§ 30904. Powers

• (a) The corporation may—
  • (1) adopt and amend bylaws and regulations, including regulations for the election of associates and successors;
  • (2) adopt and alter a corporate seal;
  • (3) have offices and conduct its activities in the District of Columbia and the States, territories, and possessions of the United States;
  • (4) acquire and own property as necessary to carry out the purposes of the corporation;
  • (5) sue and be sued within the jurisdiction of the United States; and
  • (6) do any other act necessary to carry out this chapter and promote the purpose of the corporation.
• (b)
  • (1) The corporation may execute mortgages and liens on the property of the corporation only if approved by a two-thirds vote of the entire executive board at a meeting called for that purpose.
  • (2) The corporation may dispose in any manner of the whole property of the corporation only with the written consent and affirmative vote of a majority of the members of the corporation.