Collapse to view only § 130512. Liability for acts of officers and agents
- § 130501. Organization
- § 130502. Purposes
- § 130503. Membership
- § 130504. Governing body
- § 130505. Powers
- § 130506. Exclusive right to name and emblems
- § 130507. Restrictions
- § 130508. Principal office
- § 130509. Records and inspection
- § 130510. Statement required in audit report
- § 130511. Service of process
- § 130512. Liability for acts of officers and agents
- § 130513. Distribution of assets on dissolution or final liquidation
§ 130501. Organization
(a)Federal Charter.—Little League Baseball, Incorporated (in this chapter, the “corporation”), is a federally chartered corporation.
(b)Perpetual Existence.—Except as otherwise provided, the corporation has perpetual existence.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1376.)
§ 130502. Purposes
The purposes of the corporation are—
(1) to promote, develop, supervise, and voluntarily assist in all lawful ways the interest of young people who participate in Little League baseball;
(2) to help and voluntarily assist young people in developing qualities of citizenship and sportsmanship; and
(3) using the disciplines of the native American game of baseball, to teach spirit and competitive will to win, physical fitness through individual sacrifice, the values of team play, and wholesome well being through healthy social association with other youngsters under proper leadership.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1377.)
§ 130503. Membership
(a)Eligibility.—Except as provided in this chapter, eligibility for membership in the corporation and the rights and privileges of members are as provided in the constitution and bylaws of the corporation.
(b)Voting.—Each member (except an honorary or associate member) has one vote on each matter submitted to a vote at a meeting of the members.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1377.)
§ 130504. Governing body
(a)Board of Directors.—
(1) The board of directors is the governing body of the corporation. Between meetings of the corporation, the board is responsible for the general policies and program of the corporation. The board is responsible for the control of all funds of the corporation.
(2) The number of directors, their manner of selection (including the filling of vacancies), and their term of office are as provided in the constitution and bylaws of the corporation. However, the board shall have at least 13 directors.
(b)Officers.—
(1) The officers of the corporation are a chairman of the board of directors, a president, a vice president, and a secretary-treasurer. Their duties are as provided in the constitution and bylaws of the corporation.
(2) The officers shall be elected annually at the annual meeting of the corporation.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1377.)
§ 130505. Powers
The corporation may—
(1) adopt and amend a constitution and bylaws for the management of its property and the regulation of its affairs;
(2) adopt and alter a corporate seal;
(3) adopt, alter, and display seals, emblems, and badges;
(4) choose directors, officers, trustees, managers, employees, and agents as the activities of the corporation require;
(5) make contracts;
(6) acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out the purposes of the corporation;
(7) borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property;
(8) charge and collect membership dues and subscription fees;
(9) sue and be sued; and
(10) do any other act necessary or desirable to carry out the purposes of the corporation.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1377.)
§ 130506. Exclusive right to name and emblems
The corporation has the exclusive right to use and to allow others to use the names “Little League” and “Little Leaguer” and the official Little League emblem or any colorable simulation of that emblem. This section does not affect any vested rights.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1378.)
§ 130507. Restrictions
(a)Stock and Dividends.—The corporation may not issue stock or declare or pay a dividend.
(b)Political Activities.—The corporation or a director, officer, or agent as such may not contribute to, support, or assist any political party or candidate for office.
(c)Distribution of Income or Assets.—The income and assets of the corporation may not inure to the benefit of, or be distributed to, a director, officer, or member during the life of the corporation or on its dissolution or final liquidation. This subsection does not prevent the payment of reasonable compensation to an officer in an amount approved by the board of directors.
(d)Loans.—The corporation may not make a loan to a director, officer, or employee. Directors who vote for or assent to making a loan to a director, officer, or employee, and officers who participate in making the loan, are jointly and severally liable to the corporation for the amount of the loan until it is repaid.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1378.)
§ 130508. Principal office
The principal office of the corporation shall be in Williamsport, Pennsylvania, or another place decided by the board of directors. However, the activities of the corporation may be conducted throughout the world.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1378.)
§ 130509. Records and inspection
(a)Records.—The corporation shall keep—
(1) correct and complete records of account;
(2) minutes of the proceedings of its members, board of directors, and committees having any of the authority of its board of directors; and
(3) at its principal office, a record of the names and addresses of its members entitled to vote.
(b)Inspection.—A member entitled to vote, or an agent or attorney of the member, may inspect the records of the corporation for any proper purpose, at any reasonable time.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1378.)
§ 130510. Statement required in audit report
The corporation shall include in the audit report statement required under section 10101(b)(1)(B) of this title a schedule of all contracts requiring payments greater than $10,000 and all payments of compensation or fees at a rate greater than $10,000 a year.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1378.)
§ 130511. Service of process
The corporation shall have a designated agent in the District of Columbia to receive service of process for the corporation. Notice to or service on the agent, or mailed to the business address of the agent, is notice to or service on the corporation.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1379.)
§ 130512. Liability for acts of officers and agents
The corporation is liable for the acts of its officers and agents acting within the scope of their authority.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1379.)
§ 130513. Distribution of assets on dissolution or final liquidation
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1379.)