36 U.S.C. § 210104

Governing body

(a) Board of Trustees.—

A self-perpetuating board of trustees shall manage and direct the property and affairs of the corporation.

(b) Powers.—

The board of trustees may adopt and amend a constitution, bylaws, and regulations for—

(1)

the selection of successor trustees;

(2)

the admission of members;

(3)

the election of officers; and

(4)

the conduct of the affairs of the corporation.

( Pub. L. 105–225 , Aug. 12, 1998 , 112 Stat. 1456 .)