§154. Library of Congress Trust Fund Board; members; quorum; seal; rules and regulations

A board is created and established, to be known as the "Library of Congress Trust Fund Board" (hereinafter referred to as the board), which shall consist of the Secretary of the Treasury (or an Assistant Secretary designated in writing by the Secretary of the Treasury), the chairman of the Joint Committee on the Library, the Librarian of Congress, two persons appointed by the President for a term of five years each (the first appointments being for three and five years, respectively), four persons appointed by the Speaker of the House of Representatives (in consultation with the minority leader of the House of Representatives) for a term of five years each (the first appointments being for two, three, four, and five years, respectively), and four persons appointed by the majority leader of the Senate (in consultation with the minority leader of the Senate) for a term of five years each (the first appointments being for two, three, four, and five years, respectively). Nine members of the board shall constitute a quorum for the transaction of business, and the board shall have an official seal, which shall be judicially noticed. The board may adopt rules and regulations in regard to its procedure and the conduct of its business.

(Mar. 3, 1925, ch. 423, §1, 43 Stat. 1107 ; May 12, 1978, Pub. L. 95–277, 92 Stat. 236 ; Feb. 18, 1992, Pub. L. 102–246, §§1, 2, 106 Stat. 31 .)

Codification

Section is comprised of first par. of section 1 of act Mar. 3, 1925. Second par. of section 1 is classified to section 155 of this title.

Amendments

1992-Pub. L. 102–246 struck out "and" after "Librarian of Congress," inserted ", four persons appointed by the Speaker of the House of Representatives (in consultation with the minority leader of the House of Representatives) for a term of five years each (the first appointments being for two, three, four, and five years, respectively), and four persons appointed by the majority leader of the Senate (in consultation with the minority leader of the Senate) for a term of five years each (the first appointments being for two, three, four, and five years, respectively)" after "respectively)", and substituted "Nine" for "Three".

1978-Pub. L. 95–277 inserted "(or an Assistant Secretary designated in writing by the Secretary of the Treasury)".

Short Title

Act Mar. 3, 1925, enacting sections 154 to 162 and 163 of this title, is popularly known as the "Library of Congress Trust Fund Board Act".

Section Referred to in Other Sections

This section is referred to in section 160 of this title.