Page:United States Statutes at Large Volume 82.djvu/1334

 1292

63 Stat. 381.

PUBLIC LAW 90-620-OCT. 22, 1968

[82 STAT.

§ 2301. Establishment of Board; membership The National Archives Trust Fund Board shall consist of the Archivist of the United States, as Chairman, and the chairman of the House of Representatives, Committee on Post Office and Civil Service and the chairman of the Senate Committee on Post Office and Civil Service. The authority of the Administrator of General Services under section 754 of title 40 to regroup, transfer, and distribute functions within the General Services Administration does not extend to the Board or its functions. Membership on the Board is not an office within the meaning of the statutes of the United States. §2302. Authority of Board; seal; employees; bylaws, rules, regulations I n carrying out the purposes of this chapter, the Board may— (1) adopt an official seal, which shall be judicially noticed; (2) appoint, or authorize the Chairman to appoint, without regard to the civil-service laws, necessary employees, and fix their duties; and (3) adopt bylaws, rules, and regulations necessary for the administration of its functions under this chapter. § 2303. Powers and obligations of Board; liability of members The Board shall have all the usual powers and obligations of a trustee with respect to property and funds administered by it, but the members of the Board are not personally liable, except for malfeasance. § 2304. Compensation of members; availability of trust funds for expenses of Board Compensation may not be paid to the members of the Board for their services as members. Costs incurred by the Board in carrying out its duties under this chapter, including the expenditures necessarily made by the members of the Board in the performance of their duties and the compensation of persons employed by the Board, shall be paid out of income from trust funds available to the Board for the purpose. Unless otherwise restricted by the instrument of gift or bequest, the Board, by resolution, may authorize the Chairman to use for these purposes, or for any other purpose for which funds may be expended under this chapter, the principal of a gift or bequest accepted under this chapter. § 2305. Acceptance of gifts The Board may accept, receive, hold, and administer gifts or bequests of money, securities, or other personal property, for the benefit of or in connection with the national archival and records activities administered by the General Services Administration as may be approved by the Board. § 2306. Investment of funds The Secretary of the Treasury shall receipt for moneys or securities composing trust funds given or bequeathed to the Board and shall invest, reinvest, and retam the moneys or securities as the Board from time to time determines. The Board may not engage in business or exercise a voting privilege which may be incidental to securities in such trust funds, nor may the Secretary of the Treasury make investments for the account of the Board which could not lawfully be made by a trust company in the District of Columbia, unless directly authorized by the instrument of gift or bequest under which the funds to be invested are derived, and may retain investments accepted by the Board.

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