It shall be the policy of the Regents to maintain a worthy standard for the acceptance
of art objects for exhibition in the Gallery, and to foster by public exhibitions
from time to time in Washington, and other parts of the United States a growing appreciation
of art, both of past and contemporary time; and the Regents are authorized to solicit
and receive private donations of works of art and contributions of funds from private
sources for the purchase of works of art. Funds so received shall be placed in a special deposit account with the Treasurer
of the United States and may be expended by the Regents for the purchase of works
(b)Solicitation of funds to acquire and sell works of art, employ artists, award scholarships,
In order to encourage the development of contemporary art and to effect the widest
distribution and cultivation in matters of such art, the Regents are authorized to
solicit and receive funds from private sources, to acquire (by purchase or otherwise)
and sell contemporary works of art or copies thereof, to employ artists and other
personnel, award scholarships, conduct exhibitions, and generally to do such things
and have such other powers as will effectuate the purposes of this subsection. Funds received by the Regents under this subsection shall be placed in a special
deposit account with the Treasurer of the United States and may be expended by the
Regents for the purposes enumerated in this subsection and for no other purposes:
Provided, That the Regents shall not incur any obligations under this subsection in excess
of the funds available therefor.
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