PUBLIC LAW 105-225—AUG. 12, 1998 112 STAT. 1471 §220511. Annual report (a) SUBMISSION TO PRESIDENT AND CONGRESS.— Not later than June 1 of each year, the corporation shall submit simultaneously to the President and to each House of Congress a detailed report of its operations during the prior calendar year, including— (1) a complete statement of the corporation's receipts and expenditures; and (2) a comprehensive description of the activities and accomplishments of the corporation during the prior year. (b) AVAILABILITY TO PUBLIC. —The corporation shall make copies of the report available to interested persons at a reasonable cost. SUBCHAPTER II—NATIONAL GOVERNING BODIES §220521. Recognition of amateur sports organizations as national governing bodies (a) GENERAL AUTHORITY.—For any sport that is included on the program of the Olympic Games or the Pan-American Games, the corporation may recognize as a national governing body an amateur sports organization that files an application and is eligible under section 220522 of this title. The corporation may recognize only one national governing body for each sport for which an application is made and approved. (b) PUBLIC HEARING.— Before recognizing an organization as a national governing body, the corporation shall hold a public hearing on the application. The corporation shall publish notice of the time, place, and nature of the hearing. Publication shall be made in a regular issue of the corporation's principal publication at least 30 days, but not more than 60 days, before the date of the hearing. (c) RECOMMENDATION TO INTERNATIONAL SPORTS FEDERA- TION.— Within 61 days after recognizing an organization as a national governing body, the corporation shall recommend and support in any appropriate manner the national governing body to the appropriate international sports federation as the representative of the United States for that sport. (d) REVIEW OF RECOGNITION. — The corporation may review all matters related to the continued recognition of an organization as a national governing body and may take action it considers appropriate, including placing conditions on the continued recognition. § 220522. Eligibility requirements An amateur sports organization is eligible to be recognized, or to continue to be recognized, as a national governing body only ifit— (1) is incorporated under the laws of a State of the United States or the District of Columbia as a not-for-profit corporation having as its purpose the advancement of amateur athletic competition; (2) has the managerial and financial capability to plan and execute its obligations; (3) submits— (A) an application, in the form required by the corporation, for recognition as a national governing body; (B) a copy of its corporate charter and bylaws; and (C) any additional information considered necessary or appropriate by the corporation;
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