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36 U.S.C. § 220552 — Dissolution of board of directors of corporation and termination of recognition of national governing bodies
Federal law — U.S. Code and appendices · legal_authorities
**(a) Dissolution of Board of Directors of Corporation.—** Effective on the date of enactment of a joint resolution described in section 220551(2)(A) with respect to the board of directors of the corporation, such board of directors shall be dissolved.
**(b) Termination of Recognition of National Governing Body.—** Effective on the date of enactment of a joint resolution described in section 220551(2)(B) with respect to a national governing body, the recognition of the applicable amateur sports organization as a national governing body shall cease to have force or effect.
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Source file: Laws/federal/codes/united-states-code/title-36/section-220552-dissolution-of-board-of-directors-of-corporation-and-termination-of-reco--cca99ad172.md
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Source location: Title 36, Chapter 2205, § 220552; chapter-2205-united-states-olympic-and-paralympic-committee.md
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**(a) Dissolution of Board of Directors of Corporation.—** Effective on the date of enactment of a joint resolution described in section 220551(2)(A) with respect to the board of directors of the corporation, such board of directors shall be dissolved.
**(b) Termination of Recognition of National Governing Body.—** Effective on the date of enactment of a joint resolution described in section 220551(2)(B) with respect to a national governing body, the recognition of the applicable amateur sports organization as a national governing body shall cease to have force or effect.
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Federal law — U.S. Code and appendices · legal_authorities
In this subchapter, the term “joint resolution” means a joint resolution—
(1) which does not have a preamble; and
(2) for which—
(A)
(i) the title is only as follows: “A joint resolution to dissolve the board of directors of the United States Olympic and Paralympic Committee”; and
(ii) the matter after the resolving clause—
(I) is as follows: “That Congress finds that dissolving the board of directors of the United States Olympic and Paralympic Committee would not unduly interfere with the operations of chapter 2205 of title 36, United States Code”; and
(II) prescribes adequate procedures for forming a board of directors of the corporation as expeditiously as possible and in a manner that safeguards the membership and voting power of the representatives of amateur athletes at all times, consistent with the membership and voting power of amateur athletes under section 220504(b)(2); or
(B)
(i) the title is only as follows: “A joint resolution relating to terminating the recognition of a national governing body”; and
(ii) the matter after the resolving clause is only as follows: “That Congress determines that _________, which is recognized as a national governing body under [section 220521 of title 36](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title36-section220521&num=0&edition=prelim), United States Code, has failed to fulfill its duties, as described in [section 220524 of title 36](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title36-section220524&num=0&edition=prelim), United States Code”, the blank space being filled in with the name of the applicable national governing body.
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Federal law — U.S. Code and appendices · legal_authorities
Page 326
TITLE 36—PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES,
AND ORGANIZATIONS
§ 220551
maintained in accordance with generally ac-
cepted accounting principles;
(B) an assessment of the internal controls
used by the Center that describes the scope
of testing of the internal controls and the re-
sults of such testing; and
(C) a compliance assessment that includes
an opinion or a disclaimer of opinion as to
whether the Center has complied with the
terms and conditions of subsection (b); and
(2) ‘‘independent auditor’’ means an inde-
pendent certified public accountant or inde-
pendent licensed public accountant, certified
or licensed by a regulatory authority of a
State or a political subdivision of a State, who
meets the standards specified in generally ac-
cepted accounting principles.
(Added Pub. L. 115–126, title II, § 202(a), Feb. 14,
2018, 132 Stat. 323; amended Pub. L. 116–189, § 8(c),
Oct. 30, 2020, 134 Stat. 968.)
Editorial Notes
REFERENCES IN TEXT
Section 501(c) of the Internal Revenue Code of 1986,
referred to in subsec. (b)(3)(A)(ii), is classified to sec-
tion 501(c) of Title 26, Internal Revenue Code.
AMENDMENTS
2020—Subsecs. (b) to (d). Pub. L. 116–189 added sub-
secs. (b) to (d) and struck out former subsec. (b). Prior
to amendment, text of subsec. (b) read as follows: ‘‘The
Center shall submit an annual report to Congress, in-
cluding—
‘‘(1) an audit conducted and submitted in accord-
ance with section 10101; and
‘‘(2) a description of the activities of the Center.’’
SUBCHAPTER V—DISSOLUTION OF BOARD
OF DIRECTORS OF CORPORATION AND
TERMINATION OF RECOGNITION OF NA-
TIONAL GOVERNING BODIES
AMENDMENTS
2020—Pub. L. 116–189, § 5(a)(2), Oct. 30, 2020, 134 Stat.
946, added subchapter heading.
§ 220551. Definitions
In this sub
Source: Supplied 2024 U.S. Code historical extraction · 36 U.S.C. § 220552
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