‘‘(A) advocating for, and increasing sus-
tainable homeownership; 
‘‘(B) providing financial literacy education, 
‘‘(C) spreading awareness of housing loans 
guaranteed by the Secretary of Veterans Af-
fairs; and 
‘‘(D) increasing economic opportunities for 
members of the Armed Forces and veterans. 
‘‘(2) To establish facilities for the assistance of 
all veterans, with programs regarding topics includ-
ing the following: 
‘‘(A) financial literacy (including under-
standing credit); 
‘‘(B) workforce development; 
‘‘(C) 
small 
business 
incubation 
and 
mentorship; 
‘‘(D) education regarding housing, includ-
ing homelessness prevention, rental counseling, 
foreclosure prevention, and affordable housing 
opportunities; and 
‘‘(E) suicide awareness and prevention. 
‘‘(3) To provide a forum for real estate and fi-
nancial service professionals to share ideas, learn, 
and be empowered to better serve the real estate 
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needs of members of the Armed Forces, veterans, 
their families, and others. 
‘‘(4) To collaborate with organizations in the 
real estate & financial service sector to support em-
ployment of, and economic and business development 
for, veterans. 
‘‘§ 230203. Membership 
‘‘Eligibility for membership in the corporation, and 
the rights and privileges of members of the corporation, 
are as provided in the articles and bylaws of the corpora-
tion. 
‘‘§ 230204. Governing body 
‘‘(a) BOARD OF DIRECTORS.—The composition of the 
board of directors of the corporation, and the responsibil-
ities of the board, are as provided in the articles of incor-
poration and bylaws of the corporation. 
‘‘(b) OFFICERS.—The positions of officers of the cor-
poration, and the election of the officers, are as provided 
in such articles of incorporation and bylaws. 
‘‘§ 230205. Powers 
‘‘The corporation has only those powers provided in 
its bylaws and articles of incorporation filed in each State 
in which it is incorporated. 
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‘‘§ 230206. Restrictions 
‘‘(a) STOCK AND DIVIDENDS.—The corporation may 
not issue stock or declare or pay a dividend. 
‘‘(b) DISTRIBUTION OF INCOME OR ASSETS.—The in-
come or assets of the corporation may not inure to the 
benefit of, or be distributed to, a director, officer, or mem-
ber of the corporation during the life of the charter grant-
ed by this chapter. This subsection shall not prevent the 
payment of reasonable compensation to an officer or em-
ployee of the corporation, or reimbursement for actual 
necessary expenses, in amounts approved by the board of 
directors. 
‘‘(c) POLITICAL ACTIVITIES.—The corporation (or an 
officer of the corporation, in the course of acting in such 
capacity) may not contribute to, support, or participate 
in any political activity. 
‘‘(d) LOANS.—The corporation may not make a loan 
to a director, officer, employee, or member of the corpora-
tion. 
‘‘(e) CLAIM OF GOVERNMENTAL APPROVAL OR AU-
THORITY.—The corporation may not claim congressional 
approval, or the authority of the United States, for any 
of its activities. 
‘‘(f) CORPORATE STATUS.—The corporation shall 
maintain its status as a corporation incorporated under 
the laws of the State of California. 
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‘‘§ 230207. 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. 
‘‘§ 230208. Records and inspection 
‘‘(a) RECORDS.—The corporation shall keep— 
‘‘(1) correct and complete records of account; 
‘‘(2) minutes of the proceedings of the mem-
bers, board of directors, and committees of the cor-
poration having any of the authority of the board of 
directors; 
‘‘(3) at the principal office of the corporation, 
a record of the names and addresses of members of 
the corporation entitled to vote on matters relating 
to the corporation; and 
‘‘(4) the State charter documents, bylaws, and 
articles of incorporation available to the public on an 
easily accessible website of 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. 
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‘‘§ 230209. Service of process 
‘‘The corporation shall comply with the law of service 
of process of the State in which it is incorporated and each 
State in which it operates. 
‘‘§ 230210. Liability for acts of officers and agents 
‘‘The corporation is liable for the acts of its officers 
and agents acting within the scope of their authority. 
‘‘§ 230211. Annual report 
‘‘The corporation shall submit to Congress an annual 
report on the activities of the corporation during the pre-
ceding fiscal year. The report shall be submitted at the 
same time as the report of the audit required by section 
10101 of this title. The report may not be printed as a 
public document. 
‘‘§ 230212. State defined 
‘‘For purposes of this chapter, the term ‘State’ means 
each of the several States, the District of Columbia, the 
Commonwealth of Puerto Rico, or a territory or possession 
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 2301 the following new item: 
‘‘2302. Veterans Association of Real Estate Professionals .....................230201’’. 
Æ 
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