To amend title 36, United States Code, to grant a Federal charter to the Special Operations Warrior Foundation, Inc.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Special Operations Warrior 
Foundation Charter Act''.

SEC. 2. CHARTER FOR SPECIAL OPERATIONS WARRIOR FOUNDATION.

    Part B of subtitle II of title 36, United States Code, is amended 
by inserting after chapter 2305 the following new chapter:

         ``CHAPTER 2306--SPECIAL OPERATIONS WARRIOR FOUNDATION

``Sec. 230601. Definitions
    ``For the purposes of this chapter--
            ``(1) the term `Special Operations personnel' means all 
        military personnel from all services assigned to the United 
        States Special Operations Command of the Department of Defense 
        or its successor commands or organizations.
            ``(2) the term `State' includes the District of Columbia 
        and the territories and possessions of the United States.
``Sec. 230602. Organization
    ``(a) Federal Charter.--The Special Operations Warrior Foundation 
(in this chapter, the `corporation'), a nonprofit corporation 
incorporated in the District of Columbia, is a federally chartered 
corporation.
    ``(b) Expiration of Charter.--If the corporation does not comply 
with any provision of this chapter, the charter granted by this chapter 
expires.
``Sec. 230603. Purposes
    ``The purposes of the corporation are as provided in its bylaws and 
articles of incorporation and include the provision of scholarship 
grants and family, financial, and educational counseling to the 
families of Special Operations personnel who have given their lives in 
patriotic service to their country.
``Sec. 230604. Governing body
    ``(a) Board of Directors.--The board of directors is the governing 
body of the corporation. The composition of the board -and its powers, 
duties, and responsibilities are as provided in the corporation's 
bylaws and articles of incorporation.
    ``(b) Officers.--The officers and the election of officers of the 
corporation are as provided in its bylaws and articles of 
incorporation.
``Sec. 230605. Powers
    ``The corporation may--
            ``(1) adopt and amend bylaws for the management of its 
        property and the regulation of its affairs;
            ``(2) adopt and alter the corporate seal;
            ``(3) choose officers, managers, and agents as the 
        activities of the corporation require;
            ``(4) solicit, accept, and use to carry out the purposes of 
        the corporation any appropriations, grants, funds, 
        contributions in cash or in-kind, or property from the 
        government of the United States, State and local governments, 
        charitable or educational organizations, foundations, public 
        and private corporations, and individuals;
            ``(5) make contracts;
            ``(6) acquire, own, lease, encumber, and transfer property 
        as necessary or convenient to carry out the purposes of the 
        corporation;
            ``(7) borrow money, issue instruments of indebtedness, and 
        secure its obligations by granting security interests in its 
        property;
            ``(8) sue and be sued; and
            ``(9) do any other act necessary and proper to carry out 
        the purposes of the corporation.
``Sec. 230606. Support by the Departments of Defense and Veterans 
              Affairs
    ``(a) In General.--The Department of Defense, the Department of 
Veterans Affairs, and any other Federal departments or agencies as may 
be necessary and appropriate, may provide such assistance to the 
corporation as is required to accomplish the purposes of the 
corporation.
    ``(b) Information.--The Departments of Defense and Veterans Affairs 
shall provide such information to the corporation as shall enable the 
corporation to provide timely benefits to the surviving families of any 
Special Operations personnel killed in the line of duty. The 
information shall include all the data recorded on any casualty report 
on the decedent and the names, addresses, and telephone numbers of the 
decedent's surviving children and the names, addresses, and telephone 
numbers of the parent or legal guardians of the decedent's surviving 
children.
    ``(c) Logistics.--The Department of Defense may provide logistical 
support to the corporation.
``Sec. 230607. Exclusive right to name, seals, emblems, and badges
    ``The corporation shall have the exclusive right to use the name 
`Special Operations Warrior Foundation' and any seals, emblems, and 
badges the corporation adopts.
``Sec. 230608. Restrictions
    ``(a) Stocks and Dividends.--The corporation may not issue stock or 
declare or pay a dividend.
    ``(b) Political Activities.--The corporation, or a director or 
officer of the corporation, as such, may not contribute to, support, or 
participate in any political activity.
    ``(c) Distribution of Income or Assets.--The income or assets of 
the corporation may not inure to the benefit of, or be distributed to, 
a director or officer during the life of the charter granted by this 
chapter. This subsection does not prevent the payment of reasonable 
compensation to an officer or director or reimbursement for actual and 
necessary expenses incurred by an officer or director in amounts 
approved by the board of directors.
    ``(d) Loans.--The corporation may not make a loan to any director, 
officer, or employee.
``Sec. 230609. Duty to maintain corporate and tax-exempt status
    ``(a) Corporate Status.--The corporation shall maintain its status 
as a corporation incorporated under the laws of the District of 
Columbia.
    ``(b) Tax-Exempt Status.--The corporation shall maintain its status 
as an organization exempt from taxation under the Internal Revenue Code 
of 1986 (26 U.S.C. 1 et seq.).
``Sec. 2306010. Records
    ``The corporation shall keep correct and complete records of 
account and minutes of the proceedings of its board of directors and 
committees having any of the authority of its board of directors.
``Sec. 2306011. 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.
``Sec. 2306012. Annual report
    ``The corporation shall submit an annual report to Congress on the 
activities of the corporation during the prior fiscal year. The report 
shall be submitted at the same time as the report of the audit required 
by section 10101 of this title.''.

SEC. 3. 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 2305 the following new item:

``2306. Special Operations Warrior Foundation...............  230601''.

Summary: Special Operations Warrior Foundation Charter Act - Grants a Federal charter to the Special Operations Warrior Foundation, Inc. (a nonprofit corporation organized under the laws of the District of Columbia).