
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 38USC7361]

 
                      TITLE 38--VETERANS' BENEFITS
 
              PART V--BOARDS, ADMINISTRATIONS, AND SERVICES
 
 CHAPTER 73--VETERANS HEALTH ADMINISTRATION--ORGANIZATION AND FUNCTIONS
 
                  SUBCHAPTER IV--RESEARCH CORPORATIONS
 
Sec. 7361. Authority to establish; status

    (a) The Secretary may authorize the establishment at any Department 
medical center of a nonprofit corporation to provide a flexible funding 
mechanism for the conduct of approved research and education at the 
medical center. Except as otherwise required in this subchapter or under 
regulations prescribed by the Secretary, any such corporation, and its 
directors and employees, shall be required to comply only with those 
Federal laws, regulations, and executive orders and directives which 
apply generally to private nonprofit corporations. Such a corporation 
may be established to facilitate either research or education or both 
research and education.
    (b) If by the end of the four-year period beginning on the date of 
the establishment of a corporation under this subchapter the corporation 
is not recognized as an entity the income of which is exempt from 
taxation under the Internal Revenue Code of 1986, the Secretary shall 
dissolve the corporation.

(Added Pub. L. 100-322, title II, Sec. 204(a), May 20, 1988, 102 Stat. 
510, Sec. 4161; renumbered Sec. 7361 and amended Pub. L. 102-40, title 
IV, Secs. 401(a)(4)(B), 403(a)(1), (2), May 7, 1991, 105 Stat. 221, 239; 
Pub. L. 102-291, Sec. 3(a), May 20, 1992, 106 Stat. 179; Pub. L. 104-
262, title III, Sec. 343(b), Oct. 9, 1996, 110 Stat. 3207; Pub. L. 106-
117, title II, Sec. 204(a), Nov. 30, 1999, 113 Stat. 1562.)

                       References in Text

    The Internal Revenue Code of 1986, referred to in subsec. (b), is 
classified generally to Title 26, Internal Revenue Code.


                               Amendments

    1999--Subsec. (a). Pub. L. 106-117 inserted ``and education'' after 
``research'' and inserted at end ``Such a corporation may be established 
to facilitate either research or education or both research and 
education.''
    1996--Subsec. (b). Pub. L. 104-262 struck out ``section 501(c)(3) 
of'' before ``the Internal Revenue Code of 1986''.
    1992--Subsec. (b). Pub. L. 102-291 substituted ``four-year period'' 
for ``three-year period''.
    1991--Pub. L. 102-40, Sec. 401(a)(4)(B), renumbered section 4161 of 
this title as this section.
    Subsec. (a). Pub. L. 102-40, Sec. 403(a)(2), substituted 
``Department'' for ``Veterans' Administration''.
    Pub. L. 102-40, Sec. 403(a)(1), substituted ``Secretary'' for 
``Administrator'' in two places.
    Subsec. (b). Pub. L. 102-40, Sec. 403(a)(1), substituted 
``Secretary'' for ``Administrator''.


                    Effective Date of 1992 Amendment

    Section 3(c) of Pub. L. 102-291 provided that: ``The amendments made 
by subsections (a) and (b) [amending this section and section 7368 of 
this title] shall take effect as of October 1, 1991.''


 Ratification of Actions of Secretary of Veterans Affairs During Lapsed 
                                 Period

    Section 3(d) of Pub. L. 102-291 provided that: ``The following 
actions of the Secretary of Veterans Affairs during the period beginning 
on October 1, 1991, and ending on the date of the enactment of this Act 
[May 20, 1992] are hereby ratified:
        ``(1) A failure to dissolve a nonprofit corporation established 
    under section 7361(a) of title 38, United States Code, that, within 
    the three-year period beginning on the date of the establishment of 
    the corporation, was not recognized as an entity the income of which 
    is exempt from taxation under section 501(c)(3) of the Internal 
    Revenue Code of 1986 [26 U.S.C. 501(c)(3)].
        ``(2) The establishment of a nonprofit corporation for approved 
    research under section 7361(a) of title 38, United States Code.''

                  Section Referred to in Other Sections

    This section is referred to in section 7809 of this title.
