 CHAPTER 70--STRENGTHENING AND IMPROVEMENT OF ELEMENTARY AND SECONDARY 
                                 SCHOOLS
 
        SUBCHAPTER IV--SAFE AND DRUG-FREE SCHOOLS AND COMMUNITIES
 
Sec. 7105. Establishment of National Trust for Drug-Free Youth


(a) Establishment; purpose

    In order to encourage private gifts of real and personal property to 
assist the Secretary of Education in carrying out the national programs 
of drug abuse research, education, and prevention under subtitle B,\1\ 
there is hereby established a charitable, nonprofit, and nonpartisan 
corporation to be known as the National Trust for Drug-Free Youth.
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    \1\ See References in Text note below.
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(b) Board of Directors; duties and functions; composition

    The National Trust for Drug-Free Youth (hereinafter in this section 
referred to as the ``National Trust'') shall be under the general 
direction of a Board of Directors. The overall priorities, policies, and 
goals of the National Trust shall be determined by the Board in 
consultation with the Secretary. The Board shall coordinate the 
activities of the National Trust for Drug-Free Youth with the Secretary. 
The Board shall be composed of three members appointed as follows:
        (1) one member shall be appointed by the President;
        (2) one member shall be appointed by the Speaker of the House of 
    Representatives; and
        (3) one member shall be appointed by the Majority Leader of the 
    Senate.

(c) Principal office; venue

    The National Trust shall have its principal office in the District 
of Columbia and for the purposes of venue in civil actions shall be 
considered an inhabitant and resident of the District.

(d) Powers of Trust generally

    The National Trust shall have the following general powers:
        (1) to have succession until dissolved by Act of Congress, in 
    which event title to the properties of the National Trust, both real 
    and personal shall, insofar as consistent with existing contractual 
    obligations and subject to all other legally enforceable claims or 
    demands by or against the National Trust, pass to and become vested 
    in the United States of America;
        (2) to adopt, alter, and use a corporate seal which shall be 
    judicially noticed;
        (3) to sue and be sued, complain and defend in any court of 
    competent jurisdiction;
        (4) to adopt and establish such bylaws, rules, and regulations, 
    not inconsistent with the laws of the United States or of any State, 
    as the Board considers necessary for the administration of its 
    functions, including among other matter, bylaws, rules, and 
    regulations governing administration of corporate funds;
        (5) to accept, hold, and administer gifts and bequests of money, 
    securities, or other personal property of whatsoever character, 
    absolutely or on trust, for the purposes for which the National 
    Trust is created;
        (6) to sell, exchange, or otherwise dispose of as it may 
    determine from time to time the moneys, securities, or other gifts 
    given or bequeathed to it;
        (7) to appoint and prescribe the duties of such officers, 
    agents, and employees as may be necessary to carry out its 
    functions, and to fix and pay such compensation to them for their 
    services as the National Trust is created; and
        (8) to audit the financial records of the corporation.

(e) Issuance of shares or stock; declaration or payment of dividends; 
        loan of funds to officers or directors

    The National Trust shall not have authority--
        (1) to issue shares or stock or declare or pay dividends; or
        (2) to loan funds to its officers or directors.

(f) Annual report and independent audit

    The Board shall submit an annual report and independent audit to the 
Congress and the President concerning the expenditure of funds under the 
National Trust.

(Pub. L. 99-570, title IV, Sec. 4302, Oct. 27, 1986, 100 Stat. 3207-
153.)

                       References in Text

    Subtitle B, referred to in subsec. (a), is subtitle B of title IV of 
Pub. L. 99-570, Oct. 27, 1986, 100 Stat. 3207-125, known as the Drug-
Free Schools and Communities Act of 1986, which was classified to 
chapter 58 (Sec. 4601 et seq.) of this title, prior to repeal by Pub. L. 
100-297, title I, Sec. 1003(e), Apr. 28, 1988, 102 Stat. 293. Provisions 
related to drug-free schools and communities are now contained in this 
subchapter.

                          Codification

    Section was enacted as part of the Anti-Drug Abuse Act of 1986, and 
not as part of the Elementary and Secondary Education Act of 1965 which 
comprises this chapter.
    Section was formerly classified to section 4665, and subsequently 
section 3225, of this title.


                  Termination of Reporting Requirements

    For termination, effective May 15, 2000, of provisions in subsec. 
(f) of this section relating to submitting annual report and audit to 
Congress, see section 3003 of Pub. L. 104-66, as amended, set out as a 
note under section 1113 of Title 31, Money and Finance, and page 185 of 
House Document No. 103-7 (specifying report under section 4665 of this 
title, subsequently transferred to this section).
