Page:United States Statutes at Large Volume 98 Part 2.djvu/199

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PUBLIC LAW 98-000—MMMM. DD, 1984

PUBLIC LAW 98-391—AUG. 21, 1984

98 STAT. 1359

SERVICE OF PROCESS

SEC. 4. With respect to service of process, the corporation shall 36 USC 2704. 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

SEC. 5. Eligibility for membership in the corporation and the 36 USC 2705. rights and privileges of members shall, except as provided in this Act, be as provided in the bylaws and constitution of the corporation. BOARD OF DIRECTORS; COMPOSITION; RESPONSIBILITIES

SEC. 6. The board of directors of the corporation and the responsi- 36 USC 2706. bilities 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

SEC 7. The officers of the corporation, and the election of such 36 USC 2707. 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

SEC. 8. (a) No part of the income or assets of the corporation shall 36 USC 2708. 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, direc. • • S; tor, 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. LIABILITY

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

36 USC 2709.