text: SECTION 1. RECOGNITION AS CORPORATION AND GRANT OF FEDERAL CHARTER.
  
      The Black Veterans of America, a nonprofit corporation organized 
  under the laws of the State of Minnesota, is hereby recognized as such 
  and is granted a Federal charter.
  
  SEC. 2. POWERS.
  
      The Black Veterans of America (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 in 
  which it is incorporated and subject to the laws of such State.
  
  SEC. 3. OBJECTS AND PURPOSES.
  
      The objects and purposes of the corporation are those provided in 
  its bylaws and articles of incorporation and shall include the 
  following:
              (1) Recognizing the contribution to the United States 
          throughout its history made by black Americans in military 
          service.
              (2) Ensuring that all veterans, and particularly black 
          veterans, receive all benefits accorded them under law.
              (3) Serving as an information clearinghouse for all 
          veterans' benefits, including education, housing, job training, 
          disability, health care, and burial benefits.
              (4) Providing outreach and referral to community services 
          for veterans and their families.
              (5) Providing a forum for discussion of veterans' issues 
          and concerns.
  
  SEC. 4. SERVICE OF PROCESS.
  
      With respect to service of process, the corporation shall comply 
  with the laws of the State in which it is incorporated and those States 
  in which it carries on its activities in furtherance of its corporate 
  purposes.
  
  SEC. 5. MEMBERSHIP.
  
      Except as provided in section 8, eligibility for membership in the 
  corporation and the rights and privileges of members of the corporation 
  shall be as provided in the articles of incorporation and bylaws of the 
  corporation.
  
  SEC. 6. BOARD OF DIRECTORS.
  
      Except as provided in section 8, 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 in conformity with the laws of the State in which it is 
  incorporated.
  
  SEC. 7. OFFICERS OF CORPORATION.
  
      Except as provided in section 8, 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 in 
  conformity with the laws of the State in which it is incorporated.
  
  SEC. 8. PROHIBITION AGAINST DISCRIMINATION.
  
      In establishing the conditions of membership in the corporation and 
  in determining the requirements for serving on the board of directors 
  or as an officer of the corporation, the corporation may not 
  discriminate on the basis of race, color, religion, sex, handicap, age, 
  or national origin.
  
  SEC. 9. RESTRICTIONS.
  
      (a) Income and Compensation.--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 necessary 
  expenses in amounts approved by the board of directors.
      (b) Loans.--The corporation may not make any loan to any officer, 
  director, or employee of the corporation.
      (c) Stock.--The corporation shall have no power to issue any shares 
  of stock or to declare or pay any dividends.
      (d) Claim of Congressional Approval or Authorization.--The 
  corporation shall not claim congressional approval or the authorization 
  of the Federal Government for any of its activities by virtue of this 
  Act.
  
  SEC. 10. LIABILITY FOR ACTS OF OFFICERS AND AGENTS.
  
      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.
  
  SEC. 11. BOOKS AND RECORDS.
  
      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.
  
  SEC. 12. 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 the following:
              ``(77) The Black Veterans of America.''.
  
  SEC. 13. 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 the report of 
  the audit required by section 2 of the Act referred to in section 12. 
  The report shall not be printed as a public document.
  
  SEC. 14. RESERVATION OF RIGHT TO ALTER, AMEND, OR REPEAL CHARTER.
  
      The right to alter, amend, or repeal this Act is expressly reserved 
  to the Congress.
  
  SEC. 15. ``STATE'' DEFINED.
  
      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.
  
  SEC. 16. TAX-EXEMPT STATUS.
  
      The corporation shall maintain its status as an organization exempt 
  from taxation as provided in the Internal Revenue Code of 1986.
  
  SEC. 17. TERMINATION FOR FAILURE TO COMPLY WITH RESTRICTIONS OR 
                PROHIBITIONS.
  
      If the corporation shall fail 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 Black Veterans of America (a nonprofit corporation organized under the laws of Minnesota).
feat_title: To recognize the organization known as the Black Veterans of America.