USC Chapter 2101

in effect

36 U.S.C. § 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.

36 U.S.C. § 210102 Purposes

The 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.

36 U.S.C. § 210103 Membership

Eligibility for membership in the corporation is as provided in regulations adopted by the board of trustees.

36 U.S.C. § 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.

36 U.S.C. § 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.

36 U.S.C. § 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.

36 U.S.C. § 210107 Nonapplication of audit requirements

The audit requirements of section 10101 of this title do not apply to the corporation.