54 U.S.C. § 101114 — Disposition of property or income
submitted 12 years ago by Pub. L. 113-287 to r/title-54-NATIONAL-PARK-SERVICE-AND-RELATED-PROGRAMS · 201 words · no verdicts yet
The National Park Foundation's Board can sell, lease, invest, or otherwise manage property and income it holds, unless the original gift says otherwise. Its investments must follow the same rules as a trust company in Washington, D.C., with some exceptions. The Foundation can also use Interior and Justice Department services and facilities, with or without paying them back.
(a) Authority To Dispose or Deal With Property or Income. Unless the document that transferred the property says otherwise, the Board may sell, lease, invest, reinvest, keep, or otherwise deal with Foundation property or income from it, in whatever way the Board decides.
(b) Restriction. The Foundation cannot run a business or make an investment that a trust company in the District of Columbia would not legally be allowed to make. There are two exceptions: the Foundation may make an investment that the transfer document specifically allows, and it may keep any property it has accepted.
(c) Use of Services and Facilities of the Departments of the Interior and Justice. The Foundation may use the services and facilities of the Department of the Interior and the Department of Justice. On request, those departments may make their services and facilities available, as practical, either with or without the Foundation paying them back. If the Foundation does reimburse a department, that money goes back into the account it came from, and can be spent — without further appropriation — for any purpose that account is authorized for.
Except as otherwise required by the instrument of transfer, the National Park Foundation may sell, lease, invest, reinvest, retain, or otherwise dispose of or deal with any property or income from the property as the Board may determine.
The National Park Foundation shall not engage in any business or make any investment that may not lawfully be made by a trust company in the District of Columbia, except that the Foundation may make any investment authorized by the instrument of transfer, and may retain any property accepted by the Foundation.
The National Park Foundation may utilize the services and facilities of the Department of the Interior and the Department of Justice, and the services and facilities may be made available on request to the extent practicable with or without reimbursement. Amounts reimbursed to either Department shall be returned by the Department to the account from which the funds for which the reimbursement is made were drawn and may, without further appropriation, be expended for any purpose for which the account is authorized.
Source credit: (Pub. L. 113–287, § 3, Dec. 19, 2014, 128 Stat. 3121.)
- 2014Enacted · Pub. L. 113-287 · 128 Stat. 3121
A history note hasn’t been published yet. The record shows enactment by Pub. L. 113-287 on 2014-12-19.
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