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) shall
expire.
120102.The purposes of the corporation are those
provided in the articles of incorporation of the corporation and shall include
the following:
(1)To 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 the United States during the time of war and
peace.
(4)To honor the memory of the men and women
who gave their lives so that the United States and the world might be free and
live by the creation of living memorial, monuments, and other forms of
additional educational, cultural, and recreational facilities.
(5)To preserve for the people of the United
States and posterity of such people the great and basic truths and enduring
principles upon which the United States 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 activity of the corporation.
(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 the members,
board of directors, and committees of the corporation having any of the
authority of the board of directors of the corporation; and
(3)at the principal office of the corporation,
a record of the names and addresses of the members of the corporation entitled
to vote on matters relating to the corporation.
(b)A member entitled to vote on any matter
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 any act of any officer or agent of the corporation acting within the
scope of the authority of the corporation.
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(b) 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
.
Speaker of the House of Representatives
Vice President of the United States and President of the
Senate