109 HR 3476 IH: To grant a Federal charter to Korean War Veterans Association, Incorporated.
U.S. House of Representatives
2005-07-27
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EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
1.Grant of Federal charter to Korean War veterans association, incorporated
(a)Part B of subtitle II of title 36, United States Code, is amended—
(1)by striking the following:
1201;and
(2)by inserting after chapter 1103 the following new chapter:
1201Korean War veterans association, incorporated
Sec
120101. Organization
120102. Purposes
120103. Membership
120104. Governing body
120105. Powers
120106. Restrictions
120107. Tax-exempt status required as condition of charter
120108. Records and inspection
120109. Service of process
120110. Liability for acts of officers and agents
120111. Annual report
120112. Definition
120101.
(a)Korean War Veterans Association, Incorporated (in this chapter, the corporation
), a nonprofit organization that meets the requirements for a veterans service organization under section 501(c)(19) of the Internal Revenue Code of 1986 and that is organized under the laws of the State of New York, is a federally chartered corporation.
(b)If the corporation does not comply with the provisions of this chapter, the charter granted by subsection (a) expires.
120102.The purposes of the corporation are those provided in its articles of incorporation and shall include the following:
(1)Organize as a veterans service organization in order to maintain a continuing interest in the welfare of veterans of the Korean War, and rehabilitation of the disabled veterans of the Korean War to include all that served during active hostilities and subsequently in defense of the Republic of Korea, and their families.
(2)To establish facilities for the assistance of all veterans and to represent them in their claims before the Department of Veterans Affairs and other organizations without charge.
(3)To perpetuate and preserve the comradeship and friendships born on the field of battle and nurtured by the common experience of service to our nation during the time of war and peace.
(4)To honor the memory of those men and women who gave their lives that a free America and a free world might live by the creation of living memorial, monuments, and other forms of additional educational, cultural, and recreational facilities.
(5)To preserve for ourselves and our posterity the great and basic truths and enduring principles upon which this nation was founded.
120103.Eligibility for membership in the corporation, and the rights and privileges of members of the corporation, are as provided in the bylaws of the corporation.
120104.
(a)The composition of the board of directors of the corporation, and the responsibilities of the board, are as provided in the articles of incorporation of the corporation.
(b)The positions of officers of the corporation, and the election of the officers, are as provided in the articles of incorporation.
120105.The corporation has only those powers provided in its bylaws and articles of incorporation filed in each State in which it is incorporated.
120106.
(a)The corporation may not issue stock or declare or pay a dividend.
(b)The corporation, or a director or officer of the corporation as such, may not contribute to, support, or participate in any political activity or in any manner attempt to influence legislation.
(c)The corporation may not make a loan to a director, officer, or employee of the corporation.
(d)Claim of governmental approval or authorityThe corporation may not claim congressional approval, or the authority of the United States, for any of its activities.
(e)The corporation shall maintain its status as a corporation incorporated under the laws of the State of New York.
120107.Tax-exempt status required as condition of charterIf the corporation fails to maintain its status as an organization exempt from taxation under the Internal Revenue Code of 1986, the charter granted under this chapter shall terminate.
120108.
(a)The corporation shall keep—
(1)correct and complete records of account;
(2)minutes of the proceedings of its members, board of directors, and committees having any of the authority of its board of directors; and
(3)at its principal office, a record of the names and addresses of its members entitled to vote on matters relating to the corporation.
(b)A member entitled to vote on matters relating to the corporation, or an agent or attorney of the member, may inspect the records of the corporation for any proper purpose, at any reasonable time.
120109.The corporation shall have a designated agent in the District of Columbia to receive service of process for the corporation. Notice to or service on the agent is notice to or service on the Corporation.
120110.Liability for acts of officers and agentsThe corporation is liable for the acts of its officers and agents acting within the scope of their authority.
120111.The corporation shall submit to Congress an annual report on the activities of the corporation during the preceding fiscal year. The report shall be submitted at the same time as the report of the audit required by section 10101 of this title. The report may not be printed as a public document.
120112.For purposes of this chapter, the term State
includes the District of Columbia and the territories and possessions of the United States..
(b)The item relating to chapter 1201 in the table of chapters at the beginning of subtitle II of title 36, United States Code, is amended to read as follows:
“1201. Korean War Veterans Association, Incorporated120101”.