Page:United States Statutes at Large Volume 112 Part 2.djvu/486

 112 STAT. 1370 PUBLIC LAW 105-225—AUG. 12, 1998 (5) borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property; and (6) sue and be sued. §110305. 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 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 or officer. This subsection does not prevent the pay- ment of compensation to an officer or employee in an amount approved by the executive committee of the corporation. (d) LOANS. —The corporation may not make a loan to a director, officer, or employee. Directors 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. §110306. Principal office The principal office of the corporation shall be in the District of Columbia. However, the activities of the corporation are not confined to the District of Columbia but may be conducted throughout the States, territories, and possessions of the United States. § 110307. 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. §110308. Service of process The corporation shall have a designated agent in its headquarters in the District of Columbia to receive service of process for the corporation. Notice to or service on the agent, or mailed to the headquarters of the corporation in the District of Columbia, is notice to or service on the corporation. § 110309. Liability for acts of officers and agents The corporation is liable for the acts of its officers and agents acting within the scope of their authority. §110310. Distribution of assets on dissolution or final liquidation On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be distributed as provided by the board of directors, but in compliance with the constitution and bylaws of the corporation. This section does not

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