Page:United States Statutes at Large Volume 93.djvu/1301

 PUBLIC LAW 96-165—DEC. 29, 1979

93 STAT. 1269

Board, the Travelers Aid-International Social Service of America, and other civilian agencies experienced in specialized types of related work, which may be needed adequately to meet particular needs of the members of the Armed Forces, may carry on their historic work of serving the spiritual, religious, social, welfare, educational, and entertainment needs of such men and women and be afforded an appropriate means of participation and financial assistance; to coordinate their programs, and to accept the cooperation of individual citizens in accomplishing its purposes. The corporation shall have such other objects and purposes as are consonant with the above. SEC. 3. CORPORATE POWERS.—The corporation shall have all the 36 USC 1303. powers necessary and proper to accomplish the objects and purposes set forth in section 2. Without limiting the generality of the foregoing, the corporation shall have the following specific powers: (a) To enact and amend bylaws, rules, and regulations for its internal governance and management, not inconsistent with this Act or other provisions of law. (b) To establish, regulate, and terminate State, regional, local, and '; overseas councils, organizations, chapters, or affiliates in such manner and by such rules as it deems appropriate so as to enable it to carry out its powers and accomplish the objects and purposes set forth in section 2. (c) To solicit and raise funds for the accomplishment of its purposes, and to accept gifts, legacies, devises, and support in furtherance thereof. (d) To acquire, hold, and dispose of such real and personal property as may be necessary to carry out the corporate purposes; to sell, mortgage, or lease any of its real property if authorized by its board of governors. (e) To make and enter into contracts. (f) To borrow money for the purposes of the corporation, issue bonds therefor, and secure the same by mortgage, subject in every case to all applicable provisions of Federal and State law. (g) To adopt and alter a corporate seal, emblems, and marks, (h) To choose such officers, representatives, and agents as may be necessary to carry out the corporate purposes. (i) To establish and maintain offices for the conduct of the affairs of the corporation. (j) To publish a newspaper, magazine, or other publications. (k) To sue and be sued in any court. (1) To do any and all acts and things necessary and proper to accomplish the foregoing specifically enumerated purposes. SEC. 4. RESTRICTIONS ON CORPORATE POWERS.—(a) The corporation 36 USC 1304. shall be nonpolitical and, as an organization, shall not furnish financial aid or assistance to, or otherwise promote the candidacy of, any person seeking elective public office. No substantial part of the activities of the corporation shall involve carrying on propaganda, or otherwise attempting to influence legislation. (b) The corporation shall have no power to issue any shares of capital stock, or to declare or pay any dividends. It shall also have no power to engage in any business activity for pecuniary profit unless the activity is substantially related to the carrying out of its objects and purposes, as set forth in section 2, or the raising of funds for the accomplishment of said purposes. (c) The property of the corporation is irrevocably dedicated to charitable purposes. Upon dissolution or final liquidation of the corporation, after discharge or satisfaction of all outstanding obligations and liabilities, its remaining assets, if any, shall be distributed

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