CHAPTER 203 —AMERICAN ACADEMY OF ARTS AND LETTERS
§20301. Organization
(a)
(b)
(
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 20301 | 36:4201. | Apr. 17, 1916, ch. 77, §1, |
This section is substituted for the source provision for consistency in the revised title and to eliminate executed and unnecessary words.
§20302. Purpose
The purpose of the corporation is to further the interests of literature and the fine arts.
(
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 20302 | 36:4202. | Apr. 17, 1916, ch. 77, §2, |
The words "is to further" are substituted for "are and shall be the furtherance of" to eliminate unnecessary words.
§20303. Membership
The corporation may have not more than 50 regular members.
(
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 20303 | 36:4203 (words before 1st comma). | Apr. 17, 1916, ch. 77, §3 (words before 1st comma), |
The words "may have not more than" are substituted for "shall consist of not more than" for clarity and consistency.
§20304. Powers
The corporation may—
(1) adopt bylaws and regulations;
(2) fill vacancies;
(3) provide for the election of foreign, domestic, or honorary associate members, and the division of those members into classes;
(4) receive bequests and donations of property, hold the property in trust, and invest the property to carry out the purpose of the corporation; and
(5) do any other act necessary or usual for such a corporation.
(
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 20304 | 36:4203 (words after 1st comma). | Apr. 17, 1916, ch. 77, §§3 (words after 1st comma), 5, |
| 36:4205. |
In clause (1), the word "regulations" is substituted for "rules and regulations" to avoid redundancy.
In clause (2), the words "created by death, resignation, or otherwise" in 36:4203 are omitted as unnecessary.
In clause (4), the words "be, and the same is hereby, authorized and empowered to" in 36:4205 are omitted because of the word "may" restated before clause (1). The words "real and personal" and "and reinvest" are omitted as unnecessary. The words "to carry out the purpose of the corporation" are substituted for "for the purpose of furthering the interests of literature and the fine arts" for consistency.
§20305. Annual meeting
The corporation shall hold an annual meeting at a place in the United States as may be designated.
(
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 20305 | 36:4204 (related to meeting). | Apr. 17, 1916, ch. 77, §4 (related to meeting), |
§20306. Annual report
The corporation shall make an annual report to Congress, to be filed with the Librarian of Congress.
(
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 20306 | 36:4204 (related to report). | Apr. 17, 1916, ch. 77, §4 (related to report), |
Statutory Notes and Related Subsidiaries
Termination of Reporting Requirements
For termination, effective May 15, 2000, of reporting provisions in this section, see section 3003 of
§20307. Nonapplication of audit requirements
The audit requirements of
(
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 20307 | (no source). |
This section is added to except the American Academy of Arts and Letters from the application of section 10101 of the revised title, restating 36:1101–1103, which imposes audit requirements on certain federally chartered corporations. The Academy is not included in the list of corporations set out in 36:1101 to which the audit requirements apply.