106TH CONGRESS

1ST SESSION S. 620

AN ACT

To grant a Federal charter to Korean War Veterans

Association, Incorporated, and for other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,
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1 SECTION 1. GRANT OF FEDERAL CHARTER TO KOREAN

2 WAR VETERANS ASSOCIATION, INCOR3 PORATED.

4 (a) GRANT OF CHARTER.—Part B of subtitle II of

5 title 36, United States Code, is amended—

6 (1) by striking the following:

7 ‘‘CHAPTER 1201—[RESERVED]’’;

8 and

9 (2) by inserting the following:

10 ‘‘CHAPTER 1201—KOREAN WAR VETERANS

11 ASSOCIATION, INCORPORATED

‘‘Sec.

‘‘120101. Organization.

‘‘120102. Purposes.

‘‘120103. Membership.

‘‘120104. Governing body.

‘‘120105. Powers.

‘‘120106. Restrictions.

‘‘120107. Duty to maintain corporate and tax-exempt status.

‘‘120108. Records and inspection.

‘‘120109. Service of process.

‘‘120110. Liability for acts of officers and agents.

‘‘120111. Annual report.

12 ‘‘§ 120101. Organization

13 ‘‘(a) FEDERAL CHARTER.—Korean War Veterans

14 Association, Incorporated (in this chapter, the ‘corpora15 tion’), incorporated in the State of New York, is a feder16 ally chartered corporation.

17 ‘‘(b) EXPIRATION OF CHARTER.—If the corporation

18 does not comply with the provisions of this chapter, the

19 charter granted by subsection (a) expires.
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1 ‘‘§ 120102. Purposes

2 ‘‘The purposes of the corporation are as provided in

3 its articles of incorporation and include—

4 ‘‘(1) organizing, promoting, and maintaining

5 for benevolent and charitable purposes an associa6 tion of persons who have seen honorable service in

7 the Armed Forces during the Korean War, and of

8 certain other persons;

9 ‘‘(2) providing a means of contact and commu10 nication among members of the corporation;

11 ‘‘(3) promoting the establishment of, and estab12 lishing, war and other memorials commemorative of

13 persons who served in the Armed Forces during the

14 Korean War; and

15 ‘‘(4) aiding needy members of the corporation,

16 their wives and children, and the widows and chil17 dren of persons who were members of the corpora18 tion at the time of their death.

19 ‘‘§ 120103. Membership

20 ‘‘Eligibility for membership in the corporation, and

21 the rights and privileges of members of the corporation,

22 are as provided in the bylaws of the corporation.

23 ‘‘§ 120104. Governing body

24 ‘‘(a) BOARD OF DIRECTORS.—The board of directors

25 of the corporation, and the responsibilities of the board
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1 of directors, are as provided in the articles of incorporation

2 of the corporation.

3 ‘‘(b) OFFICERS.—The officers of the corporation, and

4 the election of the officers of the corporation, are as pro5 vided in the articles of incorporation.

6 ‘‘§ 120105. Powers

7 ‘‘The corporation has only the powers provided in its

8 bylaws and articles of incorporation filed in each State in

9 which it is incorporated.

10 ‘‘§ 120106. Restrictions

11 ‘‘(a) STOCK AND DIVIDENDS.—The corporation may

12 not issue stock or declare or pay a dividend.

13 ‘‘(b) POLITICAL ACTIVITIES.—The corporation, or a

14 director or officer of the corporation as such, may not con15 tribute to, support, or participate in any political activity

16 or in any manner attempt to influence legislation.

17 ‘‘(c) LOAN.—The corporation may not make a loan

18 to a director, officer, or employee of the corporation.

19 ‘‘(d) CLAIM OF GOVERNMENTAL APPROVAL OR AU20 THORITY.—The corporation may not claim congressional

21 approval, or the authority of the United States, for any

22 of its activities.
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1 ‘‘§ 120107. Duty to maintain corporate and tax-ex2 empt status

3 ‘‘(a) CORPORATE STATUS.—The corporation shall

4 maintain its status as a corporation incorporated under

5 the laws of the State of New York.

6 ‘‘(b) TAX-EXEMPT STATUS.—The corporation shall

7 maintain its status as an organization exempt from tax8 ation under the Internal Revenue Code of 1986 (26 U.S.C.

9 1 et seq.).

10 ‘‘§ 120108. Records and inspection

11 ‘‘(a) RECORDS.—The corporation shall keep—

12 ‘‘(1) correct and complete records of account;

13 ‘‘(2) minutes of the proceedings of its members,

14 board of directors, and committees having any of the

15 authority of its board of directors; and

16 ‘‘(3) at its principal office, a record of the

17 names and addresses of its members entitled to vote

18 on matters relating to the corporation.

19 ‘‘(b) INSPECTION.—A member entitled to vote on

20 matters relating to the corporation, or an agent or attor21 ney of the member, may inspect the records of the cor22 poration for any proper purpose, at any reasonable time.

23 ‘‘§ 120109. Service of process

24 ‘‘The corporation shall have a designated agent in the

25 District of Columbia to receive service of process for the
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1 corporation. Notice to or service on the agent is notice

2 to or service on the Corporation.

3 ‘‘§ 120110. Liability for acts of officers and agents

4 ‘‘The corporation is liable for the acts of its officers

5 and agents acting within the scope of their authority.

6 ‘‘§ 120111. Annual report

7 ‘‘The corporation shall submit an annual report to

8 Congress on the activities of the corporation during the

9 preceding fiscal year. The report shall be submitted at the

10 same time as the report of the audit required by section

11 10101 of this title. The report may not be printed as a

12 public document.’’.

13 (b) CLERICAL AMENDMENT.—The table of chapters

14 at the beginning of subtitle II of title 36, United States

15 Code, is amended by striking the item relating to chapter

16 1201 and inserting the following new item:

‘‘1201. Korean War Veterans Association, Incorporated .........................120101’’.

Passed the Senate August 5, 1999.

Attest:

Secretary.
106TH CONGRESS

1ST SESSION S. 620

AN ACT

To grant a Federal charter to Korean War Vetpurposes. erans Association, Incorporated, and for other