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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''.
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).