§ 504. — Powers of Foundation.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC504]
TITLE 15--COMMERCE AND TRADE
CHAPTER 13--TEXTILE FOUNDATION
Sec. 504. Powers of Foundation
The corporation--
(a) Shall have perpetual succession;
(b) May sue and be sued;
(c) May adopt a corporate seal and alter it at pleasure;
(d) May adopt and alter bylaws;
(e) May appoint officers and agents;
(f) May acquire by purchase, devise, bequest, gift, or otherwise,
and hold, encumber, convey, or otherwise dispose of, such real and
personal property as may be necessary or appropriate for its corporate
purposes;
(g) May invest and reinvest the principal and interest of its funds;
and
(h) Generally, may do any and all lawful acts necessary or
appropriate to carry out the purposes for which the corporation is
created.
(June 10, 1930, ch. 440, Sec. 4, 46 Stat. 540.)
