RIGHTS AND OBLIGATIONS OF THE FOUNDATION.

SEC. 204. RIGHTS AND OBLIGATIONS OF THE FOUNDATION. (a) General.— The Foundation— (1) shall have perpetual succession; (2) may conduct business in the several States, the District of Columbia, and any commonwealth, territory, or possession of the United States; (3) shall have its principal offices in the District of Columbia; and (4) shall at all times maintain a designated agent authorized to accept service of process for the Foundation. The serving of notice to, or service of process upon, the agent required under paragraph (4), or mailed to the business address of such agent, snail be deemed as service upon or notice to the Foundation. (b) Seal.— The Foundation shall have an official seal selected by the Board which shall be judicially noticed. (c) Powers.— To carry out its purposes under section 202, the Foundation shall have, in addition to the powers otherwise given it under this title, the usual powers of a corporation acting as a trustee in the District of Columbia, including the power— 110 STAT. 3385 (1) to accept, receive, solicit, hold, administer, and use any gift, devise, or bequest, either absolutely or in trust, of real or personal property or any income therefrom or other interest therein; (2) to acquire by purchase or exchange any real or personal property or interest therein; (3) unless otherwise required by the instrument of transfer, to sell, donate, lease, invest, reinvest, retain, or otherwise dispose of any property or income therefrom; (4) to borrow money and issue bonds, debentures, or other debt instruments; (5) to sue and be sued, and complain and defend itself in any court of competent jurisdiction, except that the Directors of the Board shall not be personally liable, except for gross negligence; (6) to enter into contracts or other arrangements with public agencies and private organizations and persons and to make such payments as may be necessary to carry out its functions; and (7) to do any and all acts necessary and proper to carry out the purposes of the Foundation. A gift, devise, or bequest may be accepted by the Foundation even though it is encumbered, restricted, or subject to beneficial interests of private persons, if any current or future interest therein is for the benefit of the Foundation.