20 U.S.C. § 959a — Gifts, bequests, and devises
submitted 21 years ago by Pub. L. 109-54 to r/title-20-EDUCATION · 133 words · no verdicts yet
This section authorizes the two National Endowments to solicit, accept, receive, and invest gifts and other property or services. It directs accepted proceeds into a special interest-bearing account for the appropriate Endowment.
The National Endowment for the Arts* and the National Endowment for the Humanities* are on and after August 2, 2005 , authorized to solicit, accept, receive, and invest in the name of the United States, gifts, bequests, or devises of money and other property or services and to use such in furtherance of the functions of the National Endowment for the Arts and the National Endowment for the Humanities. Any proceeds from such gifts, bequests, or devises, after acceptance by the National Endowment for the Arts or the National Endowment for the Humanities, must be paid by the donor or the representative of the donor to the Chairman. The Chairman must enter the proceeds in a special interest-bearing account to the credit of the appropriate endowment for the purposes specified in each case.
The National Endowment for the Arts* and the National Endowment for the Humanities* are on and after August 2, 2005, authorized to solicit, accept, receive, and invest in the name of the United States, gifts, bequests, or devises of money and other property or services and to use such in furtherance of the functions of the National Endowment for the Arts and the National Endowment for the Humanities. Any proceeds from such gifts, bequests, or devises, after acceptance by the National Endowment for the Arts or the National Endowment for the Humanities, shall be paid by the donor or the representative of the donor to the Chairman. The Chairman shall enter the proceeds in a special interest-bearing account to the credit of the appropriate endowment for the purposes specified in each case.
Source credit: (Pub. L. 109–54, title IV, § 410, Aug. 2, 2005, 119 Stat. 551.)
- 2005Enacted · Pub. L. 109-54 · 119 Stat. 551
A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-54 on 2005-08-02.
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