1.Grant of Federal charter to
Military Officers Association of America
(a)Part B of subtitle II of title 36, United States Code, is
amended by inserting after chapter 1403 the following new chapter:
1404Military
Officers Association of America
Sec.
140401. Organization.
140402. Purposes.
140403. Membership.
140404. Governing body.
140405. Powers.
140406. Restrictions.
140407. Tax-exempt status required as condition of
charter.
140408. Records and inspection.
140409. Service of process.
140410. Liability for acts of officers and agents.
140411. Annual report.
140412. Definition.
140401.
(a)Military Officers Association of America (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 is organized under the laws of the
Commonwealth of Virginia, 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.
140402.
(a)The purposes of the corporation are as
provided in its bylaws and articles of incorporation and include—
(1)to inculcate and stimulate love of the
United States and the flag;
(2)to defend the honor, integrity, and
supremacy of the Constitution of the United States and the United States
Government;
(3)to advocate military forces adequate to the
defense of the United States;
(4)to foster the integrity and prestige of the
Armed Forces;
(5)to foster fraternal relations between all
branches of the various Armed Forces from which members are drawn;
(6)to further the education of children of
members of the Armed Forces;
(7)to aid members of the Armed Forces and
their family members and survivors in every proper and legitimate
manner;
(8)to present and support legislative
proposals that provide for the fair and equitable treatment of members of the
Armed Forces, including the National Guard and Reserves, military retirees,
family members, survivors, and veterans; and
(9)to encourage recruitment and appointment in
the Armed Forces.
140403.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.
140404.
(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 and bylaws 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 and bylaws.
140405.The corporation has only those powers
provided in its bylaws and articles of incorporation filed in each State in
which it is incorporated.
140406.
(a)The corporation may not issue stock or declare or pay a
dividend.
(b)Distribution of
income or assetsThe income or assets of the corporation may not
inure to the benefit of, or be distributed to, a director, officer, or member
of the corporation during the life of the charter granted by this chapter. This
subsection does not prevent the payment of reasonable compensation to an
officer or employee of the corporation or reimbursement for actual necessary
expenses in amounts approved by the board of directors.
(c)The
corporation may not make a loan to a director, officer, employee, or member of
the corporation.
(d)Claim of
governmental approval or authorityThe corporation may not claim
congressional approval or the authority of the United States Government for any
of its activities.
(e)The corporation shall maintain its status as a corporation
incorporated under the laws of the Commonwealth of Virginia.
140407.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.
140408.
(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.
140409.The corporation shall
comply with the law on service of process of each State in which it is
incorporated and each State in which it carries on activities.
140410.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.
140411.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.
140412.In this chapter, the term State
includes the District of Columbia and the territories and possessions of the
United
States.
.
(b)The table of
chapters at the beginning of subtitle II of title 36, United States Code, is
amended by inserting after the item relating to chapter 1403 the following new
item:
1404.
Military Officers Association of
America140401
.