Page:United States Statutes at Large Volume 73.djvu/115

 73 S T A T. ]

PUBLIC LAW

8 6 - 4 7 - J U N E 17,

1959

inafter referred to as tTie corporation), and by such name, shall be known and have perpetual succession and the powers, limitations, and restrictions herein contained. COMPLETIOX o r

ORGANIZATION

SEC. 2. A majority of the persons named in the first section of this Act, acting in person or by written proxy, are authorized to complete the organization of the corporation by the selection of officers and employees, the adoption of a constitution and bylaws not inconsistent with this Act, and the doing of such other acts as may be necessary for such purpose. PURPOSES OF CORPORATION

SEC. 3. The purposes of the corporation shall be: To perpetuate the memory of the Grand Army of the Republic and of the men who saved the Union in 1861 to 1865; to assist in every practicable way in the preservation and making available for research of documents and records pertaining to the Grand Army of the Republic and its members; to cooperate in doing honor to all those who have patriotically served our country in any way; to teach patriotism and the duties of citizenship, the true history of our country, and the love and honor of our flag; to oppose every tendency or movement that would weaken loyalty to, or make for the destruction or impairment of, our constitutional Union; and to inculcate and broadly sustain the American principles of representative government, of equal rights, and of impartial justice for all. CORPORATE POWERS

SEC. 4. The corporation shall have power— (1) to have succession by its corporate name; (2) to sue and be sued, complain and defend in any court of competent jurisdiction; (3) to adopt, use, and alter a corporate seal; (4) to choose such officers, managers, agents, and employees as the activities of the corporation may require; (5) to adopt, amend, and alter a constitution and bylaws; not inconsistent with the laws of the United States or of any State in which the corporation is to operate, for the management of its property and the regulation of its affairs; (6) to contract and be contracted with; (7) to take by lease, gift, purchase, grant,, devise, or bequest from any public body or agency or any private corporation, association, partnership, firm, or individual and to hold absolutely or in trust for any of the purposes of the corporation any property, real, personal, or mixed, necessary or convenient for attaining the objects and carrying into effect the purposes of the corporation, subject, however, to applicable provisions of law of any State (A) governing the amount or kind of property which may be held by, or (B) otherwise limiting or controlling the ownership of property by, a corporation operating in such State; (8) to transfer, convey, lease, sublease, encumber and otherwise alienate real, personal, or mixed property; (9) to borrow money for the purposes of the corporation, issue bonds therefor, and secure the same by mortgage, deed of trust, pledge or otherwise, subject in every case to all applicable provisions of Federal and State laws; and (10) to do any and all acts and things necessary and proper to carry out the objects and purposes of the corporation.

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