§ 150302. Powers

• (a) The corporation may—
  • (1) make its own organization, including adopting a constitution, bylaws, and regulations;
  • (2) provide for the election of domestic and foreign members, their division into classes, and other matters needful or usual in such an institution;
  • (3) fill vacancies; and
  • (4) report its actions under this subsection to Congress.
• (b)
  • (1) The corporation may—
    • (A) receive property by devise, bequest, donation, or otherwise;
    • (B) hold the property absolutely or in trust;
    • (C) manage and invest the property as provided in the constitution of the corporation; and
    • (D) use the property and income from the property to carry out the purposes of the corporation, subject to instructions of donors.
  • (2) Congress at any time may limit the amount of real estate the corporation may acquire and the amount of time it may be held.