36 U.S.C. § 21503: Governing body

Summary

The board of governors runs the corporation. It must have at least 12 governors split into 3 equal groups. One group is elected each year for a 3-year term at the corporation’s annual meeting. Five governors can do regular business. But selling or transferring property or leasing real estate for more than one year needs a majority vote of the whole board. The board can make or change rules about elections, meetings, officers, members, and running the business; fill board vacancies until the next annual election; and hire, set pay for, and fire doctors and other staff.

Title 36, §21503

Patriotic and National Observances, Source: USLM XML via OLRC

(a)General.—

(1)The board of governors is the governing body of the corporation.

(2)The board shall have at least 12 governors, divided into 3 classes of equal numbers. One class of governors shall be elected each year for a term of 3 years or until their successors are elected. The corporation shall elect the governors at its annual meeting.

(b)Quorum.—

Five governors are a quorum for the transaction of business, except that a majority vote of the board is required for— (1)

(2)the leasing of real estate of the corporation for a term of more than one year.

(c)Powers.—

The board may—

(1)adopt and amend bylaws, as may be necessary and proper, related to—

(A)elections and meetings;

(B)qualifications and duties of governors and officers;

(C)admission and qualifications of members; and

(D)management and disposition of the property, business, and concerns of the corporation;

(2)conduct all business of the corporation;

(3)fill, until the next annual election, a vacancy on the board; and

(4)appoint attending and resident physicians and surgeons, agents, assistants, and attendants as may be necessary, set their compensation, and discharge them.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 21503(a)36:4904 (1st sentence).Jan. 30, 1913, ch. 21, §§ 4 (1st sentence), 6, 37 Stat. 655; Apr. 12, 1974, Pub. L. 93–266, 88 Stat. 85. 36:4905.Jan. 30, 1913, ch. 21, §§ 5, 7, 8, 37 Stat. 655. 36:4906. 21503(b)36:4908. 21503(c)36:4907. Subsection (a) is substituted for the source provisions for consistency in the revised title and to eliminate unnecessary and obsolete language. In subsection (c)(1), before clause (A), the words “and not contrary to law” are omitted as unnecessary. In subsection (c)(2), the words “and manage” and “and concerns” are omitted as unnecessary. In subsection (c)(3), the words “occasioned by death, resignation, or otherwise” are omitted as unnecessary.

§21503 Governing Body

Summary

Title 36, §21503

Notes & Related Subsidiaries

Historical and Revision Notes

Citations & Metadata