PUBLIC LAW 100-322—MAY 20, 1988
102 STAT. 511
"(b) Each such corporation shall have an executive director who shall be appointed by the board of directors with the concurrence of the Chief Medical Director of the Veterans' Administration. The executive director of a corporation shall be responsible for the operations of the corporation and shall have such specific duties and responsibilities as the board may prescribe. "(c) An individual appointed under subsection (a)(2) of this section to the board of directors of a corporation established under this subchapter may not be affiliated with, employed by, or have any other financial relationship with any entity that is a source of funding for research by the Veterans' Administration unless that source of funding is a governmental entity or an entity the income of which is exempt from tsixation under section 501(c)(3) of the Internal Revenue Code of 1986. "§ 4164. General powers "(a) A corporation established under this subchapter may— "(1) accept gifts and grants from, and enter into contracts with, individuals and public and private entities solely to carry out the purposes of this subchapter; and "(2) employ such employees as it considers necessary for such purposes and fix the compensation of such employees. "(b) A corporation established under this subchapter may not spend funds for a research project unless the project is approved in accordance with procedures prescribed by the Chief Medical Director for research carried out with Veterans' Administration funds. Such procedures shall include a peer review process.
38 USC 4164. Gifts. Grants. Contracts.
"§ 4165. Applicable State law 38 USC 4165. "Any corporation established under this subchapter shall be established in accordance with the nonprofit corporation laws of the State in which the applicable medical center is located and shall, to the extent not inconsistent with any Federal law, be subject to the laws of such State. "§ 4166. Accountability and oversight 38 USC 4166. "(a)(l)(A) The records of a corporation established under this Records. subchapter shall be available to the Administrator. "(B) For the purposes of sections 4(a)(l) and 6(a)(l) of the Inspector General Act of 1978, the programs and operations of such a corporation shall be considered to be programs and operations of the Veterans' Administration with respect to which the Inspector General of the Veterans' Administration has responsibilities under such Act. "(2) Such a corporation shall be considered an agency for the purposes of section 716 of title 31 (relating to availability of information and inspection of records by the Comptroller General). "(b) Each such corporation shall submit to the Administrator an Reports. annual report providing a detailed statement of its operations, activities, and accomplishments during that year. The corporation shall obtain a report of independent auditors concerning the receipts and expenditures of funds by the corporation during that year and shall include that report in the corporation's report to the Administrator for that year. "(c) E^ch member of the board of directors of a corporation established under this subchapter, each employee of such a corpora-
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