Page:United States Statutes at Large Volume 112 Part 2.djvu/450

 112 STAT. 1334 PUBLIC LAW 105-225 —AUG. 12, 1998 (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. §40506. 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 participate in any political activity or in any manner attempt to influence legislation. (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 subsection does not prevent the payment of— (1) expenses of officers of the corporation in amounts approved by the board of directors; or (2) appropriate aid to individuals to whom the Medal of Honor has been awarded, their widows, or their children, to carry 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. §40507. Principal office The principal office of the corporation shall be in the District of Columbia or another place decided by the board of directors. However, the activities of the corporation are not confined to the place where the principal office is located but may be conducted throughout the States, territories, and possessions of the United States. § 40508. Records and inspection (a) RECORDS. — The corporation shall keep— (1) correct and complete records of account; (2) minutes of the proceedings of its members, board of directors, and committees having any of the authority of its board of directors; and (3) at its principal office, a record of the names and addresses of its members entitled to vote. (b) INSPECTION.— ^A member entitled to vote, or an agent or attorney of the member, may inspect the records of the corporation for any proper purpose, at any reasonable time. § 40509. Service of process The corporation shall have a designated agent in the District of Columbia to receive service of process for the corporation. Notice

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