| USIP is an independent nonprofit corporation Issue1 #100193 The United States Institute of Peace Act establishes USIP as an independent nonprofit corporation (with powers conferred under the District of Columbia Nonprofit Corporation Act) and an organization described in section 170(c)(2)(B) of the Internal Revenue Code of 1986. |
The United States Institute of Peace Act establishes USIP as follows (see the full text of the Act for full details): "ESTABLISHMENT OF THE INSTITUTE
Sec. 1704. (a) There is hereby established the United States Institute of Peace.
(b) The Institute is an independent nonprofit corporation and an organization described in section 170(c)(2)(B) of the Internal Revenue Code of 1986. The Institute does not have the power to issue any shares of stock or to declare or pay any dividends.
(c) As determined by the Board, the Institute may establish, under the laws of the District of Columbia, a legal entity which is capable of receiving, holding, and investing public funds for purposes in furtherance of the Institute under this title. The Institute may designate such legal entity as the "Endowment of the United States Institute of Peace".
(d) The Institute is liable for the acts of its directors, officers, employees, and agents when acting within the scope of their authority.
(e) (1) The Institute has the sole and exclusive right to use and to allow or refuse others to use the terms "United States Institute of Peace", "Jennings Randolph Program for International Peace", "Spark M. Matsunaga Medal of Peace", and "Endowment of the United States Institute of Peace" and the use of any official United States Institute of Peace emblem, badge, seal, and other mark or recognition or any colorable simulation thereof. No powers or privileges hereby granted shall interfere or conflict with established or vested rights secured as of September 1, 1981.
(2) Notwithstanding any other provision of this title, the Institute may use "United States" or "U.S." or any other reference to the United States Government or Nation in its title or in its corporate seal, emblem, badge, or other mark of recognition or colorable simulation thereof in any fiscal year only if there is an authorization of appropriations for the Institute for such fiscal year provided by law.
POWERS AND DUTIES Sec. 1705. (a) The Institute may exercise the powers conferred upon a nonprofit corporation by the District of Columbia Nonprofit Corporation Act consistent with this title, except for section 5(o) of the District of Columbia Nonprofit Corporation Act (D.C. Code, sec. 29-1005(o))" |