Page:United States Statutes at Large Volume 78.djvu/541

 78 STAT. ]

PUBLIC LAW 88-449-AUG. 19, 1964 BOOKS AND R E C O R D S; INSPECTION

SEC. 11. The corporation shall keep correct and complete books and records of account. It shall also keep minutes of the proceedings of its board of trustees, and committees having any of the authority of the board of trustees. The corporation shall also keep at its principal office a record of the names and addresses of its members entitled to vote. All books and records of the corporation shall be open for inspection by any member of the corporation or his agent or attorney tor any proper purpose at any reasonable time. DIVIDENDS

SEC. 12. The corporation shall have no power to issue shares of stock or to declare or pay dividends. USE OF I N C O M E; L O A N S TO OFFICERS, TRUSTEES, OR EMPLOYEES

SEC. 13. (a) No part of the income or assets of the corporation shall inure to any member, officer, or trustee, or be distributable to any such person during the life of the corporation or upon dissolution or final liquidation. Nothing in this subsection, however, shall be construed to prevent the payment of reasonable compensation to officers of the corporation in amounts approved by the board of trustees of the corporation. (b) The corporation shall not make loans to its officers, trustees, or employees. Any trustee who votes for or assents to the making of a loan to an officer, trustee, or employee of the corporation, and any officer who participates in the making of such loan, shall be jointly and severally liable to the corporation for the amount of such loan until the repayment thereof. USE OF ASSETS ON DISSOLUITON OR LIQUIDATION

SEC. 14. Upon dissolution or final liquidation of the corporation, all assets remaining after the corporation's liabilities have been satisfied, shall be distributed to the United States Government, to be administered by the Secretary of the Interior, under the Act of August 25, 1916 (39 Stat. 535; 16 U.S.C. 1 et seq.), as amended and supplemented, or to a State or local government to be used for a public purpose, in accordance with the determination of the board of trustees, consistent with the purposes of the corporation, and in compliance with the charter and bylaws of the corporation and Federal and State laws. NONPOLITTCAL NATURE OF CORPORATION

SEC. 15. The corporation, and its officers and trustees as such, shall not contribute to or otherwise support or assist any political party or candidate for elective public office. EXCLUSIVE USE OF NAME

SEC. 16. The corporation shall have the sole and exclusive right to use and to authorize the use of the name "Pacific Tropical Botanical Garden." RESERVATION or RIGHT TO AMEND OR REPEAL CHARTER

SEC. 17. The n g h t to alter, amend, or repeal this Act is expressly reserved to the Congress. Approved August 19, 1964.

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