§ 70106 - Powers

CHAPTER 701— FLEET RESERVE ASSOCIATION

The corporation has only the powers provided in its bylaws and articles of incorporation filed in each State in which it is incorporated.

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 7010636:5602.Sept. 23, 1996, Pub. L. 104–201, title XVIII, § 1802, 110 Stat. 2760.

The words “each State in which it is incorporated” are substituted for “the State of Delaware” for consistency in the revised title. The words “and subject to the laws of such State” are omitted as unnecessary.