as provided in the bylaws. §30305. Powers The corporation may— (1) adopt and amend a constitution and 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) charge and collect membership dues; (5) make contracts; (6) acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out the purposes of the corporation; (7) borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property; (8) sue and be sued; and (9) do any other act necessary and proper to carry out the purposes of the corporation. § 30306. Exclusive right to name, seals, emblems, and badges The corporation and its authorized regional groups and other local subdivisions have the exclusive right to use the name "Blinded Veterans Association" and seals, emblems, and badges the corporation adopts. §30307. Restrictions (a) STOCK AND DIVIDENDS. — The corporation may not issue stock or declare or pay a dividend. (b) POLITICAL ACTIVITIES. — The corporation or a director or officer as such may not contribute to, support, or assist a political party or candidate for elective public office. (c) DISTRIBUTION OF INCOME OR ASSETS.— The income or assets of the corporation may not inure to the benefit of, or be distributed to, a director, officer, or member as such during the life of the corporation or on its dissolution or final liquidation. This section does not prevent the payment of— (1) bona fide expenses of officers of the corporation in amounts approved by the board of directors; or (2) appropriate aid to blinded veterans or their widows or children in carrying out the purposes of the corporation. (d) LOANS.—The corporation may not make a loan to a director, officer, or employee. Directors and officers who vote for or assent to making a loan to a director, officer, or employee, and officers who participate in making the loan, are jointly and severally liable to the corporation for the amount of the loan until it is repaid. (e) IMMUNITY FROM LIABILITY. — Members and private individuals are not liable for the obligations of the corporation. §30308. Principal office The principal office of the corporation shall be in the District of Columbia or another place decided by the board of directors.

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