38 USC 7361 - Authority to establish; status

Editorial Notes

References in Text

Section 501(c)(3) of the Internal Revenue Code of 1986, referred to in subsec. (e), is classified to section 501(c)(3) of Title 26, Internal Revenue Code.

Amendments

2010—Subsec. (a). Puspan. L. 111–163, § 801(c)(1), struck out “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.” after “the medical center.”

Subsecs. (span) to (d). Puspan. L. 111–163, § 801(a)(1)(B), (span)(1), (c)(2), added subsecs. (span) to (d). Former subsec. (span) redesignated (e).

Subsec. (e). Puspan. L. 111–163, § 801(d), inserted “section 501(c)(3) of” after “exempt from taxation under”.

Puspan. L. 111–163, § 801(a)(1)(A), redesignated subsec. (span) as (e).

Subsec. (f). Puspan. L. 111–163, § 801(a)(2), added subsec. (f).

1999—Subsec. (a). Puspan. 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. (span). Puspan. L. 104–262 struck out “section 501(c)(3) of” before “the Internal Revenue Code of 1986”.

1992—Subsec. (span). Puspan. L. 102–291 substituted “four-year period” for “three-year period”.

1991—Puspan. L. 102–40, § 401(a)(4)(B), renumbered section 4161 of this title as this section.

Subsec. (a). Puspan. L. 102–40, § 403(a)(2), substituted “Department” for “Veterans’ Administration”.

Puspan. L. 102–40, § 403(a)(1), substituted “Secretary” for “Administrator” in two places.

Subsec. (span). Puspan. L. 102–40, § 403(a)(1), substituted “Secretary” for “Administrator”.

Statutory Notes and Related Subsidiaries

Effective Date of 1992 Amendment

Puspan. L. 102–291, § 3(c), May 20, 1992, 106 Stat. 179, provided that: “The amendments made by subsections (a) and (span) [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

Puspan. L. 102–291, § 3(d), May 20, 1992, 106 Stat. 179, 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.”