To recognize the organization known as the Ukrainian American Veterans, Incorporated.

Summary: Grants a Federal charter to the Ukrainian American Veterans, Incorporated.

SECTION 1. CHARTER.

    The Ukrainian American Veterans, Incorporated, organized and 
incorporated under the laws of the State of New York, is hereby 
recognized and granted a Federal charter.

SEC. 2. POWERS.

    The corporation shall have only the powers granted to it through 
its bylaws and articles of incorporation filed in the States in which 
it is incorporated and subject to the laws of such States.

SEC. 3. PURPOSES.

    The purposes of the corporation are those provided in its articles 
of incorporation and include a commitment, on a national basis, to--
            (1) preserve, protect and defend the Constitution of the 
        United States;
            (2) commemorate the wars, campaigns, and military actions 
        of the United States in order to reflect respect, honor, and 
        tribute for the dead and the surviving veterans;
            (3) give individuals throughout the Nation a greater 
        understanding of and appreciation for the sacrifices of the 
        people who participated in any military action on behalf of 
        individuals throughout the United States;
            (4) stimulate, to the highest degree possible, the interest 
        of the entire Nation in the problems of veterans, their widows, 
        and orphans;
            (5) collect, edit, publish, and preserve records and 
        mementos of patriotic service of veterans of the Armed Forces 
        of the United States;
            (6) foster the association of veterans of Ukrainian descent 
        who have served in the Armed Forces of the United States; and

SEC. 8. RESTRICTIONS.

    (a) Use of Income and Assets.--No part of the income or assets of 
the corporation may inure to any member, officer, or director of the 
corporation or be distributed to any such person during the life of 
this charter. No provision in this subsection may be construed to 
prevent the payment of reasonable compensation to the officers and 
employees of the corporation or reimbursement for actual necessary 
expenses in amounts approved by the board of directors.
    (b) Loans.--The corporation may not make any loan to any member, 
officer, director, or employee of the corporation.
    (c) Political Activity.--The corporation, any officer, or director 
of the corporation, acting as such officer or director, may not 
contribute to, support, or otherwise participate in any political 
activity or in any manner attempt to influence legislation.
    (d) Issuance of Stock and Payment of Dividends.--The corporation 
may not issue any shares of stock or declare or pay any dividends.
    (e) Claims of Federal Approval.--The corporation may not claim the 
approval of the Congress or the authorization of the Federal Government 
for any of its activities.
    (f) Corporate Status.--The corporation shall maintain its status as 
a corporation organized and incorporated under the laws of the State of 
New York.
    (g) Corporate Function.--The corporation shall function as an 
educational, patriotic, civic, and historical organization under the 
laws of the States in which it is incorporated.

SEC. 9. LIABILITY.

    The corporation shall be liable for the acts of its officers, 
directors, employees, and agents whenever the officers, directors, 
employees, and agents act within the scope of their authority.

SEC. 10. MAINTENANCE AND INSPECTION OF BOOKS AND RECORDS.

    (a) Books and Records of Account.--The corporation shall keep 
correct and complete books and records of account and shall keep 
minutes of any proceeding of the corporation involving any of its 
members, the board of directors, or any committee having authority 
under the board of directors.
    (b) Names and Addresses of Members.--The corporation shall keep, at 
its principal office, a record of the names of all members having the 
right to vote in any proceeding of the corporation.
    (c) Right To Inspect Books and Records.--All books and records of 
the corporation may be inspected by any member having the right to 
vote, or by any agent or attorney of such member, for any proper 
purpose, at any reasonable time.
    (d) Application of State Law.--No provision of this section may be 
construed to contravene any applicable State law.

SEC. 11. AUDIT OF FINANCIAL TRANSACTIONS.

    The first section of the Act entitled ``An Act to provide for audit 
of accounts of private corporations established under the Federal 
law'', approved August 30, 1964 (36 U.S.C. 1101), is amended by adding 
at the end of the following:
            ``Ukrainian American Veterans, Incorporated.''.

SEC. 12. ANNUAL REPORT.

    The corporation shall annually submit to the Congress a report 
concerning the activities of the corporation during the preceding 
fiscal year. The annual report shall be submitted at the same time as 
is the report of the audit required by section 11. The report shall not 
be printed as a public document.

SEC. 13. RESERVATION OF RIGHT TO AMEND OR REPEAL CHAPTER.

    The right to amend or repeal this Act is expressly reserved to the 
Congress.

SEC. 14. DEFINITIONS.

    For purposes of this Act--
            (1) the term ``corporation'' means the Ukrainian American 
        Veterans, Incorporated; and
            (2) the term ``State'' means any of the several States, the 
        District of Columbia, the Commonwealth of Puerto Rico, the 
        Commonwealth of the Northern Mariana Islands, the Virgin 
        Islands, Guam, American Samoa, the Trust Territories of the 
        Pacific Islands, or any other territory or possessions of the 
        United States.

SEC. 15. TAX EXEMPT STATUS.

    The corporation shall maintain its status as an organization exempt 
from taxation as provided in the Internal Revenue Code of 1986.

SEC. 16. TERMINATION.

    The charter granted in this Act shall expire if the corporation 
fails to comply with any provisions of this Act.