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Title 42, The Public Health and WelfareRelease 119-110

§3932 Creation of Corporations

Title 42 › CHAPTER 49 — NATIONAL HOUSING PARTNERSHIPS › § 3932

Last updated Sep 22, 2026|Official source

Summary

A private, for-profit corporation can be created. It will not be part of the U.S. government. The corporation must follow the rules in this chapter and, when they apply, the District of Columbia Business Corporation Act. The President may create more such corporations when it is in the national interest; the chapter’s rules then apply to each new corporation and to any limited partnership it forms under section 3937. Private people may also form their own corporations, partnerships, joint ventures, or associations for the same purposes.

Full Legal Text

Title 42, §3932

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

(a)Authorization
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)Creation of additional corporations
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)Creation of corporations and organization of other partnerships, joint ventures, or associations by private persons
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.

Legislative History

Notes & Related Subsidiaries

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.

Reference

Citations & Metadata

Citation

42 U.S.C. § 3932

Title 42, The Public Health and Welfare

Last Updated

Sep 22, 2026

Release point: 119-110