2014 US Code
Title 20 - Education (Sections 1 - 10013)
Chapter 8 - Howard University (Sections 121 - 130aa-5)
Subchapter II - Endowment (Sections 130aa - 130aa-5)
Sec. 130aa-4 - Enforcement
Publication Title | United States Code, 2012 Edition, Supplement 2, Title 20 - EDUCATION |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 20 - EDUCATION CHAPTER 8 - HOWARD UNIVERSITY SUBCHAPTER II - ENDOWMENT Sec. 130aa-4 - Enforcement |
Contains | section 130aa-4 |
Date | 2014 |
Laws In Effect As Of Date | January 5, 2015 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 98-480, title II, §206, Oct. 17, 1984, 98 Stat. 2247. |
Statutes at Large References | 98 Stat. 2247, 2236 |
Public and Private Laws | Public Law 98-480 |
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(a) After notice and an opportunity for a hearing, the Secretary is authorized to terminate and recover any grant awarded under this subchapter if the University—
(1) withdraws or expends any endowment fund corpus, or any endowment fund income in excess of the amount authorized by section 130aa–3 of this title;
(2) fails to invest its endowment fund corpus or income in accordance with the investment standards set forth in section 130aa–2 of this title; or
(3) fails to account properly to the Secretary concerning investments and expenditures of its endowment fund corpus or income.
(b) If the Secretary terminates a grant under subsection (a) of this section, the University shall return to the Treasury of the United States an amount equal to the sum of the original grant or grants under this subchapter 1 plus any income earned thereon. The Secretary may direct the University to take such other appropriate measures to remedy any violation of this subchapter and to protect the financial interest of the United States.
(Pub. L. 98–480, title II, §206, Oct. 17, 1984, 98 Stat. 2247.)
CODIFICATIONThis subchapter, the first time it appears in subsec. (b), was in the original "this Act" which was translated as reading "this title", meaning title II of Pub. L. 98–480, Oct. 17, 1984, 98 Stat. 2236, as the probable intent of Congress.
1 See Codification note below.
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