Title 2 — The CongressRelease 119-73not60
§158a Temporary Possession of Gifts of Money or Securities to Library of Congress; Investment
Title 2 › Chapter 5— LIBRARY OF CONGRESS › § 158a
Summary
If a donor’s conditions need quick action, the Librarian may temporarily accept gifts of money or securities with approval. The gift must be given a receipt; securities can’t be invested, and money must go into U.S. interest-bearing or U.S.-guaranteed obligations.
Full Legal Text
Title 2, §158a
The Congress — Source: USLM XML via OLRC
In the case of a gift of money or securities offered to the Library of Congress, if, because of conditions attached by the donor or similar considerations, expedited action is necessary, the Librarian of Congress may take temporary possession of the gift, subject to approval under section 156 of this title. The gift shall be receipted for and invested, reinvested, or retained as provided in section 157 of this title, except that—
(1)a gift of securities may not be invested or reinvested; and
(2)any investment or reinvestment of a gift of money shall be made in an interest bearing obligation of the United States or an obligation guaranteed as to principal and interest by the United States.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Section is comprised of fourth par. of section 2 of act Mar. 3, 1925, as added by Pub. L. 102–246. First, second, and third pars. of section 2 are classified to section 156, 157, and 158 of this title, respectively.
Reference
Citations & Metadata
Citation
2 U.S.C. § 158a
Title 2 — The Congress
Last Updated
Apr 3, 2026
Release point: 119-73not60