TITLE 36 - US CODE - CHAPTER 203 - AMERICAN ACADEMY OF ARTS AND LETTERS

36 USC 20301 - Organization

(a) Federal Charter.— 
American Academy of Arts and Letters (in this chapter, the corporation) is a federally chartered corporation.
(b) Place of Incorporation.— 
The corporation is declared to be incorporated in the District of Columbia.

36 USC 20302 - Purpose

The purpose of the corporation is to further the interests of literature and the fine arts.

36 USC 20303 - Membership

The corporation may have not more than 50 regular members.

36 USC 20304 - Powers

The corporation may
(1) adopt bylaws and regulations;
(2) fill vacancies;
(3) provide for the election of foreign, domestic, or honorary associate members, and the division of those members into classes;
(4) receive bequests and donations of property, hold the property in trust, and invest the property to carry out the purpose of the corporation; and
(5) do any other act necessary or usual for such a corporation.

36 USC 20305 - Annual meeting

The corporation shall hold an annual meeting at a place in the United States as may be designated.

36 USC 20306 - Annual report

The corporation shall make an annual report to Congress, to be filed with the Librarian of Congress.

36 USC 20307 - Nonapplication of audit requirements

The audit requirements of section 10101 of this title do not apply to the corporation.