§ 300109 - Endowment fund

CHAPTER 3001— THE AMERICAN NATIONAL RED CROSS

The endowment fund of the corporation shall be kept and invested under the management and control of a board of trustees elected by the board of governors. The corporation shall prescribe policies and regulations on terms and tenure of office, accountability, and expenses of the board of trustees.

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 30010936:9.Jan. 5, 1905, ch. 23, § 8, as added June 23, 1910, ch. 372, § 2, 36 Stat. 604; May 8, 1947, ch. 50, § 7, 61 Stat. 83.

The words “from time to time” are omitted [as] unnecessary.

Editorial Notes

Amendments

2007—Pub. L. 110–26 struck out “nine” before “trustees elected” in first sentence and substituted “The corporation shall prescribe policies and regulations on terms and tenure of office, accountability, and expenses of the board of trustees.” for “The board of governors shall prescribe regulations on terms and tenure of office, accountability, and expenses of the board of trustees.”