Page:United States Statutes at Large Volume 112 Part 2.djvu/491

 PUBLIC LAW 105-225—AUG. 12, 1998 112 STAT. 1375 (b) EXTENSION OF ELIGIBILITY TO PARENTS AND DESCENDANTS.— The corporation may extend eligibility for membership, either active or associate, to parents and lineal descendants of an individual described in subsection (a) of this section on terms provided in its constitution and bylaws. (c) VOTING. —Each member (except an associate member) has one vote on each matter submitted to a vote at a meeting of the members. §130304. Governing body (a) BOARD OF DIRECTORS. —(1) The board of directors is the governing body of the corporation. Between meetings of the corporation, the board is responsible for the general policies and program of the corporation. The board is responsible for all funds of the corporation. (2) The number of directors, their manner of selection (including the filling of vacancies), and their term of office are as provided in the constitution and bylaws of the corporation. However, the board shall have at least 10 directors. (b) OFFICERS. — (1) The officers of the corporation are a commander, a senior vice commander, a junior vice commander, a chaplain, an adjutant and quartermaster, a judge advocate, an inspector, a surgeon, a historian, and any aides-de-camp provided in the constitution and bylaws. (2) The manner of election, term of office, and duties of the officers are as provided in the constitution and bylaws. §130305. 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) make contracts; (4) acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out the purposes of the corporation; (5) borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property; (6) charge and collect membership dues; and (7) sue and be sued. §130306. 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, officer, or member except on dissolution or final liquidation of the corporation. This subsection does not prevent the payment of compensation to an officer 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

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