§ 5805. — Corporate powers and obligations of Foundation.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 16USC5805]
TITLE 16--CONSERVATION
CHAPTER 78--NATIONAL NATURAL RESOURCES CONSERVATION FOUNDATION
Sec. 5805. Corporate powers and obligations of Foundation
(a) In general
The Foundation--
(1) may conduct business throughout the United States and the
territories and possessions of the United States; and
(2) shall at all times maintain a designated agent who is
authorized to accept service of process for the Foundation, so that
the serving of notice to, or service of process on, the agent, or
mailed to the business address of the agent, shall be considered as
service on or notice to the Foundation.
(b) Seal
The Foundation shall have an official seal selected by the Board
that shall be judicially noticed.
(c) Powers
To carry out the purposes of the Foundation under section 5802(b) of
this title, the Foundation shall have, in addition to the powers
otherwise provided under this chapter, the usual powers of a
corporation, including the power--
(1) to accept, receive, solicit, hold, administer, and use any
gift, devise, or bequest, either absolutely or in trust, of real or
personal property or any income from, or other interest in, the
gift, devise, or bequest;
(2) to acquire by purchase or exchange any real or personal
property or interest in property, except that funds provided under
section 5809 of this title may not be used to purchase an interest
in real property;
(3) unless otherwise required by instrument of transfer, to
sell, donate, lease, invest, reinvest, retain, or otherwise dispose
of any property or income from property;
(4) on the written approval of the Secretary, to use, license,
or transfer symbols, slogans, and logos of the Foundation (exclusive
of any symbol or logo of a governmental entity);
(5) to borrow money from private sources and issue bonds,
debentures, or other debt instruments, subject to section 5808 of
this title, except that the aggregate amount of the borrowing and
debt instruments outstanding at any time may not exceed $1,000,000;
(6) to sue and be sued, and complain and defend itself, in any
court of competent jurisdiction, except that a member of the Board
shall not be personally liable for an action in the performance of
services for the Board, except for gross negligence;
(7) to enter into a contract or other agreement with an agency
of State or local government, educational institution, or other
private organization or person and to make such payments as may be
necessary to carry out the functions of the Foundation; and
(8) to do any and all acts that are necessary to carry out the
purposes of the Foundation.
(d) Interests in property
(1) Interests in real property
The Foundation may acquire, hold, and dispose of lands, waters,
or other interests in real property by donation, gift, devise,
purchase, or exchange. An interest in real property shall be
treated, among other things, as including an easement or other right
for the preservation, conservation, protection, or enhancement of
agricultural, natural, scenic, historic, scientific, educational,
inspirational, or recreational resources.
(2) Gifts
A gift, devise, or bequest may be accepted by the Foundation
even though the gift, devise, or bequest is encumbered, restricted,
or subject to a beneficial interest of a private person if any
current or future interest in the gift, devise, or bequest is for
the benefit of the Foundation.
(3) Use of symbols, slogans, and logos of the Foundation
(A) In general
The Secretary may authorize the Foundation to use, license,
or transfer symbols, slogans, and logos of the Foundation.
(B) Income
(i) In general
All revenue received by the Foundation from the use,
licensing, or transfer of symbols, slogans, and logos of the
Foundation shall be transferred to the Secretary.
(ii) Conservation operations
The Secretary shall transfer all revenue received under
clause (i) to the account within the Natural Resources
Conservation Service that is used to carry out conservation
operations.
(Pub. L. 104-127, title III, Sec. 356, Apr. 4, 1996, 110 Stat. 1013;
Pub. L. 107-171, title II, Sec. 2506, May 13, 2002, 116 Stat. 274.)
Amendments
2002--Subsec. (c)(4) to (8). Pub. L. 107-171, Sec. 2506(1), which
directed amendment of subsection (c) of section 356 of the Federal
Agriculture Improvement Act of 1996 by adding par. (4) and redesignating
former pars. (4) to (7) as (5) to (8), respectively, was executed to
subsec. (c) of this section, which is section 356 of the Federal
Agriculture Improvement and Reform Act of 1996, to reflect the probable
intent of Congress.
Subsec. (d)(3). Pub. L. 107-171, Sec. 2506(2), which directed
amendment of subsection (d) of section 356 of the Federal Agriculture
Improvement Act of 1996 by adding par. (3), was executed to subsec. (d)
of this section, which is section 356 of the Federal Agriculture
Improvement and Reform Act of 1996, to reflect the probable intent of
Congress.
