Highlight any text to annotate

The head of an executive agency may vest title in tangible personal property in a nonprofit institution of higher education or in a nonprofit organization whose primary purpose is conducting scientific research—(1) when the property is bought with amounts provided under a procurement contract, grant agreement, or cooperative agreement with the institution or organization to conduct basic or applied scientific research; (2) when the head of the agency decides the vesting furthers the objectives of the agency; (3) without further obligation to the United States Government; and (4) under conditions the head of the agency considers appropriate. (Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 1004.) Historical and Revision Notes Revised SectionSource (U.S. Code)Source (Statutes at Large) 630641:506.Feb. 3, 1978, Pub. L. 95–224, § 7, 92 Stat. 5. The text of 41:506(a) is omitted as unnecessary because it duplicates the requirements of sections 6303–6305 of the revised title. The word “equipment” is omitted as being included in “tangible personal property”. The words “amounts provided under a contract, grant agreement, or cooperative agreement” are substituted for “such funds” for clarity. The words “decides the vesting” are substituted for “it is deemed” for clarity. The word “conditions” is substituted for “terms and conditions” because it is inclusive.

Add a comment

Sign in to comment on this section.

Annotate the text

Highlight any passage on the Full Text tab to attach a note. Annotations appear on the Annotations tab.