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
America 140401
.
Speaker of the House of Representatives
Vice President of the United States and President of the
Senate