§3932 — Title 42 The Public Health and Welfare | U.S. Code

Summary

A private, for-profit company can be created. It will not be a U.S. government agency. The company must follow the rules in this chapter and, when they apply, the District of Columbia Business Corporation Act. The President may create more such companies if it serves the national interest, and the same rules apply to them and to any limited partnerships they form; private people may also create other companies or partnerships for the same purposes.

Title 42, §3932

The Public Health and Welfare — Source: USLM XML via OLRC

(a)There is hereby authorized to be created a private corporation for profit (hereinafter in this chapter referred to as the “corporation”). The corporation will not be an agency or establishment of the United States Government. The corporation shall be subject to the provisions of this chapter and, to the extent consistent with this chapter, to the District of Columbia Business Corporation Act.

(b)Whenever the President finds it in the national interest to do so, he may cause the creation of an additional corporation or additional corporations to carry out the purposes of this chapter. All the provisions of this chapter shall thereupon become applicable to each such corporation, and to the limited partnership formed by it pursuant to section 3937 of this title.

(c)Nothing in this chapter shall be construed to preclude private persons from creating other corporations and organizing other partnerships, joint ventures, or associations for the purposes set forth in this chapter as the purposes of the corporation and the partnership described in section 3937 of this title.

Editorial Notes

References in Text

The District of Columbia Business Corporation Act, referred to in subsec. (a), is act June 8, 1954, ch. 269, 68 Stat. 179, which is not classified to the Code.

§3932 Creation of corporations

Summary

Title 42, §3932

Notes & Related Subsidiaries

Editorial Notes

References in Text

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