Page:United States Statutes at Large Volume 112 Part 2.djvu/437

 PUBLIC LAW 105-225—AUG. 12, 1998 112 STAT. 1321 (b) OFFICERS. —The officers of the corporation and their manner of selection, term of office, and duties are as provided in the constitution and bylaws of the corporation. §30506. 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, employees, and agents as the activities of the corporation require; (4) make contracts; (5) acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out the purposes of the corporation; (6) borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property; (7) sue and be sued; and (8) do any other act necessary and proper to carry out the purposes of the corporation. § 30507. Exclusive right to name, seals, emblems, and badges The corporation and its subordinate divisions have the exclusive right to use the name "Blue Star Mothers of America, Inc.". The corporation has the exclusive right to use, and to allow others to use, seals, emblems, and badges the corporation adopts. §30508. Restrictions (a) STOCK AND DIVIDENDS. —The corporation may not issue stock or declare or pay a dividend. (b) POLITICAL ACTIVITIES.— The corporation or an officer or agent as such may not contribute to a political party or candidate for 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, an officer or member as such during the life of the corporation or on its dissolution or final liquidation. This subsection does not prevent the payment of compensation to an officer or reimbursement for actual necessary expenses in amounts approved by the council of administration of the corporation. (d) LOANS.—The corporation may not make a loan or advance to an officer or employee. Members of the council of administration who vote for or assent to making a loan or advance to an officer or employee, and officers who participate in making the loan or advance, are jointly and severally liable to the corporation for the amount of the loan or advance until it is repaid. §30509. Principal office The principal office of the corporation shall be in the District of Columbia. §30510. Records and inspection (a) RECORDS. — The corporation shall keep— (1) correct and complete records of account; and (2) minutes of the proceedings of its national conventions and council of administration.

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