SECTION 1. GRANT OF FEDERAL CHARTER TO MILITARY OFFICERS ASSOCIATION OF 
              AMERICA.

    (a) Grant of Charter.--Part B of subtitle II of title 36, United 
States Code, is amended by inserting after chapter 1403 the following 
new chapter:

        ``CHAPTER 1404--MILITARY 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.
``Sec. 140401. Organization
    ``(a) Federal Charter.--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) Expiration of Charter.--If the corporation does not comply 
with the provisions of this chapter, the charter granted by subsection 
(a) shall expire.
``Sec. 140402. Purposes
    ``(a) General.--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.
``Sec. 140403. 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. 140404. 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 and bylaws 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 and bylaws.
``Sec. 140405. 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. 140406. Restrictions
    ``(a) Stock and Dividends.--The corporation may not issue stock or 
declare or pay a dividend.
    ``(b) Distribution of Income or Assets.--The 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) Loans.--The corporation may not make a loan to a director, 
officer, employee, or member of the corporation.
    ``(d) Claim of Governmental Approval or Authority.--The corporation 
may not claim congressional approval or the authority of the United 
States Government for any of its activities.
    ``(e) Corporate Status.--The corporation shall maintain its status 
as a corporation incorporated under the laws of the Commonwealth of 
Virginia.
``Sec. 140407. 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. 140408. 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. 140409. Service of process
    ``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.
``Sec. 140410. 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. 140411. 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. 140412. Definition
    ``In this chapter, the term `State' includes the District of 
Columbia and the territories and possessions of the United States.''.
    (b) Clerical Amendment.--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''.
Grants a federal charter to the Military Officers Association of America (a nonprofit corporation and incorporated under the laws of the Commonwealth of Virginia).
To amend title 36, United States Code, to grant a Federal charter to the Military Officers Association of America, and for other purposes.