
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 36USC151705]

 
     TITLE 36--PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND 
                              ORGANIZATIONS
 
            Subtitle II--Patriotic and National Organizations
 
                          Part B--Organizations
 
           CHAPTER 1517--NATIONAL FILM PRESERVATION FOUNDATION
 
Sec. 151705. Powers

    (a) General.--The corporation may--
        (1) adopt a constitution and bylaws;
        (2) adopt a seal which shall be judicially noticed; and
        (3) do any other act necessary to carry out this chapter.

    (b) Powers as Trustee.--To carry out its purposes, the corporation 
has the usual powers of a corporation acting as a trustee in the 
District of Columbia, including the power--
        (1) to accept, receive, solicit, hold, administer, and use any 
    gift, devise, or bequest, either absolutely or in trust, of property 
    or any income from or other interest in property;
        (2) to acquire property or an interest in property by purchase 
    or exchange;
        (3) unless otherwise required by an instrument of transfer, to 
    sell, donate, lease, invest, or otherwise dispose of any property or 
    income from property;
        (4) to borrow money and issue instruments of indebtedness;
        (5) to make contracts and other arrangements with public 
    agencies and private organizations and persons and to make payments 
    necessary to carry out its functions;
        (6) to sue and be sued; and
        (7) to do any other act necessary and proper to carry out the 
    purposes of the corporation.

    (c) Encumbered or Restricted Gifts.--A gift, devise, or bequest may 
be accepted by the corporation even though it is encumbered, restricted, 
or subject to beneficial interests of private persons, if any current or 
future interest is for the benefit of the corporation.

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1405.)

                                          Historical and Revision Notes
-------------------------------------------------------------------------------
---------------------------------
           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
-------------------------------------------------------------------------------
---------------------------------
151705(a).............................  36:5702(g)(1)(B), (C).           Oct. 1
1, 1996, Pub. L. 104-285, title
                                                                          II, S
ecs.  203(g)(1)(B), (C), 204(b),
                                                                          (c)(1
)-(4), (5) (words before 2d
                                                                          comma
), (6), (7), (last par.), 110
                                                                          Stat.
 3384, 3385.
                                        36:5703(b).
151705(b).............................  36:5703(c)(1)-(4), (5) (words
                                         before 2d comma), (6), (7).
151705(c).............................  36:5703(c) (last par.).
-------------------------------------------------------------------------------
---------------------------------

    Subsection (a)(1) is substituted for 36:5702(g)(1)(B) for 
consistency in the revised title. The words ``consistent with the 
purposes of the Foundation and the provisions of this chapter'' are 
omitted as unnecessary.
    Subsection (a)(2) is substituted for 36:5703(b) for consistency in 
the revised title.
    Subsection (a)(3) is substituted for 36:5702(g)(1)(C) for 
consistency in the revised title.
    In subsection (b), before clause (1), the words ``under section 5701 
of this title'' and ``in addition to the powers otherwise given it under 
this chapter'' are omitted as unnecessary. In clauses (1) and (2), the 
words ``real or personal'' are omitted as unnecessary and for 
consistency in the revised title. In clause (3), the words ``reinvest, 
retain'' are omitted as unnecessary. In clause (4), the words 
``instruments of indebtedness'' are substituted for ``bonds, debentures, 
or other debt instruments'' to eliminate unnecessary words. In clause 
(6), the words ``and complain and defend itself in any court of 
competent jurisdiction'' are omitted as unnecessary. In clause (7), the 
words ``any other act'' are substituted for ``any and all acts'' to 
eliminate unnecessary words.
