Date: 1984-06-11
Speaker: SAM B. HALL (democrat)
Chamber: H

Mr. Speaker. I yield myself such time as I may con1ilne. Mr. Speaker. the bill. H.R. 4772. as amended. would grant a Federal charter to the Vietnam Veterans of Amerlea. Inc.. which is a national veterans service organization dedicated to promoting and improving the condition of Vietnamcra veterans and others. The membership of this organization totals approximately 16.000 people nationwide. and membership is open to any veteran who served on active duty during the period from August 5. 11.64. to May 7. 1975. or in the Indochina theater. regardless of time of service. The VVA was organized under the notforprofit laws of the State of New York on March 1. 1978. and has been granted its taxexempt status under section 501(c) of the Internal Revenue Code. The VVA was formerly recognized as a service organization by the Veterans Administration in 1981 and it now operates a claims service program at the Veterans Administration. In testimony before the committee. it was pointed out that. VVA has advanced the interests of its rnenubers by appearing before congressional committees. including the House Veterans Affairs Committee. and by studying and supporting legislation affecting its members. The organization endeavors to promote employment opportunities for Vietnam veterans and to consider the particular needs of female. minority group and incarcerated veterans. The VVA maintains a State charter. and the committee has been informed that it operates in a nondiscriminatory manner as a charitable and patriotic association. and its activities are national in scope. This bill would merely recognize an existing Statechartered organization. It does not expand any corporate rights to relieve any corporate responsibilities established by State charter. Moreover. this bill specifically requires compliance with State laws governing the election of corporate officers and the responsibilities of the board of directors for the corporation. It also specifically requires compliance with State laws governing service of process. In order to assure responsible and appropriate conduct on the part of the corporation. the legislation prohibits certain corporate acts and establishes certain requirements for the corporation. The legislation prohibits the loan or transfer of corporate assets to officers. members. or other persons(except for expenses)-or the issuance of stock or the payment of dividends. The legislation further prohibits the corporation from claiming congressional approval or Federal Government authority for any of its activities. The legislation requires the corporation to keep certain records. to perform an annual audit and to file a report of that audit annually with the Congress. Should the corporation engage in any prohibited activity or fail to perform any of the requirements established by this legislation. or if the corporation fails to maintain its tax exempt status. the Federal charter granted by this legislation will expire automatically as a matter of law. The committee recommends that the bill. H.R. 4772. be considered favorably. Mr. Speaker. I yield 5 minutes to the gentlman froin Mississippi .