United States Code
USC most recently checked for updates: Jun 09, 2025
§ 21503.
Governing body
(a)
(1)
The board of governors is the governing body of the corporation.
(2)
The board shall have at least 12 governors, divided into 3 classes of equal numbers. One class of governors shall be elected each year for a term of 3 years or until their successors are elected. The corporation shall elect the governors at its annual meeting.
(b)
Five governors are a quorum for the transaction of business, except that a majority vote of the board is required for—
(1)
the sale or alienation of any real or personal estate of the corporation; or
(2)
the leasing of real estate of the corporation for a term of more than one year.
(c)
The board may—
(1)
adopt and amend bylaws, as may be necessary and proper, related to—
(A)
elections and meetings;
(B)
qualifications and duties of governors and officers;
(C)
admission and qualifications of members; and
(D)
(2)
conduct all business of the corporation;
(3)
fill, until the next annual election, a vacancy on the board; and
(4)
appoint attending and resident physicians and surgeons, agents, assistants, and attendants as may be necessary, set their compensation, and discharge them.
cite as: 36 USC 21503
