§210104. Governing body

(a) Board of Trustees.-A self-perpetuating board of trustees shall manage and direct the property and affairs of the corporation.

(b) Powers.-The board of trustees may adopt and amend a constitution, bylaws, and regulations for-

(1) the selection of successor trustees;

(2) the admission of members;

(3) the election of officers; and

(4) the conduct of the affairs of the corporation.

( Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1456 .)

Historical and Revision Notes

Revised Section	Source (U.S. Code)	Source (Statutes at Large)
210104	36:4704 (1st par., last par. less regulations for membership).	May 31, 1920, ch. 216, §4 (1st par., last par. less regulations for membership), 41 Stat. 693 .

The text of 36:4704 (2d sentence) is omitted as executed and obsolete.

In subsection (b), before clause (1), the words "adopt and amend" are substituted for "adopt from time to time . . . and alter, amend, or repeal" for consistency in the revised title and to eliminate unnecessary words. The word "rules" is omitted as included in "regulations".