Page:United States Statutes at Large Volume 98 Part 1.djvu/286

 98 STAT. 238

PUBLIC LAW 98-314—JUNE 12, 1984 SERVICE OF PROCESS

36 USC 2404.

SEC. 4. With respect to service of process, the corporation shall comply with the laws of the States in which it is incorporated and those States in which it carries on its activities in furtherance of its corporate purposes. MEMBERSHIP

36 USC 2405.

SEC. 5. Eligibility for membership in the corporation and the rights and privileges of members shall, except as provided in this Act, be as provided in the constitution and bylaws of the corporation, and terms of membership and requirements for holding office within the corporation shall not be discriminatory on the basis of race, color, religion, or national origin. BOARD OF DIRECTORS; COMPOSITION; RESPONSIBILITIES

36 USC 2406.

SEC. 6. The board of directors of the corporation and the responsibilities thereof shall be as provided in the articles of incorporation of the corporation and in conformity with the laws of the State or States in which it is incorporated. OFFICERS OF CORPORATION

36 USC 2407.

SEC. 7. The officers of the corporation, and the election of such officers shall be as is provided in the articles of incorporation of the corporation and in conformity with the laws of the State or States wherein it is incorporated. RESTRICTIONS

36 USC 2408.

SEC. 8. (a) No part of the income or assets of the corporation shall inure to any member, officer, or director of the corporation or be distributed to any such person during the life of this charter. Nothing in this subsection shall be construed to prevent the payment of reasonable compensation to the officers of the corporation or reimbursement for actual necessary expenses in amounts approved by the board of directors. (b) The corporation shall not make any loan to any officer, director, or employee of the corporation. (c) The corporation shall have no power to issue any shares of stock nor to declare or pay any dividends. (d) The corporation shall not claim congressional approval or Federal Government authority for any of its activities. (e) The corporation shall retain and maintain its status as a corporation organized and incorporated under the laws of the State or States wherein it is incorporated. LIABILITY

36 USC 2409.

SEC. 9. The corporation shall be liable for the acts of its officers and agents when acting within the scope of their authority. BOOKS AND RECORDS; INSPECTION

36 USC 2410.

SEC. 10. The corporation shall keep correct and complete books and records of account and shall keep minutes of any proceeding of the corporation involving any of its members, the board of directors, or any committee having authority under the board of directors. The

�