text: That the 29th Division 
  Association, Incorporated, a nonprofit corporation organized under the 
  laws of the State of New Jersey, is recognized as such and is granted a 
  Federal charter.
  
                                   powers
  
      Sec. 2. The 29th Division Association, Incorporated (hereinafter in 
  this Act 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.
  
                    objects and purposes of corporation
  
      Sec. 3. The objects and purposes of the corporation are those 
  provided in its articles of incorporation and shall include--
              (1) the promotion of fellowship among its members;
              (2) the perpetuation of the record of the 29th Division, 
          United States Army, in the World Wars;
              (3) the promotion of the welfare of its members, their 
          families, and the families of the members of the Division who 
          lost their lives in the service of Our Country;
              (4) the consideration of questions concerning the military 
          policy of the United States of America; and
              (5) to uphold and defend the Constitution of the United 
          States of America.
  
                             service of process
  
      Sec. 4. With respect to service of process, the corporation shall 
  comply with the laws of the State or States in which it is incorporated 
  and the State or States in which it carries on its activities in 
  furtherance of its corporate purposes.
  
                                 membership
  
      Sec. 5. (a) Subject to subsection (b), eligibility for membership 
  in the corporation and the rights and privileges of members of the 
  corporation shall be as provided in the constitution and bylaws of the 
  corporation.
      (b) Terms of membership and requirements for holding office within 
  the corporation shall not discriminate on the basis of race, color, 
  national origin, sex, religion, or handicapped status.
  
             board of directors; composition; responsibilities
  
      Sec. 6. The composition of the board of directors of the 
  corporation and the responsibilities of such board shall be as provided 
  in the articles of incorporation of the corporation and shall be in 
  conformity with the laws of the State or States in which it is 
  incorporated.
  
                          officers of corporation
  
      Sec. 7. The positions of officers of the corporation and the 
  election of members to such positions shall be as provided in the 
  articles of incorporation of the corporation and shall be in conformity 
  with the laws of the State or States in which it is incorporated.
  
                                restrictions
  
      Sec. 8. (a) No part of the income or assets of the corporation may 
  inure to the benefit of any member, officer, or director of the 
  corporation or be distributed to any such individual 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 and necessary expenses in 
  amounts approved by the board of directors.
      (b) The corporation may not make any loan to any officer, director, 
  or employee of the corporation.
      (c) The corporation may not contribute to, support, or otherwise 
  participate in any political activity or attempt in any manner to 
  influence legislation. No officer or director of the corporation, 
  acting as such officer or director, may commit any act prohibited under 
  this subsection.
      (d) The corporation shall have no power to issue any shares of 
  stock nor to declare or pay any dividends.
      (e) The corporation shall not claim congressional approval or 
  Federal Government authority for any of its activities.
  
                                 liability
  
      Sec. 9. The corporation shall be liable for the acts of its 
  officers and agents whenever such officers and agents have acted within 
  the scope of their authority.
  
                       books and records; inspection
  
      Sec. 10. The corporation shall keep correct and complete books and 
  records of account and 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 in any proceeding of the 
  corporation. All books and records of such corporation may be inspected 
  by any member having the right to vote in any corporation proceeding, 
  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.
  
                      audit of financial transactions
  
      Sec. 11. 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:
              ``(74) 29th Division Association, Incorporated.''.
  
                               annual report
  
      Sec. 12. 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 
  the report of the audit of the corporation required by section 2 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). The report shall not be printed as a public document.
  
          reservation of right to amend, alter, or repeal charter
  
      Sec. 13. The right to amend, alter, or repeal this Act is expressly 
  reserved to the Congress.
  
                            definition of state
  
      Sec. 14. For purposes of this Act, the term ``State'' includes the 
  District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth 
  of the Northern Mariana Islands, and the territories and possessions of 
  the United States.
  
                             tax-exempt status
  
      Sec. 15. The corporation shall maintain its status as an 
  organization exempt from taxation as provided in the Internal Revenue 
  Code of 1986.
  
                                termination
  
      Sec. 16. If the corporation fails to comply with any of the 
  restrictions or provisions of this Act, the charter granted by this Act 
  shall expire.
target: Grants a Federal Charter to the 29th Division Associated, Inc.  (a nonprofit corporation organized under the laws of New Jersey).
feat_title: A bill to recognize the organization known as the 29th Division Associated, Incorporated.