PUBLIC LAW 105-225 —AUG. 12, 1998 112 STAT. 1287 (2) fill vacancies; (3) provide for the election of foreign, domestic, or honorary associate members, and the division of those members into classes; (4) receive bequests and donations of property, hold the property in trust, and invest the property to carry out the purpose of the corporation; and (5) do any other act necessary or usual for such a corporation. §20305. Annual meeting The corporation shall hold an annual meeting at a place in the United States as may be designated. §20306. Annual report The corporation shall make an annual report to Congress, to be filed with the Librarian of Congress. § 20307. Nonapplication of audit requirements The audit requirements of section 10101 of this title do not apply to the corporation. CHAPTER 205—AMERICAN CHEMICAL SOCIETY Sec. 20501. Organization. 20502. Purposes. 20503. Powers. 20504. Cooperation with the military. 20505. Annual meeting. 20506. Annual report. §20501. Organization American Chemical Society (in this chapter, the "corporation") is a federally chartered corporation. §20502. Purposes The purposes of the corporation are— (1) to encourage in the broadest and most liberal manner the advancement of chemistry in all its branches; (2) to promote research in chemical science and industry; (3) to improve the qualifications and usefulness of chemists through high standards of professional ethics, education, and attainments; (4) to increase and diffuse chemical knowledge; and (5) by its meetings, professional contacts, reports, papers, discussions, and publications, to promote scientific interests and inquiry to foster public welfare and education, aid the development of our country's industries, and add to the material prosperity and happiness of our people. §20503. Powers The corporation may— (1) adopt a constitution, bylaws, and regulations; (2) fill vacancies; (3) provide for the election of members and the division of those members into classes; (4) receive property, hold the property absolutely or in trust, invest and manage the property, and use the property
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