Page:United States Statutes at Large Volume 112 Part 2.djvu/600

From Wikisource
Jump to: navigation, search
This page needs to be proofread.


112 STAT. 1484 PUBLIC LAW 105-225—AUG. 12, 1998 (2) The board shall consist of at least 7 members elected in the manner and for the term provided in the constitution and bylaws. (c) OFFICERS.— (1) The officers of the corporation are a national commander, a national senior vice commander, a national junior vice commander, a national quartermaster, a national adjutant, a national judge advocate, 9 regional vice commanders, and other officers as provided in the constitution and bylaws. One individual may hold the offices of national quartermaster and national adjutant. (2) The titles, manner of selection, term of office, and duties of the officers are as provided in the constitution and bylaws. §230305. Powers The corporation may— (1) adopt and amend a constitution and bylaws for the management of its property and the regulation of its affairs; (2) adopt and alter a corporate seal; (3) choose officers, managers, employees, and agents as ^ the activities of the corporation require; (4) make contracts; (5) acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out the purposes of the corporation; (6) borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property; (7) sue and be sued; and (8) do any other act necessary and proper to carry out the purposes of the corporation. §230306. Exclusive right to name, seals, emblems, and badges The corporation and its subordinate divisions have the exclusive right to use the name Veterans of World War I of the United States of America, Incorporated". The corporation has the exclusive right to use, and to allow others to use, seals, emblems, and badges the corporation adopts. §230307. Restrictions (a) STOCKS AND DIVIDENDS. — The corporation may not issue stock or declare or pay a dividend. (b) POLITICAL ACTIVITIES. — The corporation or an officer or agent as such may not contribute to, support, or assist a political party or candidate for public office. (c) DISTRIBUTION OF INCOME OR ASSETS. —The income or assets of the corporation may not inure to the benefit of, or be distributed to, an officer or member during the life of the corporation or on its dissolution or final liquidation. This subsection does not prevent the payment of compensation to an officer or reimbursement for actual necessary expenses in amounts approved by the board of administration of the corporation. (d) LOANS.—The corporation may not make a loan or advance to an officer or employee. Members of the board of administration who vote for or assent to making a loan or advance to an officer or employee, and officers who participate in making the loan or