§2612 National Defense University: Acceptance of Gifts

Summary

The Secretary of Defense can accept, hold, manage, and spend gifts for use with the National Defense University, including gifts from foreign countries or international groups, if the gift is meant for the University's operation or administration. The Secretary can pay any costs needed to accept a gift. Money and proceeds from selling donated property go into a Treasury account called the National Defense University Gift Fund. The Secretary may use money from that fund for the University. The rules in subsection (c) of section 2601 apply to property accepted here in the same way they apply there. If the Secretary of Defense asks, the Treasury Secretary can keep money and securities in the fund and invest or reinvest them in U.S. government or U.S.-guaranteed securities. Interest and profits from those investments go back into the fund and can be spent for the University. The term "gift" includes devises of real property, bequests of personal property, and interests in real property. The term "National Defense University" includes any school or component listed under section 2165(b). The Secretary of Defense must make rules to carry out these powers.