A bill to recognize the organization known as the 29th Division Associated, Incorporated.

That the 29th Division 
Association, Incorporated, a nonprofit corporation organized under the 
laws of the State of New Jersey, is recognized as such and is granted a 
Federal charter.

                                 powers

    Sec. 2. The 29th Division Association, Incorporated (hereinafter in 
this Act referred to as the ``corporation''), shall have only those 
powers granted to it through its bylaws and articles of incorporation 
filed in the State or States in which it is incorporated and subject to 
the laws of such State or States.

                  objects and purposes of corporation

    Sec. 3. The objects and purposes of the corporation are those 
provided in its articles of incorporation and shall include--
            (1) the promotion of fellowship among its members;
            (2) the perpetuation of the record of the 29th Division, 
        United States Army, in the World Wars;
            (3) the promotion of the welfare of its members, their 
        families, and the families of the members of the Division who 
        lost their lives in the service of Our Country;
            (4) the consideration of questions concerning the military 
        policy of the United States of America; and
            (5) to uphold and defend the Constitution of the United 
        States of America.

                           service of process

    Sec. 4. With respect to service of process, the corporation shall 
comply with the laws of the State or States in which it is incorporated 
and the State or States in which it carries on its activities in 
furtherance of its corporate purposes.

                               membership

    Sec. 5. (a) Subject to subsection (b), eligibility for membership 
in the corporation and the rights and privileges of members of the 
corporation shall be as provided in the constitution and bylaws of the 
corporation.
    (b) Terms of membership and requirements for holding office within 
the corporation shall not discriminate on the basis of race, color, 
national origin, sex, religion, or handicapped status.

           board of directors; composition; responsibilities

    Sec. 6. The composition of the board of directors of the 
corporation and the responsibilities of such board shall be as provided 
in the articles of incorporation of the corporation and shall be in 
conformity with the laws of the State or States in which it is 
incorporated.

                        officers of corporation

    Sec. 7. The positions of officers of the corporation and the 
election of members to such positions shall be as provided in the 
articles of incorporation of the corporation and shall be in conformity 
with the laws of the State or States in which it is incorporated.

                              restrictions

    Sec. 8. (a) No part of the income or assets of the corporation may 
inure to the benefit of any member, officer, or director of the 
corporation or be distributed to any such individual during the life of 
this charter. Nothing in this subsection shall be construed to prevent 
the payment of reasonable compensation to the officers of the 
corporation or reimbursement for actual and necessary expenses in 
amounts approved by the board of directors.
    (b) The corporation may not make any loan to any officer, director, 
or employee of the corporation.
    (c) The corporation may not contribute to, support, or otherwise 
participate in any political activity or attempt in any manner to 
influence legislation. No officer or director of the corporation, 
acting as such officer or director, may commit any act prohibited under 
this subsection.
    (d) The corporation shall have no power to issue any shares of 
stock nor to declare or pay any dividends.
    (e) The corporation shall not claim congressional approval or 
Federal Government authority for any of its activities.

                               liability

    Sec. 9. The corporation shall be liable for the acts of its 
officers and agents whenever such officers and agents have acted within 
the scope of their authority.

                     books and records; inspection

    Sec. 10. The corporation shall keep correct and complete books and 
records of account and minutes of any proceeding of the corporation 
involving any of its members, the board of directors, or any committee 
having authority under the board of directors. The corporation 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 
corporation. All books and records of such corporation may be inspected 
by any member having the right to vote in any corporation proceeding, 
or by any agent or attorney of such member, for any proper purpose at 
any reasonable time. Nothing in this section shall be construed to 
contravene any applicable State law.

                    audit of financial transactions

    Sec. 11. 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 thereof the following:
            ``(74) 29th Division Association, Incorporated.''.

                             annual report

    Sec. 12. The corporation shall report annually to the Congress 
concerning the activities of the corporation during the preceding 
fiscal year. Such annual report shall be submitted at the same time as 
the report of the audit of the corporation required by section 2 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). The report shall not be printed as a public document.

        reservation of right to amend, alter, or repeal charter

    Sec. 13. The right to amend, alter, or repeal this Act is expressly 
reserved to the Congress.

                          definition of state

    Sec. 14. For 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.

                           tax-exempt status

    Sec. 15. The corporation shall maintain its status as an 
organization exempt from taxation as provided in the Internal Revenue 
Code of 1986.

                              termination

    Sec. 16. If the corporation fails to comply with any of the 
restrictions or provisions of this Act, the charter granted by this Act 
shall expire.

Summary: Grants a Federal Charter to the 29th Division Associated, Inc.  (a nonprofit corporation organized under the laws of New Jersey).