---
kind: "section"
citation: "15 U.S.C. § 504"
title: "15"
title_heading: "Commerce and Trade"
number: "504"
heading: "Powers of Foundation"
release: "119-102"
url: "https://uscodex.org/usc/15/504"
units:
  - "Chapter 13 — Textile Foundation"
---

# §504. Powers of Foundation


The corporation—

- (a) Shall have perpetual succession;
- (b) May sue and be sued;
- (c) May adopt a corporate seal and alter it at pleasure;
- (d) May adopt and alter bylaws;
- (e) May appoint officers and agents;
- (f) May acquire by [purchase](/usc/15/78c–5.md?p=g), devise, bequest, gift, or otherwise, and hold, encumber, convey, or otherwise dispose of, such real and personal property as may be necessary or appropriate for its corporate purposes;
- (g) May invest and reinvest the principal and interest of its funds; and
- (h) Generally, may do any and all lawful acts necessary or appropriate to carry out the purposes for which the corporation is created.

## Source credit

(June 10, 1930, ch. 440, § 4, 46 Stat. 540.)