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2026-07-06 10:51:44 -04:00

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LegalText 42 U.S.C. § 3933 Organization of corporation us united_states_code code_section 42 THE PUBLIC HEALTH AND WELFARE 49 NATIONAL HOUSING PARTNERSHIPS 3933 42 U.S.C. § 3933 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc42@119-100.zip /us/usc/t42/s3933 data/legal/raw/us/code/title-42/usc42.xml 506982d8f6d98f1341be421ad25351d84df028284990e1d999e19d947f197bac 644321055a08eb1f260a6a3e31ac157fa024756abf612a9fd6857e7e400cf24e 75c78fac6ec06b9b5b440e02a365a293615dafcb49ef78ca605a479199ad949e 2026-07-04 official
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42 U.S.C. § 3933 - Organization of corporation

Text

(a) Appointment of incorporators; Chairman; initial board of directors The President of the United States shall appoint, by and with the advice and consent of the Senate, incorporators of the corporation, one of whom shall be designated by the President to serve as chairman. The incorporators shall serve as the initial board of directors until the first annual meeting of stockholders or until their successors are elected and have qualified.

(b) Action by incorporators; filing articles of incorporation The incorporators shall take whatever actions are necessary or appropriate to establish the corporation, including the filing of articles of incorporation as approved by the President.

(c) Initial offering of stock in corporation and of interests in partnership; terms of offering The incorporators shall also arrange for an initial offering of shares of stock in the corporation and of interests in the partnership described in section 3937 of this title. If the incorporators deem it advisable in order to carry out the purposes of this chapter, the initial offering may be made upon terms which require the purchase of other securities of the corporation or of interests in such partnership.

(Pub. L. 90448, title IX, § 903, Aug. 1, 1968, 82 Stat. 547.)