http://www.usolympicteam.com/19116_18922.htmQ: What is the role of a National Olympic Committee (NOC) and how many are currently recognized by the IOC?
A: Each "nation" has but one NOC. Although most the NOCs that are recognized are from nations, the IOC also recognizes independent territories, commonwealths (such as Puerto Rico), mandated territories, protectorates and geographical areas. As of February 2000, the IOC recognized 200 National Olympic Committees. Each NOC has the responsibility for governing Olympic affairs within its nation, including identifying, training, selecting, entering and
funding an Olympic Team from that nation to compete in the Olympic Games.