[Code of Federal Regulations]
[Title 36, Volume 3]
[Revised as of July 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 36CFR905.735-401]

[Page 170]
 
              TITLE 36--PARKS, FORESTS, AND PUBLIC PROPERTY
 
         CHAPTER IX--PENNSYLVANIA AVENUE DEVELOPMENT CORPORATION
 
PART 905--STANDARDS OF CONDUCT--Table of Contents
 
    Subpart D--Special Standards Applicable to Certain Board Members
 
Sec. 905.735-401  Standards.


    Section 3(c)(8) of the Pennsylvania Avenue Development Corporation 
Act of 1972, Pub. L. 92-578, 86 Stat. 1267 (40 U.S.C. 872(c)(8)) 
specifies that the eight members appointed to the Board by the President 
from private life, at least four of whom shall be residents of the 
District of Columbia, ``shall have knowledge and experience in one or 
more fields of history, architecture, city planning, retailing, real 
estate, construction or government.'' As a result of these prerequisites 
for appointment of a private member to the Board of Directors, conflicts 
could arise for these Board Members as the Corporation proceeds with 
various development activities. Accordingly, Board Members should 
perform their responsibilities for the operation and management of the 
Corporation consistent with these regulations, and other applicable 
Federal laws and regulations, and consistent with the highest level of 
fiduciary responsibility.