To grant a federal charter to the Association of American State Geologists.

SECTION 1. RECOGNITION AND GRANT OF FEDERAL CHARTER.

    The Association of American State Geologists, a nonprofit 
corporation organized under the laws of the State of Delaware, is 
recognized and granted a Federal charter.

SEC. 2. POWERS.

    The Association of American State Geologists (in this Act referred 
to as the ``association'') shall have only those powers granted to it 
through its constitution, bylaws and article of incorporation filed in 
the State of Delaware and subject to the laws of the State of Delaware.

SEC. 3. PURPOSES.

    The purposes of the association are those provided in its 
constitution, bylaws and article of incorporation and shall include the 
following:
            (1) To promote, advance and protect the common good, 
        welfare and security of the Nation through the application of 
        geology and related earth sciences to--
                    (A) foster wise and responsible stewardship of the 
                Nation's natural resources;
                    (B) foster the creation of national wealth, general 
                prosperity and a high quality of life in the United 
                States;
                    (C) foster appropriate and sustainable economic 
                development;
                    (D) foster prudent exploration, development, 
                utilization, management and conservation of the 
                Nation's land, seas and seabeds including energy, 
                mineral, water, environmental and ecological resources;
                    (E) avoid, reduce and mitigate hazards related to 
                geology, earthquakes, volcanoes, landslides and other 
                natural hazards through public awareness and 
                coordination with appropriate local, State, regional 
                and Federal agencies; and
                    (F) educate the general public concerning the 
                critical importance of geology to society, 
                civilization, culture, economy and national security.
            (2) To advance the science and practical application of 
        geology and related earth sciences in the United States and its 
        possessions.
            (3) To improve the effectiveness of State geological 
        surveys through the interchange of ideas pertaining to their 
        administrative organization, programs, and applications to 
        economic changes and other geologically related issues.
            (4) To improve methods of assembling and disseminating data 
        and information to mining, energy, agriculture, utility, 
        construction, insurance and banking industries; educational 
        institutions; civic and professional organizations; 
        legislators; governmental agencies; and the public.
            (5) To effectively coordinate activities with Federal and 
        State agencies working in related fields.

SEC. 4. SERVICE OF PROCESS.

    With respect to service of process, the association shall comply 
with the law of the State of Delaware and those States in which it 
carries on its activities in furtherance of the purposes of the 
association.

SEC. 5. MEMBERSHIP.

    Except as provided in section (8)(g), eligibility for membership in 
the association and the rights and privileges of members shall be as 
provided in the constitution, bylaws and articles of incorporation of 
the association.

SEC. 6. BOARD OF DIRECTORS.

    Except as provided in section 8(g), the composition of the board of 
directors of the association and the responsibilities of the board 
shall be as provided in the constitution, bylaws and articles of 
incorporation of the association.

SEC. 7. OFFICERS.

    Except as provided in section 8(g), the positions of officers of 
the association and the election of members to such positions shall be 
as provided in the constitution, bylaws and articles of incorporation 
of the association.

SEC. 8. RESTRICTIONS.

    (a) Income and Compensation.--No part of the income or assets of 
the association may insure to the benefit of any member, officer, or 
director of the association or be distributed to any such individual 
during the life of this charter. Nothing in this subsection may be 
construed to prevent the payment of reasonable compensation to the 
officers and employees of the association or reimbursement for actual 
and necessary expenses in amounts approved by the board of directors.
    (b) Loans.--The association may not make any loan to any member, 
officer, director or employee of the association.
    (c) Issuance of Stock and Payment of Dividends.--The association 
may not issue any shares of stock or declare or pay any dividends.
    (d) Disclaimer of Congressional or Federal Approval.--The 
association may not claim the approval of Congress or the authorization 
of the Federal Government for any of its activities by virtue of this 
Act.
    (e) Association Status.--The association shall maintain its status 
as an entity organized and incorporated under the laws of the State of 
Delaware.
    (f) Association Function.--The association shall function as an 
educational, patriotic, civic, historical and research organization 
under the laws of the State of Delaware.
    (g) Nondiscrimination.--In establishing the conditions of 
membership in the association and in determining the requirements for 
serving on the board of directors or as an officer of the association, 
the association may not discriminate on the basis of race, color, 
religion, sex, disability, age or national origin.

SEC. 9. LIABILITY.

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

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

    (a) Books and Records of Account.--The association shall keep 
correct and complete books and records of account and minutes of any 
proceeding of the association 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 association shall keep at 
its principal office a record of the names and addresses of all members 
having the right to vote in any proceeding of the association.
    (c) Right To Inspect Books and Records.--All books and records of 
the association may be inspected by any member having the right to vote 
in any proceeding of the association, or by any agent or attorney of 
such member, for any proper purpose at any reasonable time.
    (d) Application of State Law.--This section may not 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 Federal law'', 
approved August 30, 1964 (36 U.S.C. 1101), is amended by adding at the 
end the following:
            ``(80) Association of American State Geologists.''.

SEC. 12. ANNUAL REPORT.

    The association shall annually submit to Congress a report 
concerning the activities of the association during the preceding 
fiscal year. The annual report shall be submitted on the same date as 
the report of the audit required by reason of the amendment made in 
section 11. The annual report shall not be printed as a public 
document.

SEC. 13. RESERVATION OF RIGHT TO ALTER, AMEND, OR REPEAL CHARTER.

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

SEC. 14. TAX-EXEMPT STATUS REQUIRED AS CONDITION OF CHARTER.

    If the association fails to maintain its status as an entity exempt 
from taxation as provided in the Internal Revenue Code of 1986 the 
charter granted in this Act shall terminate.

SEC. 15. TERMINATION.

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

SEC. 16. DEFINITION OF STATE.

    For the purposes of this Act, the term ``State'' includes the 
District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth 
of the Northern Mariana Islands and the territories and possessions of 
the United States.

Summary: Grants a Federal charter to the Association of American State Geologists .