36 U.S.C. § 300109
Section 300109 · Endowment fund
Amended 2 times on record
Applied in 1 court decisions — leading case United States v. Crosson (1972)
Most recently applied (May 1972)
The endowment fund of the corporation shall be kept and invested under the management and control of a board of trustees elected by the board of governors. The corporation shall prescribe policies and regulations on terms and tenure of office, accountability, and expenses of the board of trustees.
Editorial notes U.S. Code · Office of the Law Revision Counsel
SectionSource (U.S. Code)Source (Statutes at Large) 300109 36:9. Jan. 5, 1905, ch. 23, §8, as added June 23, 1910, ch. 372, §2, 36 Stat. 604; May 8, 1947, ch. 50, §7, 61 Stat. 83. The words “from time to time” are omitted [as] unnecessary.
Amendments
2007—Pub. L. 110–26 struck out “nine” before “trustees elected” in first sentence and substituted “The corporation shall prescribe policies and regulations on terms and tenure of office, accountability, and expenses of the board of trustees.” for “The board of governors shall prescribe regulations on terms and tenure of office, accountability, and expenses of the board of trustees.”