Page:United States Statutes at Large Volume 112 Part 2.djvu/580

 112 STAT. 1464 PUBLIC LAW 105-225—AUG. 12, 1998 serve at the pleasure of the board. The board shall prescribe the compensation and duties of employees. §220305. 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) choose officers, managers, and agents as the activities of the corporation require; (4) make contracts; (5) acquire, own, lease, encumber, and transfer property as necessary or convenient 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) produce, buy, and market commemorative medals, souvenirs, publications, pictures, and cinemas consistent with the purposes of the corporation; (8) charge and collect membership dues; (9) conduct fund raising campaigns and accept contributions; (10) sue and be sued; and (11) do any other act necessary and proper to carry out the purposes of the corporation. §220306. Exclusive right to name, seals, emblems, insignia, miarks, and words The corporation has the exclusive right to use the name "United States Capitol Historical Society" and seals, emblems, distinctive insignia, and descriptive or designating marks, words, or phrases required to carry out the duties and powers of the corporation. This section does not affect any vested rights. §220307. Tax exemption Notwithstanding section 105 of title 4 of the United States Code or any provision of the District of Columbia Code, the corporation is not required to pay, collect, or account for any tax specified in those provisions in connection with activities conducted within, or on the grounds of, the United States Capitol Building. §220308. Restrictions (a) STOCK AND DIVIDENDS. — The corporation may not issue stock or declare or pay a dividend. (b) 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 as such 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 employee or reimbursement for actual expenses in amounts approved by the board of trustees. (c) LOANS.— The corporation may not make a loan or advance to a trustee, officer, or employee. Trustees who vote for or assent to making a loan or advance to a trustee, officer, or employee, and officers who participate in making the loan or advance, are

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