Nothing in sections 154 to 162 and 163 1 of this title shall be construed as prohibiting or restricting the Librarian of Congress from accepting in the name of the United States gifts or bequests of money for immediate disbursement in the interest of the Library, its collections, or its service. Such gifts or bequests, after acceptance by the librarian, shall be paid by the donor or his representative to the Treasurer of the United States, whose receipts shall be their acquittance. The Treasurer of the United States shall enter them in a special account to the credit of the Library of Congress and subject to disbursement by the librarian for the purposes in each case specified.
Upon agreement by the Librarian of Congress and the Board, a gift or bequest accepted by the Librarian under the first paragraph of this section may be invested or reinvested in the same manner as provided for trust funds under section 157 of this title.
(Mar. 3, 1925, ch. 423, §4, 43 Stat. 1108; Pub. L. 105–55, title II, §208, Oct. 7, 1997, 111 Stat. 1194.)
Section 163 of this title, referred to in text, was omitted from the Code.
1997—Pub. L. 105–55 added second par.
1 See References in Text note below.