I 
118TH CONGRESS 
1ST SESSION H. R. 3240 
To amend title 36, United States Code, to grant a Federal charter to the 
Veterans Association of Real Estate Professionals. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 11, 2023 
Mrs. LEE of Nevada (for herself, Mrs. STEEL, and Mr. TRONE) introduced 
the following bill; which was referred to the Committee on the Judiciary 
A BILL 
To amend title 36, United States Code, to grant a Federal 
charter to the Veterans Association of Real Estate Pro-
fessionals. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. GRANT OF FEDERAL CHARTER TO VETERANS 
ASSOCIATION 
OF 
REAL 
ESTATE 
PROFES-
SIONALS. 
(a) GRANT OF CHARTER.—Part B of subtitle II of 
title 36, United States Code, is amended by inserting after 
chapter 2301 the following new chapter: 
VerDate Sep 11 2014 
04:31 May 24, 2023
Jkt 039200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H3240.IH
H3240
kjohnson on DSK79L0C42PROD with BILLS
‘‘CHAPTER 2302—VETERANS ASSOCIATION 
OF REAL ESTATE PROFESSIONALS 
‘‘Sec. 
‘‘230201. Organization. 
‘‘230202. Purposes. 
‘‘230203. Membership. 
‘‘230204. Governing body. 
‘‘230205. Powers. 
‘‘230206. Restrictions. 
‘‘230207. Tax-exempt status required as condition of charter. 
‘‘230208. Records and inspection. 
‘‘230209. Service of process. 
‘‘230210. Liability for acts of officers and agents. 
‘‘230211. Annual report. 
‘‘230212. State defined. 
‘‘§ 230201. Organization 
‘‘(a) FEDERAL CHARTER.—Veterans Association of 
Real Estate Professionals (in this chapter, the ‘corpora-
tion’), a nonprofit organization that meets the require-
ments 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 State of California, 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) expires. 
‘‘§ 230202. Purposes 
‘‘The purposes of the corporation are those provided 
in its articles of incorporation and include the following: 
‘‘(1) To organize as a veterans service organiza-
tion to maintain a continuing interest in the welfare 
of veterans by— 
VerDate Sep 11 2014 
04:31 May 24, 2023
Jkt 039200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H3240.IH
H3240
kjohnson on DSK79L0C42PROD with BILLS
‘‘(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 
VerDate Sep 11 2014 
04:31 May 24, 2023
Jkt 039200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H3240.IH
H3240
kjohnson on DSK79L0C42PROD with BILLS
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. 
VerDate Sep 11 2014 
04:31 May 24, 2023
Jkt 039200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H3240.IH
H3240
kjohnson on DSK79L0C42PROD with BILLS
‘‘§ 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. 
VerDate Sep 11 2014 
04:31 May 24, 2023
Jkt 039200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6201
E:\BILLS\H3240.IH
H3240
kjohnson on DSK79L0C42PROD with BILLS
‘‘§ 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 
VerDate Sep 11 2014 
04:31 May 24, 2023
Jkt 039200
PO 00000
Frm 00007
Fmt 6652
Sfmt 6301
E:\BILLS\H3240.IH
H3240
kjohnson on DSK79L0C42PROD with BILLS