Page:United States Statutes at Large Volume 112 Part 2.djvu/492

 112 STAT. 1376 PUBLIC LAW 105-225—AUG. 12, 1998 in making the loan, are jointly and severally liable to the corporation for the amount of the loan until it is repaid. §130307. Principal office The principal office of the corporation shall be in a 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. § 130308. 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. § 130309. Service of process The corporation shall have a designated agent in the District of Columbia to receive service of process for the corporation. Notice to or service on the agent, or mailed to the business address of the agent, is notice to or service on the corporation. § 130310. Liability for acts of ofKcers and agents The corporation is liable for the acts of its officers and agents acting within the scope of their authority. § 130311. 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. CHAPTER 1305—LITTLE LEAGUE BASEBALL, INCORPORATED Sec. 130501. Organization. 130502. Purposes. 130503. Membership. 130504. Governing body. 130505. Powers. 130506. Exclusive right to name and emblems. 130507. Restrictions. 130508. Principal office. 130509. Records and inspection. 130510. Statement required in audit report. 130511. Service of process. 130512. Liability for acts of officers and agents. 130513. Distribution of assets on dissolution or final liquidation. §130501. Organization (a) FEDERAL CHARTER.— Little League Baseball, Incorporated (in this chapter, the "corporation"), is a federally chartered corporation.

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