Volume 95 · 1094
Public Law 97–83
To recognize the organization known as the United States Submarine Veterans of World War II.
Approved November 20, 1981
Statutory text
An Act
To recognize the organization known as the United States Submarine Veterans of World War II.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section 1. charter
The United States Submarine Veterans of World War II, incorporated under the Non-profit Corporation Act of the State of New Jersey, and the State of Colorado, is hereby recognized as such and is granted a charter.
Sec. 2. powers
United States Submarine Veterans of World War II (hereinafter 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.
Sec. 3. objects and purposes of corporation
The objects and purposes of the corporation are those provided in its articles of incorporation and shall include patriotism and loyalty to the United States of America; the perpetuation and establishment of memorials to the memory of those shipmates who served aboard United States submarines and gave their lives in submarine warfare during World War II; promotion of the spirit and unity that existed among the United States Navy submarine crewmen during World War II; fostering general public awareness of life aboard submarines during World War 11, through securing, restoring, and displaying the submarines that were in service at that time; sponsoring annual college scholarships; and performance of such acts of charity as provided for by the constitution and bylaws.
Sec. 4. service of process
With respect to service of process, the corporation shall comply with the laws of the States in which it is incorporated and those States in which it carries on its activities in furtherance of its corporate purposes.
Sec. 5. membership
Eligibility for membership in the corporation and the rights and privileges of members shall, except as provided in this Act, be as provided in the constitution and bylaws of the corporation.
Sec. 6. board of directors; composition; responsibilities
The board of directors of the corporation and the responsibilities
thereof shall be as provided in the articles of incorporation of the corporation and in conformity with the laws of the State or States in which it is incorporated.
Sec. 7. officers of corporation
The officers of the corporation, and the election of such
officers shall be as is provided in the articles of incorporation of the corporation and in conformity with the laws of the State or States wherein it is incorporated.
Sec. 8. restrictions
No part of the income or assets of the corporation shall
inure to any member, officer, or director of the corporation or be distributed to any such person 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 necessary expenses in amounts approved by the board of directors.
The corporation shall not make any loan to any officer, director, or employee of the corporation.
The corporation and any officer and director of the corporation, acting as such officer or director, shall not contribute to, support or otherwise participate in any political activity or in any manner attempt to influence legislation.
The corporation shall have no power to issue any shares of stock nor to declare or pay any dividends.
The corporation shall not claim congressional approval or Federal Government authority for any of its activities.
Sec. 9. liability
The corporation shall be liable for the acts of its officers and
agents when acting within the scope of their authority.
Sec. 10. books and records; inspection
The corporation shall keep correct and complete books and
records of account and shall keep 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. All books and records of such corporation may be inspected by any member having the right to vote, 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.
Sec. 11. audit of financial transactions
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:
“(55) United States Submarine Veterans of World War II.”.
Sec. 12. annual report
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 in the report of the audit required by section 11 of this Act. The report shall not be printed as a public document.
Sec. 13. reservation of right to amend or repeal charter
The right to alter, amend, or repeal this Act is expressly reserved to the Congress.
Sec. 14. definition of “state”
For purposes of this Act, the term “State” includes the District of Columbia, the Commonwealth of Puerto Rico, and the territories and possessions of the United States.
Sec. 15. tax exempt status
The corporation shall maintain its status as an organization exempt from taxation as provided in the Internal Revenue Code. If the corporation fails to maintain such status, the charter granted hereby shall expire.
Sec. 16. termination
If the corporation shall fail to comply with any of the restrictions or provisions of this Act, the charter granted hereby shall expire.
Approved November 20, 1981.