§ 4302 - Property rights

CHAPTER 55— EDUCATION OF THE DEAF › SUBCHAPTER I— GALLAUDET UNIVERSITY; NATIONAL TECHNICAL INSTITUTE FOR THE DEAF; OTHER PROGRAMS

(a) Gallaudet University is vested with all the property and the rights of property, and shall have and be entitled to use all authority, privileges, and possessions and all legal rights which it has, or which it had or exercised under any former name, including the right to sue and be sued and to own, acquire, sell, mortgage, or otherwise dispose of property it may own now or hereafter acquire. Gallaudet University shall also be subject to all liabilities and obligations now outstanding against the corporation under any former name.

(b)(1) With the approval of the Secretary, the Board of Trustees of Gallaudet University may convey fee simple title by deed, convey by quitclaim deed, mortgage, or otherwise dispose of any or all real property title to which is vested in Gallaudet University, Gallaudet College, the Columbia Institution for the Deaf, or any predecessor corporation.

(b)(2) The proceeds of any such disposition shall be considered a part of the capital structure of the corporation, and may be used solely for the acquisition of real estate for the use of the corporation, for the construction, equipment, or improvement of buildings for such use, or for investment purposes, but, if invested, only the income from the investment may be used for current expenses of the corporation.

Notes

Editorial Notes

Prior Provisions

Provisions similar to this section were contained in section 691b of this title, prior to repeal by Pub. L. 99–371.

Amendments

1993—Subsec. (b)(1). Pub. L. 103–73, § 203(b)(1), substituted “Secretary” for “Secretary of Education”.

Subsec. (b)(2). Pub. L. 103–73, § 203(b)(2), substituted “but, if invested,” for “but if invested”.

Statutory Notes and Related Subsidiaries

Real Property Provisions

The following acts contained provisions relating to acquisition, exchange, and adjustment of boundaries of properties of Gallaudet University and its predecessors, Gallaudet College and Columbia Institution for the Deaf:

July 1, 1916, ch. 209, 39 Stat. 310.

Aug. 3, 1939, ch. 414, 53 Stat. 1179.

Sept. 13, 1960, Pub. L. 86–776, §§ 1, 2, 74 Stat. 916, 917.

Nov. 20, 1981, Pub. L. 97–80, title II, § 202(a)(1), 95 Stat. 1082.