Page:United States Statutes at Large Volume 110 Part 5.djvu/311

 PUBLIC LAW 104-285—OCT. 11, 1996 110 STAT. 3385 (1) to accept, receive, solicit, hold, administer, and use any gift, devise, or bequest, either absolutely or in trust, of real or personal property or any income therefrom or other interest therein; (2) to acquire by purchase or exchange any real or personal property or interest therein; (3) unless otherwise required by the instrument of transfer, to sell, donate, lease, invest, reinvest, retain, or otherwise dispose of smy property or income therefrom; (4) to borrow money and issue bonds, debentures, or other debt instruments; (5) to sue and be sued, and complain and defend itself in any court of competent jurisdiction, except that the Directors of the Board shall not be personally liable, except for gross negligence; (6) to enter into contracts or other arrangements with public agencies and private organizations and persons and to make such payments as may be necessary to carry out its functions; and (7) to do any and all acts necessary and proper to carry out the purposes of the Foundation. A gift, devise, or bequest may be accepted by the Foiuidation even though it is encumbered, restricted, or subject to beneficial interests of private persons, if any current or future interest therein is for the benefit of the Foundation. SEC. 205. ADMINISTRATIVE SERVICES AND SUPPORT. 36 USC 5704. The Librarian may provide personnel, facilities, and other administrative services to the Foundation, including reimbursement of expenses under section 203, not to exceed the current per diem rates for the Federal Government, and the Foundation shall reimburse the Librarian therefor. Amounts so reimbursed shall be deposited in the Treasury to the credit of the appropriations then current and chargeable for the cost of providing such services. SEC. 206. VOLUNTEER STATUS. 36 USC 5705. The Librarian may accept, without regard to the civil service classification laws, rules, or regulations, the services of the Foundation, the Board, and other officers and employees of the Board, without compensation from the Library of Congress, as volunteers in the performance of the functions authorized in this title. SEC. 207. AUDITS, REPORT REQUIREMENTS, AND PETITION OF 36 USC 5706. ATTORNEY GENERAL, FOR EQUITABLE RELIEF. (a) AUDITS. — The Foundation shall be treated as a private corporation established under Federal law for purposes of the Act entitled "An Act to provide for audit of accounts of private corporations established under Federal law.", approved August 30, 1964 (36 U.S.C. 1101-1103). (b) REPORT.— The Foundation shall, as soon as practicable after the end of each fiscal year, transmit to the Congress a report of its proceedings and activities during such year, including a full and complete statement of its receipts, expenditures, and investments. (c) RELIEF WITH RESPECT TO CERTAIN FOUNDATION ACTS OR FAILURE TO ACT. — If the Foundation—

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