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Secretary accessions (by gift or purchase) for the collections of the National Portrait Gallery. A report of such actions will be presented to the Commission at its next formally constituted meeting. In making such recommendations, the concurrence of three members is required.

d. Individual purchases of portraits for subjects previously approved by the Commission for $10,000 or less, amounting in any fiscal year to no more than 20% of the annual National Portrait Gallery purchase fund, may be made by the Director at his discretion, and will be reported to the Commission at its next meeting. Gifts judged to be valued at $10,000 or less also may be accepted by the Director at his discretion and will be reported to the Commission at its next meeting.

e. In accordance with policies adopted by the Board of Regents:

(1) The Gallery shall acquire for the permanent collection the best likenesses available, originals from life if possible, replicas or copies if necessary.

(2) No likeness of any person who has been dead less than ten years shall be made part of the permanent collection with the exception of the President of the United States and his wife or her husband.

(3) Temporary exhibitions dealing with specific fields of interest may be held from time to time. Provision may be made for the display of portraits which may be acquired by the Gallery during the lifetimes of their subjects.

(4) The Director, on the recommendation of the Commission, has the authority to deaccession from the National Portrait Gallery works of art valued at less than $1,000.

(5) No object of art in the permanent collection of the National Portrait Gallery valued at more than $1,000 shall be exchanged or sold without prior approval of the museum director, the museum's Commission, the Smithsonian's Office of General Counsel, and of the Secretary.

(6) No object of art in the permanent collection of the National Portrait Gallery valued at more than $50,000 shall be exchanged or sold without prior approval of the museum director, the museum's Commission, the Smithsonian's Office of General Counsel, the Secretary, and the Board of Regents.

(7) The exchange or sale of any object of art in the National Portrait Gallery shall be reported to the Board of Regents by the Secretary and the proceeds from any such sale shall be used solely for the acquisition of works of art.

Section 4. Other Committees consisting of a member of the Commission as Chairman, and any desired number of associates, not necessarily members of the Commission, may be appointed by the Commission on any subject coming within the purview of the Commission.