Collapse to view only § 2304. Compensation of members; availability of trust funds for expenses of the Board

§ 2301. Establishment of Board; membership

The National Archives Trust Fund Board shall consist of the Archivist of the United States, as Chairman, and the Secretary of the Treasury and the Chairman of the National Endowment for the Humanities. Membership on the Board is not an office within the meaning of the statutes of the United States.

(Pub. L. 90–620, Oct. 22, 1968, 82 Stat. 1292; Pub. L. 94–391, Aug. 19, 1976, 90 Stat. 1192; Pub. L. 95–379, Sept. 22, 1978, 92 Stat. 724; Pub. L. 98–497, title I, § 107(b)(8), Oct. 19, 1984, 98 Stat. 2287.)
§ 2302. Authority of the Board; seal; services; bylaws; rules; regulations; employees
In carrying out the purposes of this chapter, the Board—
(1) may adopt an official seal, which shall be judicially noticed;
(2) may utilize on a reimbursable basis the services and personnel of the National Archives and Records Administration necessary (as determined by the Archivist) to assist the Board in the administration of the trust fund, and in the preparation and publication of special works and collections of sources and preparation, duplication, editing, and release of historical photographic materials and sound recordings, and may utilize on a reimbursable basis the services and personnel of other Federal agencies for such purposes;
(3) may adopt bylaws, rules, and regulations necessary for the administration of its functions under this chapter; and
(4) may, subject to the laws and regulations governing appointments in the civil service, appoint and fix the compensation of such personnel as may be necessary to carry out its functions.
(Pub. L. 90–620, Oct. 22, 1968, 82 Stat. 1292; Pub. L. 98–497, title II, § 202(a), Oct. 19, 1984, 98 Stat. 2293.)
§ 2303. Powers and obligations of the Board; liability of members

Except as otherwise provided by this chapter, the Board shall have all the usual powers and obligations of a trustee with respect to property and funds administered by it, but the members of the Board are not personally liable, except for malfeasance.

(Pub. L. 90–620, Oct. 22, 1968, 82 Stat. 1292; Pub. L. 98–497, title II, § 202(a), Oct. 19, 1984, 98 Stat. 2293.)
§ 2304. Compensation of members; availability of trust funds for expenses of the Board

Compensation may not be paid to the members of the Board for their services as members. Costs incurred by the Board in carrying out its duties under this chapter, including the obligations necessarily incurred by the members of the Board in the performance of their duties and the compensation of persons employed by the Board, shall be paid by the Archivist of the United States from trust funds available to the Board for this purpose. The Board, by resolution, may authorize the transfer of funds (including the principal or interest of a gift or bequest) to the National Archives and Records Administration to be expended on an archival or records activity approved by the Board or to accomplish the purpose of a gift or bequest.

(Pub. L. 90–620, Oct. 22, 1968, 82 Stat. 1292; Pub. L. 98–497, title II, § 202(a), Oct. 19, 1984, 98 Stat. 2293.)
§ 2305. Acceptance of gifts

The Board may solicit and accept gifts or bequests of money, securities, or other personal property, for the benefit of or in connection with the national archival and records activities administered by the National Archives and Records Administration. Moneys that are for deposit into the trust fund shall be deposited within 10 working days of the receipt thereof.

(Pub. L. 90–620, Oct. 22, 1968, 82 Stat. 1292; Pub. L. 98–497, title II, § 202(a), Oct. 19, 1984, 98 Stat. 2293.)
§ 2306. Investment of funds

The Secretary of the Treasury shall receipt for moneys or securities composing trust funds given or bequeathed to the Board and shall invest, reinvest, and retain the moneys or securities as the Board from time to time determines. The Board may not engage in business or exercise a voting privilege which may be incidental to securities in such trust funds, nor may the Secretary of the Treasury make investments for the account of the Board which could not lawfully be made by a trust company in the District of Columbia, unless directly authorized by the instrument of gift or bequest under which the funds to be invested are derived, and may retain investments accepted by the Board.

(Pub. L. 90–620, Oct. 22, 1968, 82 Stat. 1292.)
§ 2307. Trust fund account; disbursements; sales of publications and releases
(Pub. L. 90–620, Oct. 22, 1968, 82 Stat. 1293; Pub. L. 98–497, title II, § 202(b), Oct. 19, 1984, 98 Stat. 2294.)
§ 2308. Tax exemption for gifts

Gifts and bequests received by the Board under this chapter, and the income from them are exempt from taxes.

(Pub. L. 90–620, Oct. 22, 1968, 82 Stat. 1293.)