[Congressional Record (Bound Edition), Volume 153 (2007), Part 17]
[Senate]
[Pages 24306-24307]
[From the U.S. Government Publishing Office, www.gpo.gov]




    FEDERAL CHARTER TO KOREAN WAR VETERANS ASSOCIATION, INCORPORATED

  Mr. REID. I ask unanimous consent the Senate proceed to the 
consideration of Calendar No. 347, S. 1692.
  The PRESIDING OFFICER. The clerk will report the bill by title.
  The legislative clerk read as follows:

       A bill (S. 1692) to grant a Federal charter to Korean War 
     Veterans Association, Incorporated.

  There being no objection, the Senate proceeded to consider the bill.
  Mr. REID. I ask unanimous consent the bill be read 3 times, passed, 
the motion to reconsider be laid on the table, and any statements be 
printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The bill (S. 1692) was ordered to be engrossed for a third reading, 
was read the third time, and passed, as follows:

                                S. 1692

       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

[[Page 24307]]

     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:

120101''.ean War Veterans Association, Incorporated...............

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