Collapse to view only § 210105. Powers
- § 210101. Organization
- § 210102. Purposes
- § 210103. Membership
- § 210104. Governing body
- § 210105. Powers
- § 210106. Restrictions
- § 210107. Nonapplication of audit requirements
§ 210101. Organization
(a)Federal Charter.—Theodore Roosevelt Association (in this chapter, the “corporation”) is a body corporate and politic in the District of Columbia.
(b)Perpetual Existence.—Except as otherwise provided, the corporation has perpetual existence.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1455.)
§ 210102. PurposesThe purposes of the corporation are—
(1) to perpetuate the memory of Theodore Roosevelt for the benefit of the people of the United States and the world; and
(2) to solicit, receive, hold, and maintain funds, and to apply the principal of the funds and the income from those funds to the following objects, among others:
(A) the erection and maintenance of a suitable and adequate monumental memorial in the District of Columbia to the memory of Theodore Roosevelt;
(B) the acquisition, development, and maintenance of a public park in memory of Theodore Roosevelt in Oyster Bay, New York;
(C) the establishment and maintenance of an endowment fund to promote the development and application of the policies and ideals of Theodore Roosevelt for the benefit of the American people; and
(D) the donation of real and personal property, including part or all of its endowment fund, to a public agency for the purpose of preserving in public ownership historically significant property associated with the life of Theodore Roosevelt.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1455.)
§ 210103. Membership
Eligibility for membership in the corporation is as provided in regulations adopted by the board of trustees.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1456.)
§ 210104. Governing body
(a)Board of Trustees.—A self-perpetuating board of trustees shall manage and direct the property and affairs of the corporation.
(b)Powers.—The board of trustees may adopt and amend a constitution, bylaws, and regulations for—
(1) the selection of successor trustees;
(2) the admission of members;
(3) the election of officers; and
(4) the conduct of the affairs of the corporation.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1456.)
§ 210105. Powers
The corporation may—
(1) adopt a constitution, bylaws, and regulations;
(2) adopt and alter a corporate seal;
(3) acquire and own property necessary to carry out the purposes of the corporation;
(4) give and dedicate its property to public agencies and purposes;
(5) maintain offices, hold meetings, and conduct business affairs in the District of Columbia and in the States, territories, and possessions of the United States;
(6) sue and be sued within the jurisdiction of the United States; and
(7) do any other act necessary and proper to carry out the purposes of the corporation.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1456.)
§ 210106. Restrictions
(a)Exclusively Educational Purposes.—The corporation shall be operated exclusively for educational purposes.
(b)Stocks and Dividends.—The corporation may not issue stock or declare or pay a dividend.
(c)Distributions of Income or Assets.—The income or assets of the corporation may not inure to the benefit of any member or individual.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1456.)
§ 210107. Nonapplication of audit requirements
The audit requirements of section 10101 of this title do not apply to the corporation.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1456.)