text: SECTION 1. GRANT OF FEDERAL CHARTER TO AMERICAN MILITARY RETIREES 
                ASSOCIATION.
  
      (a) Grant of Charter.--Part B of subtitle II of title 36, United 
  States Code, is amended by inserting after chapter 1403 the following 
  new chapter:
  
           ``CHAPTER 1404--AMERICAN MILITARY RETIREES ASSOCIATION
  
  ``Sec.
  ``140401. Organization.
  ``140402. Purposes.
  ``140403. Membership.
  ``140404. Governing body.
  ``140405. Powers.
  ``140406. Restrictions.
  ``140407. Tax-exempt status required as condition of charter.
  ``140408. Records and inspection.
  ``140409. Service of process.
  ``140410. Liability for acts of officers and agents.
  ``140411. Annual report.
  ``140412. Definition.
  ``Sec. 140401. Organization
      ``(a) Federal Charter.--American Military Retirees Association (in 
  this chapter, the `corporation'), a nonprofit organization that meets 
  the requirements for a veterans service organization under section 
  501(c)(19) of the Internal Revenue Code of 1986 and is organized under 
  the laws of the State of New York, is a federally chartered 
  corporation.
      ``(b) Expiration of Charter.--If the corporation does not comply 
  with the provisions of this chapter, the charter granted by subsection 
  (a) shall expire.
  ``Sec. 140402. Purposes
      ``(a) General.--The purposes of the corporation are as provided in 
  its bylaws and articles of incorporation and include--
              ``(1) encouraging military retirees to band together to 
          protect earned benefits by educating on benefits available; and
              ``(2) advocating for the protection of earned benefits 
          through active monitoring of legislation in Congress and the 
          policies and proposals of the Department of Defense and the 
          Department of Veterans Affairs.
  ``Sec. 140403. Membership
      ``Eligibility for membership in the corporation, and the rights and 
  privileges of members of the corporation, are as provided in the bylaws 
  of the corporation.
  ``Sec. 140404. Governing body
      ``(a) Board of Directors.--The composition of the board of 
  directors of the corporation, and the responsibilities of the board, 
  are as provided in the articles of incorporation and bylaws of the 
  corporation.
      ``(b) Officers.--The positions of officers of the corporation, and 
  the election of the officers, are as provided in the articles of 
  incorporation and bylaws.
  ``Sec. 140405. Powers
      ``The corporation has only those powers provided in its bylaws and 
  articles of incorporation filed in each State in which it is 
  incorporated.
  ``Sec. 140406. Restrictions
      ``(a) Stock and Dividends.--The corporation may not issue stock or 
  declare or pay a dividend.
      ``(b) 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, officer, or member of the corporation during the life of 
  the charter granted by this chapter. This subsection does not prevent 
  the payment of reasonable compensation to an officer or employee of the 
  corporation or reimbursement for actual necessary expenses in amounts 
  approved by the board of directors.
      ``(c) Loans.--The corporation may not make a loan to a director, 
  officer, employee, or member of the corporation.
      ``(d) Claim of Governmental Approval or Authority.--The corporation 
  may not claim congressional approval or the authority of the United 
  States Government for any of its activities.
      ``(e) Corporate Status.--The corporation shall maintain its status 
  as a corporation incorporated under the laws of the Commonwealth of 
  Virginia.
  ``Sec. 140407. Tax-exempt status required as condition of charter
      ``If the corporation fails to maintain its status as an 
  organization exempt from taxation under the Internal Revenue Code of 
  1986, the charter granted under this chapter shall terminate.
  ``Sec. 140408. Records and inspection
      ``(a) Records.--The corporation shall keep--
              ``(1) correct and complete records of account;
              ``(2) minutes of the proceedings of the members, board of 
          directors, and committees of the corporation having any of the 
          authority of the board of directors of the corporation; and
              ``(3) at the principal office of the corporation, a record 
          of the names and addresses of the members of the corporation 
          entitled to vote on matters relating to the corporation.
      ``(b) Inspection.--A member entitled to vote on any matter relating 
  to the corporation, or an agent or attorney of the member, may inspect 
  the records of the corporation for any proper purpose at any reasonable 
  time.
  ``Sec. 140409. Service of process
      ``The corporation shall comply with the law on service of process 
  of each State in which it is incorporated and each State in which it 
  carries on activities.
  ``Sec. 140410. Liability for acts of officers and agents
      ``The corporation is liable for any act of any officer or agent of 
  the corporation acting within the scope of the authority of the 
  corporation.
  ``Sec. 140411. Annual report
      ``The corporation shall submit to Congress an annual report on the 
  activities of the corporation during the preceding fiscal year. The 
  report shall be submitted at the same time as the report of the audit 
  required by section 10101(b) of this title. The report may not be 
  printed as a public document.
  ``Sec. 140412. Definition
      ``In this chapter, the term `State' includes the District of 
  Columbia and the territories and possessions of the United States.''.
      (b) 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 1403 the following new item:
  
          ``1404. American Military Retirees Association.....   140401''.
target: Grants a federal charter to the American Military Retirees Association.
feat_title: To amend title 36, United States Code, to grant a Federal charter to the American Military Retirees Association, and for other purposes.