15 U.S.C. § 6756: Powers

Summary

Besides the powers allowed by the District of Columbia Nonprofit Corporation Act, the Association can set and collect membership fees to cover its costs, make and change bylaws, rules, and standards for how it works, and create notice-and-comment procedures under section 6755(a). It can sign agreements it needs, hire staff and officers and set their pay, duties, and qualifications, make personnel policies (including conflict-of-interest rules), borrow money, and get start-up funding that counts as loans the Association must repay with interest at the market rate.

Title 15, §6756

Commerce and Trade, Source: USLM XML via OLRC

In addition to all the powers conferred upon a nonprofit corporation by the District of Columbia Nonprofit Corporation Act, the Association shall have the power to—

(1)establish and collect such membership fees as the Association finds necessary to impose to cover the costs of its operations;

(2)adopt, amend, and repeal bylaws, procedures, or standards governing the conduct of Association business and performance of its duties;

(3)establish procedures for providing notice and opportunity for comment pursuant to section 6755(a) of this title;

(4)enter into and perform such agreements as necessary to carry out the duties of the Association;

(5)hire employees, professionals, or specialists, and elect or appoint officers, and to fix their compensation, define their duties and give them appropriate authority to carry out the purposes of this subchapter, and determine their qualification;

(6)establish personnel policies of the Association and programs relating to, among other things, conflicts of interest, rates of compensation, where applicable, and qualifications of personnel;

(7)borrow money; and

(8)secure funding for such amounts as the Association determines to be necessary and appropriate to organize and begin operations of the Association, which shall be treated as loans to be repaid by the Association with interest at market rate.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The District of Columbia Nonprofit Corporation Act, referred to in text, is Pub. L. 87–569, Aug. 6, 1962, 76 Stat. 265, which is not classified to the Code.

Prior Provisions

A prior section 6756, Pub. L. 106–102, title III, § 326, Nov. 12, 1999, 113 Stat. 1426, related to board of directors, prior to the general amendment of this subchapter by Pub. L. 114–1. See section 6754 of this title.

§6756 Powers