I 

116TH CONGRESS 

1ST SESSION H. R. 2857 

To grant a Federal charter to the National Academy of Inventors. 

IN THE HOUSE OF REPRESENTATIVES 

MAY 21, 2019 

Mr. LIPINSKI (for himself, Mr. BILIRAKIS, Mr. WEBSTER of Florida, and Ms. 

CASTOR of Florida) introduced the following bill; which was referred to 

the Committee on the Judiciary 

A BILL 

To grant a Federal charter to the National Academy of 

Inventors. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. GRANT OF FEDERAL CHARTER TO THE NA4 TIONAL ACADEMY OF INVENTORS. 

5 (a) GRANT OF CHARTER.—Part B of subtitle II of 

6 title 36, United States Code, is amended by inserting after 

7 chapter 1503 the following new chapter: 


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1 ‘‘CHAPTER 1504—NATIONAL ACADEMY OF 

2 INVENTORS 

3 ‘‘§ 150401. Findings 

4 ‘‘Congress finds the following: 

5 ‘‘(1) The majority of the Nation’s basic re6 search is done at colleges and universities. 

7 ‘‘(2) The National Academy of Inventors recog8 nizes and encourages inventors who have a patent 

9 issued from the United States Patent and Trade10 mark Office. 

11 ‘‘(3) The National Academy of Inventors en12 hances the visibility of university and nonprofit re13 search institute technology and academic innovation. 

14 ‘‘(4) The National Academy of Inventors en15 courages the disclosure of intellectual property. 

16 ‘‘(5) The National Academy of Inventors edu17 cates and mentors innovative students. 

18 ‘‘(6) The systematic application of organized 

19 knowledge and information can generate technology 

20 and produce creative solutions to existing problems. 

21 ‘‘(7) Innovation, based on new inventions and 

22 technologies, has proven to be a key factor in the in23 dustrial and economic development of the world. 

24 ‘‘(8) The National Academy of Inventors serves 

25 a valuable role in the translation of science and techVerDate Sep 11 2014 03:01 Jun 05, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H2857.IH H2857

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1 nology within the research communities at univer2 sities, nonprofit institutes, and Federal agencies, 

3 and for the benefit of society. 

4 ‘‘(9) Congress supports the mission of the Na5 tional Academy of Inventors to encourage the trans6 lation of the inventions of its members to benefit so7 ciety. 

8 ‘‘§ 150402. Organization 

9 ‘‘(a) FEDERAL CHARTER.—The National Academy of 

10 Inventors, a not-for-profit organization that meets the re11 quirements under section 501(c)(3) of the Internal Rev12 enue Code, and is organized under the laws of the State 

13 of Florida, is a federally chartered organization. 

14 ‘‘(b) EXPIRATION OF CHARTER.—If the organization 

15 does not comply with the provisions of this chapter, the 

16 charter granted shall expire. 

17 ‘‘§ 150403. Purposes 

18 ‘‘The purposes of the organization are as provided in 

19 its bylaws and articles of incorporation. 

20 ‘‘§ 150404. Governing body 

21 ‘‘(a) BOARD OF DIRECTORS.—The composition of the 

22 board of directors for the organization, and the respon23 sibilities of the board are as provided in the articles of 

24 incorporation and bylaws of the organization. 


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1 ‘‘(b) OFFICERS.—The positions of officers/executive 

2 committee members of the organization, and the election 

3 of the officers and executive committee members, are as 

4 provided in the articles of incorporation and bylaws. 

5 ‘‘(c) EXECUTIVE COMMITTEE.—The positions of ex6 ecutive committee members of the organization, and the 

7 election of executive committee members, are as provided 

8 in the articles of incorporation and bylaws. 

9 ‘‘(d) EXECUTIVE ADVISORY BOARD.—The composi10 tion of the executive advisory board for the organization, 

11 and the responsibilities of the executive advisory board are 

12 as provided in the articles of incorporation and bylaws of 

13 the organization. 

14 ‘‘§ 150405. Powers 

15 ‘‘The corporation has only those powers provided in 

16 its bylaws and articles of incorporation filed in each State 

17 in which it is incorporated. 

18 ‘‘§ 150406. Restrictions 

19 ‘‘(a) STOCK AND DIVIDENDS.—The corporation may 

20 not issue stock or declare or pay a dividend. 

21 ‘‘(b) DISTRIBUTION OF INCOME OR ASSETS.—No 

22 part of the income or assets of this Corporation will be 

23 distributed, to its Directors or Officers. However, the cor24 poration may contract in due course of business with its 

25 Officers or Directors for services rendered to the extent 


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1 permissible under the articles of incorporation, under law 

2 and under section 501(c)(3) of the United States Internal 

3 Revenue Code of 1986. 

4 ‘‘(c) LOANS.—The organization may not loan money 

5 to any of its directors or officers. 

6 ‘‘(d) CORPORATE STATUS.—The organization shall 

7 maintain its status as a corporation incorporated under 

8 the laws of the State of Florida. 

9 ‘‘§ 150407. Tax-exempt status required as a condition 

10 of charter 

11 ‘‘If the corporation fails to maintain its status as an 

12 organization exempt from taxation under the Internal 

13 Revenue Code of 1986, the charter granted under this 

14 chapter shall terminate. 

15 ‘‘§ 150408. Records 

16 ‘‘The organization shall keep— 

17 ‘‘(1) correct and complete records of account; 

18 ‘‘(2) minutes of the proceedings of the mem19 bers, board of directors, and committees of the cor20 poration having any of the authority of the board of 

21 directors of the corporation; and 

22 ‘‘(3) at the principal office of the corporation, 

23 a record of the names and addresses of the members 

24 of the corporation entitled to vote on matters relat25 ing to the corporation. 


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1 ‘‘§ 150409. Liability for acts of officers and agents 

2 ‘‘The organization is liable for any act of any officer 

3 or agent of the corporation acting within the scope of the 

4 authority of the corporation. 

5 ‘‘§ 150410. Annual report 

6 ‘‘The corporation shall transmit to Congress an an7 nual report on the activities of the corporation during the 

8 preceding fiscal year. The report shall be submitted at the 

9 same time as the report of the audit required. The report 

10 may not be printed as a public document.’’. 

11 (b) CLERICAL AMENDMENT.—The table of chapters 

12 at the beginning of subtitle II of title 36, United States 

13 Code, is amended by inserting after the item relating to 

14 chapter 1503 the following new item: 

‘‘1504. NATIONAL ACADEMY OF INVENTORS..............................150401’’. 

Æ 


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