§2612 National Defense University: acceptance of gifts

Summary

The Secretary of Defense may accept, hold, manage, and spend gifts — including donations from foreign countries or international groups — when the giver requires they be used for running or managing the National Defense University. The Secretary may pay necessary costs to accept a gift. Money and proceeds from sold property go into the "National Defense University Gift Fund" in the Treasury and may be used for the University's benefit. At the Secretary's request, the Treasury Secretary may keep and invest fund money in U.S. government or U.S.‑guaranteed securities; interest and profits go back to the fund and may be spent for the University. Subsection (c) of section 2601 applies the same here. Definitions: "gift" — includes land or personal property left by will and any interest in land; "National Defense University" — includes any school or component listed in section 2165(b). The Secretary of Defense must make rules to carry this out.