36 U.S.C. § 70502: Purposes

Summary

Creates a corporation that can accept and hold property from gifts, wills, or grants. It can invest, manage, and sell that property without the usual rules that apply to trusts. Uses all income and any part of the principal only for educational, charitable, scientific, or literary work. That includes advancing the study of law, supporting high standards for federal judges and government lawyers, improving how justice is administered and how government legal work is done, running law libraries, seminars, publications, preserving rare legal books and art, and doing other actions needed to carry out these goals.

Title 36, §70502

Patriotic and National Observances, Source: USLM XML via OLRC

The purposes of the corporation are—

(1)to receive and hold property, including by gift, devise, or grant, and to invest, administer, and dispose of the property without restrictions applicable to trustees or trust funds;

(2)to apply its income and any part of its principal exclusively to educational, charitable, scientific, or literary purposes—

(A)to advance the science of jurisprudence;

(B)to uphold high standards for the Federal judiciary and attorneys representing the United States Government;

(C)to promote and improve the administration of justice, including the study of means for the improved handling of the legal business of the departments, agencies, and instrumentalities of the Government;

(D)to facilitate the cultivation and diffusion of knowledge and understanding of the law and the promotion of the study of the law and the science of jurisprudence and research in jurisprudence, through the maintenance of a law library, the establishment of seminars, lectures, and studies devoted to the law, and the publication of addresses, essays, treatises, reports, and other literary works by students, practitioners, and teachers of the law; and

(E)to provide for the acquisition, preservation, and exhibition of rare books and documents, sculptures, paintings, and other objects of art and historical interest relating to the law, the courts, and the legal profession; and

(3)to do any other acts necessary or incident to the accomplishment of these purposes.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 7050236:573.Aug. 24, 1954, ch. 911, § 3, 68 Stat. 797. Before clause (1), the word “objects” is omitted as included in “purposes”. Clause (1) is substituted for 36:573(1) to eliminate unnecessary words. In clause (2), the words “and if the corporation so decides, all or” and “or any of them” are omitted as unnecessary. In subclause (D), the words “in jurisprudence” are substituted for “therein” for clarity. In clause (3), the words “any other acts” are substituted for “any and all things” for consistency in the revised title.

§70502 Purposes

Summary

Title 36, §70502

Notes & Related Subsidiaries

Historical and Revision Notes

Citations & Metadata