22 U.S. Code § 4603 - United States Institute of Peace
The Institute is an independent nonprofit corporation and an organization described in section 170(c)(2)(B) of title 26. The Institute does not have the power to issue any shares of stock or to declare or pay any dividends.
As determined by the Board, the Institute may establish, under the laws of the District of Columbia, a legal entity which is capable of receiving, holding, and investing public funds for purposes in furtherance of the Institute under this chapter. The Institute may designate such legal entity as the “Endowment of the United States Institute for Peace”.
The Institute is liable for the acts of its directors, officers, employees, and agents when acting within the scope of their authority.
1990—Subsec. (e)(1). Pub. L. 101–520 inserted reference to Spark M. Matsunaga Medal of Peace.
1986—Subsec. (b). Pub. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text.