View all text of Chapter 705 [§ 70501 - § 70512]
§ 70502. PurposesThe purposes of the corporation are—
(1) to receive and hold property, including by gift, devise, or grant, and to invest, administer, and dispose of the property without restrictions applicable to trustees or trust funds;
(2) to apply its income and any part of its principal exclusively to educational, charitable, scientific, or literary purposes—
(A) to advance the science of jurisprudence;
(B) to uphold high standards for the Federal judiciary and attorneys representing the United States Government;
(C) to promote and improve the administration of justice, including the study of means for the improved handling of the legal business of the departments, agencies, and instrumentalities of the Government;
(D) to facilitate the cultivation and diffusion of knowledge and understanding of the law and the promotion of the study of the law and the science of jurisprudence and research in jurisprudence, through the maintenance of a law library, the establishment of seminars, lectures, and studies devoted to the law, and the publication of addresses, essays, treatises, reports, and other literary works by students, practitioners, and teachers of the law; and
(E) to provide for the acquisition, preservation, and exhibition of rare books and documents, sculptures, paintings, and other objects of art and historical interest relating to the law, the courts, and the legal profession; and
(3) to do any other acts necessary or incident to the accomplishment of these purposes.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1351.)