§4302 — Title 20 Education | U.S. Code

Summary

Gallaudet University keeps all property and rights it ever had under any earlier name. It can own, buy, sell, mortgage property and can sue or be sued. It must also take on any debts that were owed under its former names. With the Secretary’s approval, the Board may sell, mortgage, or otherwise dispose of real estate owned by Gallaudet or its predecessors. Money from those sales is part of the university’s capital and can only be used to buy real estate, to build or improve university buildings, or to invest. If it is invested, only the investment income may pay current expenses.

Title 20, §4302

Education — Source: USLM XML via OLRC

(a)Gallaudet University is vested with all the property and the rights of property, and shall have and be entitled to use all authority, privileges, and possessions and all legal rights which it has, or which it had or exercised under any former name, including the right to sue and be sued and to own, acquire, sell, mortgage, or otherwise dispose of property it may own now or hereafter acquire. Gallaudet University shall also be subject to all liabilities and obligations now outstanding against the corporation under any former name.

(b)(1)With the approval of the Secretary, the Board of Trustees of Gallaudet University may convey fee simple title by deed, convey by quitclaim deed, mortgage, or otherwise dispose of any or all real property title to which is vested in Gallaudet University, Gallaudet College, the Columbia Institution for the Deaf, or any predecessor corporation.

(2)The proceeds of any such disposition shall be considered a part of the capital structure of the corporation, and may be used solely for the acquisition of real estate for the use of the corporation, for the construction, equipment, or improvement of buildings for such use, or for investment purposes, but, if invested, only the income from the investment may be used for current expenses of the corporation.

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

Provisions similar to this section were contained in section 691b of this title, prior to repeal by Pub. L. 99–371.

Amendments

1993—Subsec. (b)(1). Pub. L. 103–73, § 203(b)(1), substituted “Secretary” for “Secretary of Education”. Subsec. (b)(2). Pub. L. 103–73, § 203(b)(2), substituted “but, if invested,” for “but if invested”.

Statutory Notes and Related Subsidiaries

Real Property ProvisionsThe following acts contained provisions relating to acquisition, exchange, and adjustment of boundaries of properties of Gallaudet University and its predecessors, Gallaudet College and Columbia Institution for the Deaf: July 1, 1916, ch. 209, 39 Stat. 310. Aug. 3, 1939, ch. 414, 53 Stat. 1179. Sept. 13, 1960, Pub. L. 86–776, §§ 1, 2, 74 Stat. 916, 917. Nov. 20, 1981, Pub. L. 97–80, title II, § 202(a)(1), 95 Stat. 1082.

§4302 Property rights