Page:United States Statutes at Large Volume 123.djvu/2309

 123STA T . 22 89PUBLIC LA W 111 – 8 4—O CT. 28 , 2 0 09 SEC.528 . ATHL ET I C ASS O CIATIO NF O R THE AIR FORCE ACA D E MY . (a)INGE NE RAL.—Ch a pter903of t i t l e 1 0 ,Un ite dS tate s Code, isa m ended by addin g at the end the follo w ing new se c tion

‘ §9362.Sup p ort o fa t hle t ic pro g ra ms‘ ‘(a) C O R P ORA TI ON F ORS U PPORT A UT H ORI Z E D .—(1) T he Sec - retary of the Air F orce may, in accordance with the laws of the State of incorporation, establish a corporation (in this section referred to as the ‘corporation ’ )tos u pport the athletic programs of the Academy. All stoc k of the corporation shall be owned by the United States and held in the name of and v oted by the Secretary of the Air Force. ‘‘( 2 ) The corporation shall operate e x clusively for charitable, educational, and civic purposes to support the athletic programs of the Academy. ‘‘(b) CORPORATE O R G ANIZATION.—The corporation shall be orga- ni z ed and operated— ‘‘(1) as a nonprofit corporation under section 5 01 (c)(3) of the Internal R evenue Code of 19 86; ‘‘(2) in accordance with this section; and ‘‘(3) pursuant to the laws of the State of incorporation, its articles of incorporation, and its bylaws. ‘‘(c) CORPORATE B OARD OF D IRE C TOR S .—(1) The members of the board of directors of the corporation shall serve without com- pensation as members of the board, except for reasonable travel and other related expenses for attendance at meetings of the board. ‘‘(2) The Secretary of the Air Force may authorize military and civilian personnel of the Air Force under section 1033 of this title to serve, in their official capacities, as members of the board of directors of the corporation, but such personnel shall not hold more than one-third of the directorships. ‘‘(d) TRANSFERS FRO MN ONAPPROPRIATED FUND OPERATION.— The Secretary of the Air Force may, sub j ect to the acceptance of the corporation, transfer to the corporation all title to and owner- ship of the assets and liabilities of the Air Force nonappropriated fund instrumentality whose functions include providing support for the athletic programs of the Academy, including bank accounts and financial reserves in its accounts, e q uipment, supplies, and other personal property, but excluding any interest in real property. ‘‘(e) ACCEPTANCE OF GIFTS.—The Secretary of the Air Force may accept from the corporation funds, supplies, and services for the support of cadets and Academy personnel during their participa- tion in Academy or corporate events related to the athletic programs of the Academy. ‘‘(f) L EASES.—The Secretary of the Air Force may, in accordance with section 266 7 of this title, lease real and personal property to the corporation for purposes related to the athletic programs of the Academy. Funds received from any such lease may be retained and spent by the Secretary to support athletic programs of the Academy. ‘‘(g) COOPERATI V E AGREEMENTS.—The Secretary of the Air Force may enter into cooperative agreements (as described in section 6305 of title 31) with the corporation for purposes related to the athletic programs of the Academy.’’.