---
kind: "section"
citation: "2 U.S.C. § 157"
title: "2"
title_heading: "The Congress"
number: "157"
heading: "Funds of Library of Congress Trust Fund Board; management of"
release: "119-102"
url: "https://uscodex.org/usc/2/157"
units:
  - "Chapter 5 — Library of Congress"
---

# §157. Funds of Library of Congress Trust Fund Board; management of


The moneys or securities composing the trust funds given or bequeathed to the [board](/usc/2/179u.md?p=2) shall be receipted for by the Secretary of the Treasury, who shall invest, reinvest, or retain investments as the [board](/usc/2/179u.md?p=2) may from time to time determine. The income as and when collected shall be deposited with the Treasurer of the United States, who shall enter it in a special account to the credit of the Library of Congress and subject to disbursement by the [librarian](/usc/2/179u.md?p=1) for the purposes in each case specified; and the Treas­urer of the United States is authorized to honor the requisitions of the [librarian](/usc/2/179u.md?p=1) made in such manner and in accordance with such regulations as the Treasurer may from time to time prescribe: Provided, however, That the [board](/usc/2/179u.md?p=2) is not authorized to engage in any business nor to exercise any voting privilege which may be incidental to securities in its hands, nor shall the [board](/usc/2/179u.md?p=2) make any investments that could not lawfully be made by a trust company in the District of Columbia, except that it may make any investments directly authorized by the instrument of gift, and may retain any investments accepted by it.


## Source credit

(Mar. 3, 1925, ch. 423, § 2, formerly § 1, 43 Stat. 1107, renumbered Apr. 13, 1936, ch. 213, 49 Stat. 1205.)

## Notes

### Editorial Notes

### Codification

Section is comprised of second par. of section 2 of act Mar. 3, 1925. First, third, and fourth pars. of section 2 are classified to sections 156, 158, and 158a of this title, respectively.