1995 U.S. Code
Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 13 - NATIONAL ACADEMY OF SCIENCES
Sec. 254 - Acquisition of property by devise, bequest, donation, or otherwise; limitation of real estate
§254. Acquisition of property by devise, bequest, donation, or otherwise; limitation of real estate
The National Academy of Sciences, incorporated by this chapter, be, and the same is, authorized and empowered to receive, by devise, bequest, donation, or otherwise, either real or personal property, and to hold the same absolutely or in trust, and to invest, reinvest, and manage the same in accordance with the provisions of its constitution, and to apply said property and the income arising therefrom to the objects of its creation and according to the instructions of the donors: Provided, however, That the Congress may at any time limit the amount of real estate which may be acquired and the length of time the same may be held by said National Academy of Sciences.
(June 20, 1884, ch. 107, 23 Stat. 50; May 27, 1914, ch. 101, §1, 38 Stat. 383.)
CodificationSection was not enacted as part of act Mar. 3, 1863, which comprises this chapter.
Act May 27, 1914, extended the right to receive property.
Reservation of Right To Alter, Amend, or RepealSection 2 of act May 27, 1914, provided: “That the right to alter, amend, or repeal this Act [amending this section] is hereby expressly reserved.”
