Volume 83 · 43
Public Law 91–37
To amend the Act entitled “An Act to incorporate the National Education Association of the United States”, approved June 30, 1906 (34 Stat. 804).
Approved June 30, 1969
Statutory text
AN ACT
To amend the Act entitled “An Act to incorporate the National Education Association of the United States”, approved June 30, 1906 (34 Stat. 804).
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That section 3 of the Act entitled “An Act to incorporate the National Education Association of the United States”, approved June 30, 1906 (34 Stat. 804), as amended, is amended to read as follows:
“Sec. 3.
That the said corporation shall further have power to have and to use a common seal, and to alter and change the same at its pleasure; to sue or to be sued in any court of the United States, or other court of competent jurisdiction; to make bylaws not inconsistent with the provisions of this Act or of the Constitution of the United States; to take or receive, whether by gift, grant, devise, bequest, or purchase, any real or personal estate, and to hold, grant, transfer, sell, convey, hire, or lease the same for the purpose of its incorporation; to accept and administer any trust of real or personal estate for any educational purpose within the objects of the corporation; and to borrow money for its corporate purposes, issue bonds therefor, and secure the same by mortgage, deed of trust, pledge, or otherwise.”
Section 6(a) of such Act, as amended, is amended by deleting “a
Board of Trustees,”.
Section 7 of such Act, as amended, is amended to read as follows:
Permanent Fund.
“Sec. 7.
(a) The invested fund now known as the ‘Permanent Fund of the National Education Association,’ shall be held in such corporation as a Permanent Fund and shall be in charge of the Executive Committee, which shall provide for the safekeeping and investment of such fund, and of all other funds which the corporation may receive by donation, bequest, or devise. No part of the principal of such Permanent
Transfer limitation.
Fund or its accretions shall be expended or transferred to the General Fund, except by a two-thirds vote of the Representative Assembly, after the proposed expenditure or transfer has been approved by the Executive Committee and the Board of Directors, and after printed notice of the proposed expenditure or transfer has been printed in the Journal of the National Education Association at least two months prior to the meeting of the Representative Assembly.
“(b) The income of the Permanent Fund shall be used only to meet
Income, use.
the cost of maintaining the organization of the Association and of publishing its annual volume of Proceedings, unless the terms of the donation, bequest, or devise shall otherwise specify or the bylaws of the corporation shall otherwise provide.
“(c) The Executive Committee shall elect the secretary of the Association,
Executive Committee secretary election.
who shall be secretary of the Executive Committee, and shall secretary, fix the compensation and the term of his office for a period not to exceed election. four years.’
Sec. 2.
Upon the adoption by the Representative Assembly of the
Termination.
National Education Association of amended bylaws to provide for the administration of the property of the corporation and for the selection of the secretary of the Association, section 7 of the Act June 30, 1906 (34 Stat. 804), shall be of no further force and effect.
Approved June 30, 1969.