---
kind: "range"
citation: "22 U.S.C. §§ 276bb–276dd"
title: "22"
from: "276bb"
to: "276dd"
count: 3
release: "119-102"
url: "https://uscodex.org/usc/22/276bb..276dd"
---

# §276bb. Acceptance of funds and property from Mrs. Kermit Roosevelt; purpose and use; disbursement and investment of fund


The [board](/usc/22/2431a.md?p=4) is authorized to accept from Mrs. Kermit Roosevelt such money and property as she may tender, to receipt therefor on behalf of the [United States](/usc/22/1395.md?p=a-1), and to deposit the [funds](/usc/22/2431a.md?p=9) so received in the Treasury of the [United States](/usc/22/1395.md?p=a-1) as the original corpus of a trust [fund](/usc/22/2431a.md?p=9), to be known as the Kermit Roosevelt [fund](/usc/22/2431a.md?p=9), which shall be used for the purpose of fostering a better understanding and a closer relationship between the military forces of the [United States](/usc/22/1395.md?p=a-1) and those of the United Kingdom by sponsoring lectures or courses of instruction to be delivered by officers of the British Army at the [United States](/usc/22/1395.md?p=a-1) Military Academy and elsewhere in the [United States](/usc/22/1395.md?p=a-1) and by officers of the [United States](/usc/22/1395.md?p=a-1) Army at Sandhurst Royal Military College and elsewhere in the United Kingdom or, should such exchange lectures prove or become impracticable or unnecessary for any reason, by such other application of the [funds](/usc/22/2431a.md?p=9) as the [board](/usc/22/2431a.md?p=4), with the approval of the [Secretary](/usc/22/277d–43.md?p=5) of the Army may determine. The original corpus of the [fund](/usc/22/2431a.md?p=9) and the income therefrom may be disbursed at the discretion of the [board](/usc/22/2431a.md?p=4) in furtherance of the stated purpose, and shall be subject to investment and reinvestment as provided in [section 276cc of this title](/usc/22/276cc.md).


# §276cc. Acceptance of funds and property from other sources; limitation; disbursement and investment


The [board](/usc/22/2431a.md?p=4) is also authorized to accept, receive, hold, and administer gifts, bequests and devises of money, securities, or other property, whether real or personal, from any source, for the benefit of the Kermit Roosevelt [fund](/usc/22/2431a.md?p=9), but no such gift, bequest, or devise which entails any expenditure not to be met out of the gift, bequest, devise, or the income thereof shall be accepted without the consent of Congress. Such additional sums or property shall be receipted for by the Chief of Finance and may, at the discretion of the [board](/usc/22/2431a.md?p=4) and unless otherwise restricted by the terms of the gift, bequest, or devise, be administered and disbursed in the same manner as the original corpus of the [fund](/usc/22/2431a.md?p=9) and the income therefrom. The [board](/usc/22/2431a.md?p=4) may in its discretion sell or exchange securities or other property given, bequeathed, or devised to or for the benefit of the Kermit Roosevelt [fund](/usc/22/2431a.md?p=9), and may invest and reinvest the proceeds thereof, together with any other moneys in the [fund](/usc/22/2431a.md?p=9), in such investments as it may determine from time to time: Provided, however, That the [board](/usc/22/2431a.md?p=4) is not authorized to engage in any business, nor shall it make any investments for the account of the [fund](/usc/22/2431a.md?p=9) which could not lawfully be made by a trust company in the District of Columbia, except that it may make any investment directly authorized by the instrument of gift, bequest, or devise under which the [funds](/usc/22/2431a.md?p=9) to be invested are derived, and may retain any investments accepted by it.


# §276dd. Income from property covered into Treasury; disbursement and investment


The income from any property held or administered by the [board](/usc/22/2431a.md?p=4), as and when collected, shall be deposited in the Treasury of the [United States](/usc/22/1395.md?p=a-1) to the credit of the trust [fund](/usc/22/2431a.md?p=9) established pursuant to [section 276bb of this title](/usc/22/276bb.md), and it shall be and remain subject to investment, reinvestment, and disbursement by the [board](/usc/22/2431a.md?p=4) for the uses and purposes set forth herein.