Page:United States Statutes at Large Volume 68 Part 1.djvu/829

 68 S T A T. ]

PUBLIC LAW 662-AUG. 24, 1954

with this charter, and the doing of such other acts as may be necessary for such purpose. OBJECTS AND PURPOSES OF CORPORATION

SEC. 3. The objects and purposes of the corporation are as follows: (1) To receive and hold by bequest, devise, gift, grant, purchase, lease, or otherwise, either absolutely or jointly with any other person or persons or corporation, for any of the purposes hereinafter set forth, any property, real, personal, or mixed, or any undivided interest therein; to convey, sell, or otherwise dispose of such property, and to invest, reinvest, administer, and deal with the same in such manner as in the judgment of the directors of the corporation will best promote the purposes of the corporation, but without and free from restrictions applicable to trustees or trust funds, (2) To apply its income, and if the corporation so decides, all or any part of its principal, exclusively to the following educational, charitable, scientific, or literary purposes, or any of them: (a) To advance the science of jurisprudence; (b) To uphold high standards for the Federal judiciary and for attorneys representing the Government of the United States; (c) To promote and improve the administration of justice, including the study of means for the improved handling of the legal business of the several Federal departments and establishments; (d) To facilitate the cultivation and diffusion of knowledge and understanding of the law and the promotion of the study of the law and the science of jurisprudence and research therein, through the maintenance of a law library, the establishment of seminars, lectures, and studies devoted to the law, and the publication of addresses, essays, treatises, reports and other literary works by students, practitioners, and teachers of the law; and (e) To provide for the acquisition, preservation and exhibition of rare books and documents, sculptures, paintings and other objects of art and historical interest relating to the law, the courts and the legal profession, (3) To do any and all things necessary or incident to the accomplishment of the foregoing purposes. CORPORATE POWERS

SEC, 4. The corporation shall have the following powers: (a) To sue and be sued, complain and defend in any court of competent jurisdiction. (b) To adopt, alter, and use a corporate seal. (c) To choose such officers, managers, and agents as the business of the corporation may require. (d) To adopt, amend, apply, and administer bylaws, not inconsistent with the laws of the United States of America or any State in which the corporation is to operate, for the management of its property and the regulation of its affairs. (e) To contract and be contracted with. (f) To take and hold by lease, gift, purchase, grant, devise, bequest, or otherwise, any property, real or personal, or mixed, necessary for carrying into effect the purposes of the corporation, subject to applicable provisions of law of any State (1) governing the amount or kind of real and personal property which may be held by, or (2) otherwise limiting or controlling the ownership of real and personal property by, a corporation operating in such State.

797

�