54 U.S.C. § 101115 — Corporate succession and powers and duties acting as trustee; personal liability for malfeasance

FEDERAL · 54 U.S.C. · Chapter 1011

Corporate succession and powers and duties acting as trustee; personal liability for malfeasance

Current through Pub. L. 119-102

Title 54 — National Park Service and Related Programs·Ch. 1011 — DONATIONS·Subch. II

(a)Perpetual Succession.—The National Park Foundation shall have perpetual succession.

(b)Powers and Duties of Trustee.—The National Park Foundation shall have all the usual powers and obligations of a corporation acting as a trustee, including the power to sue and to be sued in its own name.

(c)Personal Liability of Board Members.—The members of the Board shall not be personally liable, except for malfeasance.

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(a) Perpetual Succession.—The National Park Foundation shall have perpetual succession.
(b) Powers and Duties of Trustee.—The National Park Foundation shall have all the usual powers and obligations of a corporation acting as a trustee, including the power to sue and to be sued in its own name.
(c) Personal Liability of Board Members.—The members of the Board shall not be personally liable, except for malfeasance.

54 U.S.C. § 101115 (Corporate succession and powers and duties acting as trustee; personal liability for malfeasance) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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History

(Pub. L. 113–287, §3, Dec. 19, 2014, 128 Stat. 3121.)