[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 1692 Engrossed in Senate (ES)]

  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
110th CONGRESS
  1st Session
                                S. 1692

_______________________________________________________________________

                                 AN ACT


 
    To grant a Federal charter to Korean War Veterans Association, 
                             Incorporated.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. GRANT OF FEDERAL CHARTER TO KOREAN WAR VETERANS ASSOCIATION, 
              INCORPORATED.

    (a) Grant of Charter.--Part B of subtitle II of title 36, United 
States Code, is amended--
            (1) by striking the following:

                     ``CHAPTER 1201--[RESERVED]'';

            and
            (2) by inserting after chapter 1103 the following new 
        chapter:

     ``CHAPTER 1201--KOREAN 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.
``Sec. 120101. Organization
    ``(a) Federal Charter.--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) Expiration of Charter.--If the corporation does not comply 
with the provisions of this chapter, the charter granted by subsection 
(a) shall expire.
``Sec. 120102. Purposes
    ``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.
``Sec. 120103. Membership
    ``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.
``Sec. 120104. Governing body
    ``(a) Board of Directors.--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) Officers.--The positions of officers of the corporation, and 
the election of the officers, are as provided in the articles of 
incorporation.
``Sec. 120105. Powers
    ``The corporation has only those powers provided in its bylaws and 
articles of incorporation filed in each State in which it is 
incorporated.
``Sec. 120106. Restrictions
    ``(a) Stock and Dividends.--The corporation may not issue stock or 
declare or pay a dividend.
    ``(b) Political Activities.--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) Loan.--The corporation may not make a loan to a director, 
officer, or employee of the corporation.
    ``(d) Claim of Governmental Approval or Authority.--The corporation 
may not claim congressional approval, or the authority of the United 
States, for any activity of the corporation.
    ``(e) Corporate Status.--The corporation shall maintain its status 
as a corporation incorporated under the laws of the State of New York.
``Sec. 120107. Tax-exempt status required as condition of charter
    ``If 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.
``Sec. 120108. Records and inspection
    ``(a) Records.--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) Inspection.--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.
``Sec. 120109. Service of process
    ``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.
``Sec. 120110. Liability for acts of officers and agents
    ``The corporation is liable for any act of any officer or agent of 
the corporation acting within the scope of the authority of the 
corporation.
``Sec. 120111. Annual report
    ``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.
``Sec. 120112. Definition
    ``For purposes of this chapter, the term `State' includes the 
District of Columbia and the territories and possessions of the United 
States.''.
    (b) Clerical Amendment.--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, Incorporated......    120101''.
 

            Passed the Senate September 12, 2007.

            Attest:

                                                             Secretary.
110th CONGRESS

  1st Session

                                S. 1692

_______________________________________________________________________

                                 AN ACT

    To grant a Federal charter to Korean War Veterans Association, 
                             Incorporated.