CHAPTER 2101 - THEODORE ROOSEVELT ASSOCIATION
Title 36 > CHAPTER 2101
Sections (7)
§ 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.
§ 210102 Purposes
The purposes of the corporation are— to perpetuate the memory of Theodore Roosevelt for the benefit of the people of the United States and the world; and 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: the erection and maintenance of a suitable and adequate monumental memorial in the District of Columbia to the memory of Theodore Roosevelt; the acquisition, development, and maintenance of a public park in memory of Theodore Roosevelt in Oyster Bay, New York; 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 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— the selection of successor trustees; the admission of members; the election of officers; and the conduct of the affairs of the corporation.
§ 210105 Powers
The corporation may— adopt a constitution, bylaws, and regulations; adopt and alter a corporate seal; acquire and own property necessary to carry out the purposes of the corporation; give and dedicate its property to public agencies and purposes; maintain offices, hold meetings, and conduct business affairs in the District of Columbia and in the States, territories, and possessions of the United States; sue and be sued within the jurisdiction of the United States; and 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.
§ 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 .)