Page:United States Statutes at Large Volume 112 Part 2.djvu/506

 112 STAT. 1390 PUBLIC LAW 105-225—AUG. 12, 1998 Except as provided in this chapter, eligibility for membership in the corporation and the rights and privileges of members are as provided in the bylaws and regulations of the corporation. §150505. Governing body (a) BOARD OF REPRESENTATIVES. —(1) The board of representatives is the governing body of the corporation. The board shall exercise the powers granted to the corporation. (2) The board consists of one representative from each State society and territorial society in the District of Columbia. Each member of the board has one vote. (b) OFFICERS. —(1) The officers of the corporation are a president, a first vice president, a second vice president, a secretary, an assistant secretary, a treasurer, an assistant treasurer, a historian, and other officers designated by the board. (2) The officers shall be elected by the board at an annual meeting and serve for a term of 1 year. §150506. Powers The corporation has the powers provided in its bylaws and articles of incorporation filed in the State in which it is incorporated, including the power to— (1) adopt bylaws and regulations for the management of its property and the regulation of its affairs; (2) adopt and alter a corporate seal; (3) adopt emblems and badges; (4) choose officers, managers, and agents as the activities of the corporation require; (5) make contracts; (6) acquire, own, lease, encumber, and transfer property as necessary 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) publish a magazine, newspaper, and other publications consistent with the purposes of the corporation; (9) sue and be sued; and (10) do any other act necessary and proper to carry out the purposes of the corporation. §150507. Exclusive right to name, seals, emblems, and badges The corporation has the exclusive right to use the name "National Conference of State Societies, Washington, District of Columbia" and seals, emblems, and badges the corporation adopts. §150508. Restrictions (a) STOCK AND DIVIDENDS. — The corporation may not issue stock or declare or pay a dividend. (b) POLITICAL ACTIVITIES. —The corporation or an officer or member as such may not contribute to, support, or assist a political party or candidate for elective public office. The corporation may not carry on propaganda. (c) DISTRIBUTION OF INCOME OR ASSETS. —The income or assets of the corporation may not inure to the benefit of, or be distributed to, an officer or member except on dissolution or final liquidation of the corporation.

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