Page:United States Statutes at Large Volume 112 Part 2.djvu/449

 PUBLIC LAW 105-225 —AUG. 12, 1998 112 STAT. 1333 (c) PERPETUAL EXISTENCE. —Except as otherwise provided, the corporation has perpetual existence. §40502. Purposes The purposes of the corporation are— (1) to form a bond of friendship and comradeship among all holders of the Medal of Honor as presented by Congress; (2) to protect, uphold, and preserve the dignity and honor of the medal at all times and on all occasions; (3) to protect the name of the medal and individual holders of the medal from exploitation; (4) to provide appropriate aid to all persons to whom the medal has been awarded, their widows, or their children; (5) to serve our country in peace as in war; (6) to inspire and stimulate our youth to become worthy citizens of our country; and (7) to foster and perpetuate Americanism. §40503. Membership (a) ELIGIBILITY.—An individual who has been awarded the Medal of Honor as presented by Congress is eligible for membership in the corporation. An honorary membership may not be granted. (b) VOTING.— Each member has one vote on each matter submitted to a vote at a meeting of the members. The vote may be cast in person or by proxy. §40504. Governing body (a) BOARD OF DIRECTORS.— (1) The board of directors is the governing body of the corporation. The board may exercise, or provide for the exercise of, the powers of the corporation. (2) The number of directors, their manner of election (including the filling of vacancies), and their term of office are as provided in the bylaws. However, the board shall have at least 9 directors. (3) The board shall meet at least annually. Each director has one vote on matters decided by the board. (4) The president of the corporation is the chairman of the board. (b) OFFICERS. —(1) The officers of the corporation are a president, an executive vice president, a secretary, a treasurer, and 6 regional vice presidents as provided in the bylaws. The offices of secretary and treasurer may be combined and held by the same individual, but an individual holding those combined offices has only one vote as a director. (2) The manner of election, term of office, duties, and powers of the officers are as provided in the bylaws. §40505. 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; ^ 59-194O-98 - 15:QL3Part2

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