Page:United States Statutes at Large Volume 78.djvu/539

 78 STAT. ]

PUBLIC LAW 88-449-AUG. 19, 1964

(e) to provide a beneficial facility which will contribute to the education, instruction, and recreation of the people of the United States. POWERS o r

CORPORATION

SEC. 4. The corporation shall have the following powers: (a) to sue and be sued, and to complain and defend in any court of competent jurisdiction; (h) to adopt, use, and alter a corporate seal; (c) to choose such trustees, officers, managers, agents, and employees as the activities of the corporation may require; (d) to adopt, amend, and alter bylaws, not inconsistent with the laws of the United States of America or of any State in which the corporation is to operate, or of the District of Columbia, for the management of its property and the regulation of its affairs; (e) to make contracts; (f) to take and hold by lease, gift, purchase, grant, devise, or bequest, or by any other method, any property, real, personal, or mixed, necessary or proper, for attaining the objects and carrying into effect the purposes of the corporation, subject, however, to applicable provisions of law of any State or the District of Columbia (1) governing the amount or kind of such property which may be held by, or (2) otherwise limiting or controlling the ownership or any such property by a corporation operating in such State or the District of Columbia; (g) to transfer, convey, lease, sublease, mortgage, encumber, and otherwise alienate real, personal, or mixed property; and (h) to borrow money for the purposes of the corporation, issue bonds or other evidences of indebtedness therefor, and secure the same by mortgage, deed of trust, pledge, or otherwise, subject in every case to all applicable provisions of the Federal and State laws or to the laws of the District of Columbia; and (i) to do any and all acts and things necessary and proper to carry out the objects and purposes of the corporation. BOARD o r

TRUSTEES

SEC. 5. (a) Upon enactment of this Act, the trustees of the corporation may select additional persons to serve as members of the board of trustees. The total number of trustees shall not exceed fifteen. The incorporators of the corporation shall each serve on the board of trustees for a term of at least three years. (b) Except for the foregoing provision, the board of trustees of the corporation shall be selected in such manner and shall serve for such time as may be prescribed in the bylaws of the corporation. (c) The board of trustees shall be the managing body of the corporation and shall have such powers, duties, and responsibilities as may be prescribed in the bylaws of the corporation. OFFICERS

SEC. 6. (a) The officers of the corporation shall be a president, one or more vice presidents, a secretary, a treasurer, and.such other officers as may be authorized by the bylaws of the corporation. (b) The officers of the corporation shall be elected in such manner and for such terms and with such duties as may be prescribed in the bylaws of the corporation.

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