II

106TH CONGRESS

1ST SESSION S. 620

To grant a Federal charter to Korean War Veterans Association,

Incorporated, and for other purposes.

IN THE SENATE OF THE UNITED STATES

MARCH 15, 1999

Mr. SARBANES (for himself, Mr. WARNER, Ms. MURRAY, and Mr. CAMPBELL)

introduced the following bill; which was read twice and referred to the

Committee on the Judiciary

A BILL

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,

3 SECTION 1. GRANT OF FEDERAL CHARTER TO KOREAN

4 WAR VETERANS ASSOCIATION, INCOR5 PORATED.

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

7 title 36, United States Code, is amended—

8 (1) by striking the following:

9 ‘‘CHAPTER 1201—[RESERVED]’’;

10 and
2

•S 620 IS

1 (2) by inserting the following:

2 ‘‘CHAPTER 1201—KOREAN WAR VETERANS

3 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.

4 ‘‘§ 120101. Organization

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

6 Association, Incorporated (in this chapter, the ‘corpora7 tion’), incorporated in the State of New York, is a feder8 ally chartered corporation.

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

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

11 charter granted by subsection (a) expires.

12 ‘‘§ 120102. Purposes

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

14 its articles of incorporation and include—

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

16 for benevolent and charitable purposes an associa17 tion of persons who have seen honorable service in

18 the Armed Forces during the Korean War, and of

19 certain other persons;
3

•S 620 IS

1 ‘‘(2) providing a means of contact and commu2 nication among members of the corporation;

3 ‘‘(3) promoting the establishment of, and estab4 lishing, war and other memorials commemorative of

5 persons who served in the Armed Forces during the

6 Korean War; and

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

8 their wives and children, and the widows and chil9 dren of persons who were members of the corpora10 tion at the time of their death.

11 ‘‘§ 120103. Membership

12 ‘‘Eligibility for membership in the corporation, and

13 the rights and privileges of members of the corporation,

14 are as provided in the bylaws of the corporation.

15 ‘‘§ 120104. Governing body

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

17 of the corporation, and the responsibilities of the board

18 of directors, are as provided in the articles of incorporation

19 of the corporation.

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

21 the election of the officers of the corporation, are as pro22 vided in the articles of incorporation.
4

•S 620 IS

1 ‘‘§ 120105. Powers

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

3 bylaws and articles of incorporation filed in each State in

4 which it is incorporated.

5 ‘‘§ 120106. Restrictions

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

7 not issue stock or declare or pay a dividend.

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

9 director or officer of the corporation as such, may not con10 tribute to, support, or participate in any political activity

11 or in any manner attempt to influence legislation.

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

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

14 ‘‘(d) CLAIM OF GOVERNMENTAL APPROVAL OR AU15 THORITY.—The corporation may not claim congressional

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

17 of its activities.

18 ‘‘§ 120107. Duty to maintain corporate and tax-ex19 empt status

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

21 maintain its status as a corporation incorporated under

22 the laws of the State of New York.

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

24 maintain its status as an organization exempt from tax25 ation under the Internal Revenue Code of 1986 (26 U.S.C.

26 1 et seq.).
5

•S 620 IS

1 ‘‘§ 120108. Records and inspection

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

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

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

5 board of directors, and committees having any of the

6 authority of its board of directors; and

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

8 names and addresses of its members entitled to vote

9 on matters relating to the corporation.

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

11 matters relating to the corporation, or an agent or attor12 ney of the member, may inspect the records of the cor13 poration for any proper purpose, at any reasonable time.

14 ‘‘§ 120109. Service of process

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

16 District of Columbia to receive service of process for the

17 corporation. Notice to or service on the agent is notice

18 to or service on the Corporation.

19 ‘‘§ 120110. Liability for acts of officers and agents

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

21 and agents acting within the scope of their authority.

22 ‘‘§ 120111. Annual report

23 ‘‘The corporation shall submit an annual report to

24 Congress on the activities of the corporation during the

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

26 same time as the report of the audit required by section
6

•S 620 IS

1 10101 of this title. The report may not be printed as a

2 public document.’’.

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

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

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

6 1201 and inserting the following new item:

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

Æ