-CITE-

36 USC CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION 01/06/03

-EXPCITE-

TITLE 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND

ORGANIZATIONS

Subtitle II - Patriotic and National Organizations

Part B - Organizations

CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION

-HEAD-

CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION

-MISC1-

Sec.

151901. Organization.

151902. Purposes.

151903. Membership.

151904. Governing body.

151905. Powers.

151906. Restrictions.

151907. Principal office.

151908. Records and inspection.

151909. Service of process.

151910. Liability for acts of officers and agents.

151911. Distribution of assets on dissolution or final

liquidation.

-End-

-CITE-

36 USC Sec. 151901 01/06/03

-EXPCITE-

TITLE 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND

ORGANIZATIONS

Subtitle II - Patriotic and National Organizations

Part B - Organizations

CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION

-HEAD-

Sec. 151901. Organization

-STATUTE-

(a) Federal Charter. - National Fund for Medical Education (in

this chapter, the "corporation") is a federally chartered

corporation.

(b) Place of Incorporation and Domicile. - The corporation is

declared to be incorporated and domiciled in the District of

Columbia.

(c) Perpetual Existence. - Except as otherwise provided, the

corporation has perpetual existence.

-SOURCE-

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1407.)

-MISC1-

HISTORICAL AND REVISION NOTES

--------------------------------------------------------------------

Revised Source (U.S. Code) Source (Statutes at Large)

Section

--------------------------------------------------------------------

151901 36:601. Aug. 28, 1954, ch. 1036,

Secs. 1, 2, 4(1), 68 Stat.

891, 892.

36:602.

36:604(1).

--------------------------------------------------------------------

This section is substituted for the source provisions for

consistency in the revised title and to eliminate unnecessary and

executed words.

-End-

-CITE-

36 USC Sec. 151902 01/06/03

-EXPCITE-

TITLE 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND

ORGANIZATIONS

Subtitle II - Patriotic and National Organizations

Part B - Organizations

CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION

-HEAD-

Sec. 151902. Purposes

-STATUTE-

The purposes of the corporation are to raise from private

sources, administer, and disperse funds for medical education, and

in carrying out those purposes, to take other appropriate action to

promote -

(1) the interpretation of the needs of medical education to the

American public;

(2) the encouragement of the growth, development, and

advancement of constantly improving standards and methods in the

education and training of all medical personnel in the United

States; and

(3) the preservation of academic freedom in the institutions of

medical education.

-SOURCE-

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1408.)

-MISC1-

HISTORICAL AND REVISION NOTES

--------------------------------------------------------------------

Revised Source (U.S. Code) Source (Statutes at Large)

Section

--------------------------------------------------------------------

151902 36:603. Aug. 28, 1954, ch. 1036,

Sec. 3, 68 Stat. 892.

--------------------------------------------------------------------

The words "in carrying out those purposes" are substituted for

"in connection therewith" for clarity. In clause (2), the word

"personnel" is substituted for "manpower" to use a word that is

gender-neutral.

-End-

-CITE-

36 USC Sec. 151903 01/06/03

-EXPCITE-

TITLE 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND

ORGANIZATIONS

Subtitle II - Patriotic and National Organizations

Part B - Organizations

CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION

-HEAD-

Sec. 151903. Membership

-STATUTE-

(a) Eligibility. - Except as provided in this chapter,

eligibility for membership in the corporation and the rights,

privileges, and designation of classes of members are as provided

in the constitution and bylaws of the corporation.

(b) Voting. - Each member (except an honorary, sustaining, or

associate member) has one vote on each matter submitted to a vote

at a meeting of the members.

-SOURCE-

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1408.)

-MISC1-

HISTORICAL AND REVISION NOTES

--------------------------------------------------------------------

Revised Source (U.S. Code) Source (Statutes at Large)

Section

--------------------------------------------------------------------

151903 36:606. Aug. 28, 1954, ch. 1036,

Sec. 6, 68 Stat. 893.

--------------------------------------------------------------------

In subsection (a), the words "are as provided in the constitution

and bylaws of the corporation" are substituted for "shall . . . be

determined as the constitution and bylaws of the corporation may

provide" for consistency in the revised title and to eliminate

unnecessary words.

In subsection (b), the words "the right to" are omitted as

unnecessary.

-End-

-CITE-

36 USC Sec. 151904 01/06/03

-EXPCITE-

TITLE 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND

ORGANIZATIONS

Subtitle II - Patriotic and National Organizations

Part B - Organizations

CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION

-HEAD-

Sec. 151904. Governing body

-STATUTE-

(a) Board of Directors. - (1) The board of directors is the

governing body of the corporation. Between meetings of the members

of the corporation, the board is responsible for the general

policies and program of the corporation and for the control of all

funds of the corporation.

(2) The number of directors, their manner of selection (including

the filling of vacancies), and their term of office are as provided

in the constitution and bylaws of the corporation. However -

(A) the corporation shall have at least 15 but not more than 25

directors; and

(B) at least four of the directors shall be members of the

medical profession.

(b) Officers. - (1) The officers of the corporation are a

chairman of the board of directors, a president, one or more vice

presidents as provided in the constitution and bylaws, a secretary,

a treasurer, and one or more assistant secretaries and assistant

treasurers as provided in the constitution and bylaws.

(2) The manner of election, term of office, and duties of the

officers are as provided in the constitution and bylaws.

-SOURCE-

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1408.)

-MISC1-

HISTORICAL AND REVISION NOTES

--------------------------------------------------------------------

Revised Source (U.S. Code) Source (Statutes at Large)

Section

--------------------------------------------------------------------

151904(a) 36:607. Aug. 28, 1954, ch. 1036,

Secs. 7, 8, 68 Stat. 893.

151904(b) 36:608.

--------------------------------------------------------------------

In subsection (a), the text of 36:607(a) is omitted as obsolete.

In paragraph (1), the words "control of all funds of the

corporation" are substituted for "control of all contributed funds

as may be raised by the corporation" to eliminate unnecessary

words.

-End-

-CITE-

36 USC Sec. 151905 01/06/03

-EXPCITE-

TITLE 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND

ORGANIZATIONS

Subtitle II - Patriotic and National Organizations

Part B - Organizations

CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION

-HEAD-

Sec. 151905. Powers

-STATUTE-

The corporation may -

(1) adopt and amend a constitution and bylaws for the

management of its property and the regulation of its affairs;

(2) adopt and alter a corporate seal;

(3) choose officers, managers, employees, and agents as the

activities of the corporation require;

(4) make contracts;

(5) acquire, own, lease, encumber, and transfer property as

necessary or convenient to carry out the purposes of the

corporation;

(6) borrow money, issue instruments of indebtedness, and secure

its obligations by granting security interests in its property;

and

(7) sue and be sued.

-SOURCE-

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1408.)

-MISC1-

HISTORICAL AND REVISION NOTES

--------------------------------------------------------------------

Revised Source (U.S. Code) Source (Statutes at Large)

Section

--------------------------------------------------------------------

151905 36:604(2)-(9). Aug. 28, 1954, ch. 1036,

Secs. 4(2)-(9), 16, 68 Stat.

892, 895.

36:616.

--------------------------------------------------------------------

In this section, the text of 36:616 is omitted as executed and

obsolete.

In clause (1), the word "alter" is omitted as included in

"amend". The words "not inconsistent with the laws of the United

States or any State in which the corporation is to operate" are

omitted as unnecessary.

In clause (2), the word "use" is omitted as unnecessary.

In clause (3), the word "activities" is substituted for

"business" for consistency in the revised title.

Clause (5) is substituted for "take by lease, gift, purchase,

grant, devise, or bequest from any private corporation,

association, partnership, firm or individual and to hold any

property, real, personal or mixed, necessary or convenient for

attaining the objects and carrying into effect the purposes of the

corporation" and "transfer, convey, lease, sublease, encumber and

otherwise alienate real, personal or mixed property" for

consistency in the revised title and to eliminate unnecessary

words. The words "subject, however, to applicable provisions of law

of any State (A) governing the amount or kind of property which may

be held by, or (B) otherwise limiting or controlling the ownership

of property by, a corporation operating in such State" are omitted

as unnecessary.

In clause (6), the words "for the purposes of the corporation"

are omitted as unnecessary. The words "issue instruments of

indebtedness, and secure its obligations by granting security

interests in its property" are substituted for "issue bonds

therefor, and secure the same by mortgage, deed of trust, pledge or

otherwise" for consistency in the revised title. The words "subject

in every case to all applicable provisions of Federal and State

laws" are omitted as unnecessary.

In clause (7), the words "complain and defend in any court of

competent jurisdiction" are omitted as unnecessary.

-End-

-CITE-

36 USC Sec. 151906 01/06/03

-EXPCITE-

TITLE 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND

ORGANIZATIONS

Subtitle II - Patriotic and National Organizations

Part B - Organizations

CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION

-HEAD-

Sec. 151906. Restrictions

-STATUTE-

(a) Stock and Dividends. - The corporation may not issue stock or

declare or pay a dividend.

(b) Political Activities. - The corporation or a director or

officer as such may not contribute to, support, or assist a

political party or candidate for public office.

(c) Distribution of Income or Assets. - The income or assets of

the corporation may not inure to the benefit of, or be distributed

to, a director, officer, or member during the life of the

corporation or on its dissolution or final liquidation. This

subsection does not prevent the payment of compensation to an

officer in an amount approved by the board of directors.

(d) Loans. - The corporation may not make a loan or advance to a

director, officer, or employee. Directors who vote for or assent to

making a loan or advance to a director, officer, or employee, and

officers who participate in making the loan or advance, are jointly

and severally liable to the corporation for the amount of the loan

or advance until it is repaid.

-SOURCE-

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1409.)

-MISC1-

HISTORICAL AND REVISION NOTES

--------------------------------------------------------------------

Revised Source (U.S. Code) Source (Statutes at Large)

Section

--------------------------------------------------------------------

151906(a) 36:612. Aug. 28, 1954, ch. 1036,

Secs. 9, 10, 12, 68 Stat.

894.

151906(b) 36:610.

151906(c) 36:609(a).

151906(d) 36:609(b).

--------------------------------------------------------------------

In subsection (a), the words "any shares of" are omitted as

unnecessary.

In subsection (c), the words "inure to the benefit of" are

substituted for "inure to" for consistency in the revised title.

The words "This subsection does not" are substituted for "Nothing

in this subsection, however, shall be construed to" for consistency

in the revised title and to eliminate unnecessary words.

In subsection (d), the words "or advance" are added in 2 places

for consistency in the subsection.

-End-

-CITE-

36 USC Sec. 151907 01/06/03

-EXPCITE-

TITLE 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND

ORGANIZATIONS

Subtitle II - Patriotic and National Organizations

Part B - Organizations

CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION

-HEAD-

Sec. 151907. Principal office

-STATUTE-

The principal office of the corporation shall be in New York, New

York, or another place decided by the board of directors. However,

the activities of the corporation are not confined to the place

where the principal office is located but may be conducted

throughout the States, territories, and possessions of the United

States.

-SOURCE-

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1409.)

-MISC1-

HISTORICAL AND REVISION NOTES

--------------------------------------------------------------------

Revised Source (U.S. Code) Source (Statutes at Large)

Section

--------------------------------------------------------------------

151907 36:605(a). Aug. 28, 1954, ch. 1036,

Sec. 5(a), 68 Stat. 893.

--------------------------------------------------------------------

The word "various" is omitted as unnecessary.

-End-

-CITE-

36 USC Sec. 151908 01/06/03

-EXPCITE-

TITLE 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND

ORGANIZATIONS

Subtitle II - Patriotic and National Organizations

Part B - Organizations

CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION

-HEAD-

Sec. 151908. Records and inspection

-STATUTE-

(a) Records. - The corporation shall keep -

(1) correct and complete records of account;

(2) minutes of the proceedings of its members, board of

directors, and committees having any of the authority of its

board of directors; and

(3) at its principal office, a record of the names and

addresses of its members entitled to vote.

(b) Inspection. - A member entitled to vote, or an agent or

attorney of the member, may inspect the records of the corporation

for any proper purpose, at any reasonable time.

-SOURCE-

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1409.)

-MISC1-

HISTORICAL AND REVISION NOTES

--------------------------------------------------------------------

Revised Source (U.S. Code) Source (Statutes at Large)

Section

--------------------------------------------------------------------

151908 36:613. Aug. 28, 1954, ch. 1036,

Sec. 13, 68 Stat. 894.

--------------------------------------------------------------------

The word "records" is substituted for "books and records" for

consistency in the revised title and with other titles of the

United States Code.

-End-

-CITE-

36 USC Sec. 151909 01/06/03

-EXPCITE-

TITLE 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND

ORGANIZATIONS

Subtitle II - Patriotic and National Organizations

Part B - Organizations

CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION

-HEAD-

Sec. 151909. Service of process

-STATUTE-

The corporation shall have a designated agent in the District of

Columbia to receive service of process for the corporation. Notice

to or service on the agent, or mailed to the business address of

the agent, is notice to or service on the corporation.

-SOURCE-

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1409.)

-MISC1-

HISTORICAL AND REVISION NOTES

--------------------------------------------------------------------

Revised Source (U.S. Code) Source (Statutes at Large)

Section

--------------------------------------------------------------------

151909 36:605(b). Aug. 28, 1954, ch. 1036,

Sec. 5(b), 68 Stat. 893.

--------------------------------------------------------------------

-End-

-CITE-

36 USC Sec. 151910 01/06/03

-EXPCITE-

TITLE 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND

ORGANIZATIONS

Subtitle II - Patriotic and National Organizations

Part B - Organizations

CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION

-HEAD-

Sec. 151910. Liability for acts of officers and agents

-STATUTE-

The corporation is liable for the acts of its officers and agents

acting within the scope of their authority.

-SOURCE-

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1409.)

-MISC1-

HISTORICAL AND REVISION NOTES

--------------------------------------------------------------------

Revised Source (U.S. Code) Source (Statutes at Large)

Section

--------------------------------------------------------------------

151910 36:611. Aug. 28, 1954, ch. 1036,

Sec. 11, 68 Stat. 894.

--------------------------------------------------------------------

-End-

-CITE-

36 USC Sec. 151911 01/06/03

-EXPCITE-

TITLE 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND

ORGANIZATIONS

Subtitle II - Patriotic and National Organizations

Part B - Organizations

CHAPTER 1519 - NATIONAL FUND FOR MEDICAL EDUCATION

-HEAD-

Sec. 151911. Distribution of assets on dissolution or final

liquidation

-STATUTE-

On dissolution or final liquidation of the corporation, any

assets remaining after the discharge of all liabilities shall be

distributed as provided by the board of directors, but in

compliance with the constitution and bylaws of the corporation.

-SOURCE-

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1410.)

-MISC1-

HISTORICAL AND REVISION NOTES

--------------------------------------------------------------------

Revised Source (U.S. Code) Source (Statutes at Large)

Section

--------------------------------------------------------------------

151911 36:615. Aug. 28, 1954, ch. 1036,

Sec. 15, 68 Stat. 895.

--------------------------------------------------------------------

The word "satisfaction" is omitted as included in "discharge",

and the word "obligations" is omitted as included in "liabilities".

The words "outstanding" and "all Federal and State laws applicable

thereto" are omitted as unnecessary.

-End-