§170104. Powers

(a) Specific Powers.-The corporation may-

(1) adopt and amend a constitution and bylaws;

(2) adopt and alter a corporate seal, emblems, and badges;

(3) choose officers, representatives, and agents as necessary to carry out the purposes of the corporation;

(4) make contracts;

(5) accept gifts, legacies, and devises that will further the purposes of the corporation;

(6) acquire, own, lease, encumber, and transfer property as necessary to carry out the purposes of the corporation;

(7) borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property;

(8) establish, regulate, and discontinue subordinate State and regional organizations and local chapters or posts;

(9) establish and maintain offices to conduct the affairs of the corporation;

(10) publish a magazine, newspaper, and other publications;

(11) sue and be sued; and

(12) do any other act necessary and proper to carry out the purposes of the corporation.

(b) Privileges of Other National Veterans' Organizations.-Privileges granted to other national veterans' organizations as a result of their being incorporated by Congress are also granted to the corporation.

( Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1440 .)

In subsection (a)(1), the word "amend" is substituted for "alter" for consistency in the revised title. The words "not inconsistent with law" are omitted as unnecessary.

In subsection (a)(6), the words "acquire, own, lease, encumber, and transfer" are substituted for "acquire, hold, and dispose of" for consistency in the revised title. The words "such real and personal" and "as may be" are omitted as unnecessary.

In subsection (a)(7), the words "for the purposes of the corporation" are omitted as unnecessary. The words "issue instruments of indebtedness, and secure its obligations by granting security interests in its property" are substituted for "issue bonds therefor, and secure the same by mortgage" for consistency in the revised title. The words "subject in every case to all applicable provisions of Federal and State law" are omitted as unnecessary.

In subsection (a)(12), the words "any other act" are substituted for "any and all acts and things" for consistency in the revised title and to eliminate unnecessary words. The words "objects and" are omitted as unnecessary.

In subsection (b), the words "Such provisions", "and prerogatives", "heretofore", and "hereby" are omitted as unnecessary.