§2612 — Title 10 Armed Forces | U.S. Code

Summary

The Secretary of Defense may take and use gifts for running or managing the National Defense University, including gifts from international groups or foreign donors as defined in section 343(f)(4). The Secretary can also cover any necessary costs tied to accepting a gift. Money and money from selling donated property go into a Treasury account called the National Defense University Gift Fund. The Secretary can spend money from that fund for the University. At the Secretary of Defense’s request, the Treasury Secretary can keep the money in the fund and invest it in U.S. government securities; any interest goes back into the fund. A “gift” includes a bequest or real‑estate gift. The Secretary of Defense must make rules to run this.

Title 10, §2612

Armed Forces — Source: USLM XML via OLRC

(a)The Secretary of Defense may accept, hold, administer, and spend any gift, including a gift from an international organization and a foreign gift or donation (as defined in section 343(f)(4) of this title), that is made on the condition that it be used in connection with the operation or administration of the National Defense University. The Secretary may pay all necessary expenses in connection with the acceptance of a gift under this subsection.

(b)There is established in the Treasury a fund to be known as the “National Defense University Gift Fund”. Gifts of money, and the proceeds of the sale of property, received under subsection (a) shall be deposited in the fund. The Secretary may disburse funds deposited under this subsection for the benefit or use of the National Defense University.

(c)Subsection (c) of section 2601 of this title applies to property that is accepted under subsection (a) in the same manner that such subsection applies to property that is accepted under subsection (a) of that section.

(d)(1)Upon request of the Secretary of Defense, the Secretary of the Treasury may—

(A)retain money, securities, and the proceeds of the sale of securities, in the National Defense University Gift Fund; and

(B)invest money and reinvest the proceeds of the sale of securities in that fund in securities of the United States or in securities guaranteed as to principal and interest by the United States.

(2)The interest and profits accruing from those securities shall be deposited to the credit of the fund and may be disbursed as provided in subsection (b).

(e)In this section:

(1)the term “gift” includes a devise of real property or a bequest of personal property and any gift of an interest in real property.

(2)The term “National Defense University” includes any school or other component of the National Defense University specified under section 2165(b) of this title.

(f)The Secretary of Defense shall prescribe regulations to carry out this section.

Editorial Notes

Amendments

2017—Subsec. (a). Pub. L. 115–91 substituted “section 343(f)(4)” for “section 2166(f)(4)”. 2003—Subsec. (a). Pub. L. 108–136 substituted “2166(f)(4)” for “2611(f)”.

§2612 National Defense University: Acceptance of Gifts

Summary

Title 10, §2612

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata