Page:United States Statutes at Large Volume 112 Part 2.djvu/542

 112 STAT. 1426 PUBLIC LAW 105-225—AUG. 12, 1998 (2) The manner of election, term of office, and duties of the officers are as provided in the bylaws. §153505. Powers The corporation may— (1) adopt and amend bylaws for the management of its property and the regulation of its affairs; (2) adopt and alter a corporate seal; (3) choose officers, trustees, managers, employees, and agents as the activities of the corporation require; (4) make contracts; (5) acquire, own, lease, encumber, and transfer property as necessary or proper to carry out the purposes of the corporation; (6) borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property; (7) sue and be sued; and (8) do any other act necessary and proper to carry out the purposes of the corporation. §153506. Exclusive right to name The corporation has the exclusive right to use and to allow others to use the name "National Tropical Botanical Garden". §153507. Restrictions (a) STOCK AND DIVIDENDS. — The corporation may not issue stock or declare or pay a dividend. (b) POLITICAL ACTIVITIES. — The corporation or a trustee or officer as such may not contribute to, support, or assist a political party or candidate for elective 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 trustee, officer, or member during the life of the corporation or on its dissolution or final liquidation. This subsection does not prevent the payment of reasonable compensation to an officer or reimbursement for actual necessary expenses in amounts approved by the board of trustees. (d) LOANS.— The corporation may not make a loan to a trustee, officer, or employee. Trustees who vote for or assent to making a loan to a trustee, 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. § 153508. Principal office and location of activities and gardens (a) PRINCIPAL OFFICE.— The principal office of the corporation shall be in the District of Columbia or another place decided by the board of trustees. (b) LOCATION OF ACTIVITIES AND GARDENS. —The activities of the corporation may be conducted anywhere. However, the corporation may establish tropical botanical gardens only in the United States and its territories and possessions. § 153509. Records and inspection (a) RECORDS.—The corporation shall keep— (1) correct and complete records of account;

�