Page:United States Statutes at Large Volume 112 Part 2.djvu/442

 112 STAT. 1326 PUBLIC LAW 105-225—AUG. 12, 1998 (6) do any other act necessary to carry out this chapter and promote the purpose of the corporation. (b) LIMITATIONS ON EXERCISING CERTAIN POWERS.—(1) The corporation may execute mortgages and Hens on the property of the corporation only if approved by a two-thirds vote of the entire executive board at a meeting called for that purpose. (2) The corporation may dispose in any manner of the whole property of the corporation only with the written consent and affirmative vote of a majority of the members of the corporation. §30905. Exclusive right to emblems, badges, marks, and words The corporation has the exclusive right to use emblems, badges, descriptive or designating marks, and words or phrases the corporation adopts. This section does not affect any vested rights. §30906. Restrictions (a) PROFIT.— The corporation may not operate for pecuniary profit to its members. (b) STOCKS AND DIVIDENDS. — The corporation may not issue stock or declare or pay a dividend. § 30907. Annual and special meetings (a) ANNUAL MEETINGS. —The corporation shall hold an annual meeting at a time and place as provided in the bylaws. At the meeting, the annual reports of the officers and executive board shall be presented, and members of the board shall be elected for the next year. (b) SPECIAL MEETINGS.—Special meetings of the corporation may be called on notice as provided in the bylaws. (c) QUORUM. — The number of members necessary for a quorum at an annual or special meeting shall be prescribed in the bylaws. (d) LOCATIONS. — The members and the executive board may hold meetings and keep the seal and records of the corporation in or outside the District of Columbia. §30908. Annual report Not later than April 1 of each year, the corporation shall submit a report to Congress on the activities of the corporation during the prior calendar year. CHAPTER 311—BOYS & GIRLS CLUBS OF AMERICA Sec. 31101. Organization. 31102. Purposes. 31103. Membership. 31104. Governing body. 31105. Powers. 31106. Restrictions. 31107. Principal office. 31108. Records and inspection. 31109. Service of process. 31110. Liability for acts of officers and agents. 31111. Distribution of assets on dissolution or final liquidation. §31101. Organization (a) FEDERAL CHARTER.— Boys & Girls Clubs of America (in this chapter, the "corporation") is a federally chartered corporation.

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