Sec. 4. corporate powers
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/statute-compilations/comps-5398/sec-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## Sec. 4 corporate powers ###
(a)For the purpose of carrying out its functions under this joint resolution the Corporation— ####
(1)shall have succession in its corporate name; ####
(2)may adopt and use a corporate seal, which shall be judicially noticed; ####
(3)may sue and be sued in its corporate name; ####
(4)may adopt, amend, and repeal bylaws, rules, and regulations governing the manner in which its business may be conducted and the powers vested in it may be exercised; ####
(5)may make and carry out such contracts or agreements as are necessary or advisable in the conduct of its business; ####
(6)shall be held to be an inhabitant and resident of the northern judicial district of New York within the meaning of the laws of the United States relating to venue of civil suits; ####
(7)may appoint and fix the compensation, in accordance with the provisions of the Classification Act of 1949, of such officers, attorneys, and employees as may be necessary for the conduct of its business, define their authority and duties, and delegate to them such of the powers vested in the Corporation as the Administrator may determine; ####
(8)may acquire, by purchase, lease, condemnation, or donation such real and personal property and any interest therein, and may sell, lease, or otherwise dispose of such real and personal property, as the Administrator deems necessary for the conduct of its business; ####
(9)shall determine the character of and the necessity for its obligations and expenditures, and the manner in which they shall be incurred, allowed and paid, subject to provisions of law specifically applicable to Government corporations; ####
(10)may retain toll revenues for purposes of eventual reinvestment in the Seaway.1 1So in original. The period probably should be a semicolon. ####
(11)may provide services and facilities necessary in the maintenance and operation of the seaway, including but not limited to providing, at reasonable prices, services to vessels using the seaway and to visitors to the seaway, but not to include overnight housing accommodations for visitors; ####
(12)may participate with the Saint Lawrence Seaway Authority of Canada, or its designee, in the ownership and operation of a toll bridge company: *Provided,* That the United States' portion of the revenue from the tolls charged to the users of any toll bridge operated under this section shall be applied solely to the cost of the bridge and approaches, including maintenance and operation, amortization of principal and interest, as established by the Secretary of the Treasury; and2 2Section 805(a)(1) of P.L. 99–662 (100 Stat. 4272) attempted to strike out “and” at the end of paragraph (11). Section 805(a)(2) of such law attempted to strike out the period at the end of paragraph
(12)and insert “; and”. These amendments are unexecutable due to an earlier amendment made by P.L. 97–369 which redesignated paragraphs (10), (11), and
(12)as paragraphs (11), (12), and (13). #### (13)3 shall be credited with amounts received from any of the activities authorized by clauses
(10)and (11). 3So in original. There are two paragraphs designated as (13). #### (13)3 shall accept such amounts as may be transferred to the Corporation under section 9505(c)(1) of the Internal Revenue Code of 1954, except that such amounts shall be available only for the purpose of operating and maintaining those works which the Corporation is obligated to operate and maintain under subsection
(a)of section 3 of this Act. ###
(b)Amounts credited under subsection
(a)(12)1 are available to pay any obligation or expense of the Corporation under this Act, except as specifically provided in subsection
(a)(11)2. 1Reference to subsection (a)(12) probably should be to subsection (a)(13). 2Reference to subsection (a)(11) probably should be to subsection (a)(12). **[**[33 U.S.C. 984](/us/usc/t33/s984)**]**
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- 100 Stat. 4272
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