PUBLIC LAW 105-225—AUG. 12, 1998 112 STAT. 1393 of the member agencies and organizations participating in the annual national conference on citizenship, by a majority vote of the agencies and organizations sending delegates to, and participating in, the conference. (c) MEETINGS. —The board shall hold an annual meeting at a time and place as may be provided in the bylaws. The annual report of the board shall be presented at the annual meeting. Special meetings of the board may be called as provided in the bylaws. (d) EXECUTIVE COMMITTEE. — The board shall designate 3 of its own members, who together with the president and the 3 vice presidents constitute the executive committee. When the board is not in session, the executive committee has the powers of the board subject to the board's direction and may authorize the seal of the corporation to be affixed to all papers that require it. (e) EXECUTIVE DIRECTOR AND PROFESSIONAL STAFF. —The executive committee shall select an executive director for the corporation, who shall have the qualifications and terms of employment decided by the committee. The executive director shall nominate other professional staff members, who must be approved by the executive committee. §150706. Powers The corporation may— (1) adopt and amend bylaws and regulations for the management of its property and the regulation of its affairs, including the establishment and maintenance of local and State conferences on citizenship; (2) adopt and alter a corporate seal; (3) adopt emblems and badges; (4) choose officers, managers, employees, and agents as the activities of the corporation require; (5) make contracts; (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) use corporate funds to give prizes or awards to citizens for outstanding contributions toward the achievement of the purposes of the corporation; (9) publish a magazine and other publications consistent with the purposes of the corporation; (10) sue and be sued; and (11) do any other act necessary and proper to carry out the purposes of the corporation. § 150707. Exclusive right to name, seals, emblems, and badges The corporation has the exclusive right to use the name "National Conference on Citizenship" and seals, emblems, and badges the corporation adopts. §150708. Restrictions (a) STOCK AND DIVIDENDS. — The corporation may not issue stock or declare or pay a dividend.
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