                          TITLE 2--THE CONGRESS
 
                     CHAPTER 5--LIBRARY OF CONGRESS
 
Sec. 154. Library of Congress Trust Fund Board; members; quorum; 
        seal; rules and regulations
        
    A board is created and established, to be known as the ``Library of 
Congress Trust Fund Board'' (hereinafter referred to as the board), 
which shall consist of the Secretary of the Treasury (or an Assistant 
Secretary designated in writing by the Secretary of the Treasury), the 
chairman and the vice chair of the Joint Committee on the Library, the 
Librarian of Congress, two persons appointed by the President for a term 
of five years each (the first appointments being for three and five 
years, respectively), four persons appointed by the Speaker of the House 
of Representatives (in consultation with the minority leader of the 
House of Representatives) for a term of five years each (the first 
appointments being for two, three, four, and five years, respectively), 
and four persons appointed by the majority leader of the Senate (in 
consultation with the minority leader of the Senate) for a term of five 
years each (the first appointments being for two, three, four, and five 
years, respectively). Upon request of the chair of the Board, any member 
whose term has expired may continue to serve on the Trust Fund Board 
until the earlier of the date on which such member's successor is 
appointed or the expiration of the 1-year period which begins on the 
date such member's term expires. Seven members of the board shall 
constitute a quorum for the transaction of business, and the board shall 
have an official seal, which shall be judicially noticed. The board may 
adopt rules and regulations in regard to its procedure and the conduct 
of its business.

(Mar. 3, 1925, ch. 423, Sec. 1, 43 Stat. 1107; Pub. L. 95-277, May 12, 
1978, 92 Stat. 236; Pub. L. 102-246, Secs. 1, 2, Feb. 18, 1992, 106 
Stat. 31; Pub. L. 106-481, title II, Sec. 201, Nov. 9, 2000, 114 Stat. 
2190.)

                          Codification

    Section is comprised of first par. of section 1 of act Mar. 3, 1925. 
Second par. of section 1 is classified to section 155 of this title.


                               Amendments

    2000--Pub. L. 106-481 inserted ``and the vice chair'' after ``the 
chairman'' and ``Upon request of the chair of the Board, any member 
whose term has expired may continue to serve on the Trust Fund Board 
until the earlier of the date on which such member's successor is 
appointed or the expiration of the 1-year period which begins on the 
date such member's term expires.'' after first sentence and substituted 
``Seven members of the board'' for ``Nine members of the board''.
    1992--Pub. L. 102-246 struck out ``and'' after ``Librarian of 
Congress,'' inserted ``, four persons appointed by the Speaker of the 
House of Representatives (in consultation with the minority leader of 
the House of Representatives) for a term of five years each (the first 
appointments being for two, three, four, and five years, respectively), 
and four persons appointed by the majority leader of the Senate (in 
consultation with the minority leader of the Senate) for a term of five 
years each (the first appointments being for two, three, four, and five 
years, respectively)'' after ``respectively)'', and substituted ``Nine'' 
for ``Three''.
    1978--Pub. L. 95-277 inserted ``(or an Assistant Secretary 
designated in writing by the Secretary of the Treasury)''.


                    Effective Date of 2000 Amendment

    Pub. L. 106-481, title II, Sec. 202, Nov. 9, 2000, 114 Stat. 2191, 
provided that: ``The amendments made by this title [amending this 
section] shall take effect on the date of the enactment of this Act 
[Nov. 9, 2000].''


                               Short Title

    Act Mar. 3, 1925, enacting sections 154 to 162 and 163 of this 
title, is popularly known as the ``Library of Congress Trust Fund Board 
Act''.

                  Section Referred to in Other Sections

    This section is referred to in section 160 of this title.
