Collapse to view only § 152909. Duty to maintain corporate and tax-exempt status
- § 152901. Definition
- § 152902. Organization
- § 152903. Purposes
- § 152904. Membership
- § 152905. Governing body
- § 152906. Powers
- § 152907. Exclusive right to name, seals, emblems, and badges
- § 152908. Restrictions
- § 152909. Duty to maintain corporate and tax-exempt status
- § 152910. Records and inspection
- § 152911. Service of process
- § 152912. Liability for acts of officers and agents
- § 152913. Annual report
§ 152901. Definition
For purposes of this chapter, “State” includes the District of Columbia and the territories and possessions of the United States.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1420.)
§ 152902. Organization
(a)Federal Charter.—National Society, Daughters of the American Colonists (in this chapter, the “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.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1420.)
§ 152903. Purposes
The purposes of the corporation are as provided in the articles of incorporation and include a continuing commitment, on a national basis—
(1) to conduct, record, and publish the results of research on the history and deeds of the American colonists;
(2) to publish the memoirs of American colonists;
(3) to erect memorials to commemorate the history and deeds of the American colonists;
(4) to promote respect and admiration for the institutions, laws, and flag of the United States;
(5) to engage in mutual improvement and educational activities;
(6) to establish scholarships to assist needy and deserving students and to promote the improvement of educational institutions;
(7) to engage in volunteer service and make contributions to veterans hospitals; and
(8) to perform other charitable activities, including the national presidents’ projects, as may be provided in the articles of incorporation or bylaws of the corporation.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1420; Pub. L. 105–354, § 1(10), Nov. 3, 1998, 112 Stat. 3244.)
§ 152904. Membership
(a)Eligibility.—Except as provided in this chapter, eligibility for membership in the corporation and the rights and privileges of members are as provided in the constitution and bylaws of the corporation.
(b)Nondiscrimination.—The terms of membership may not discriminate on the basis of race, color, religion, or national origin.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1420.)
§ 152905. Governing body
(a)Board of Directors.—The board of directors and the responsibilities of the board are as provided in the articles of incorporation or bylaws.
(b)Officers.—The officers and the election of officers are as provided in the articles of incorporation or bylaws.
(c)Nondiscrimination.—The requirements for holding office in the corporation may not discriminate on the basis of race, color, religion, or national origin.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1421.)
§ 152906. Powers
The corporation has only the powers provided in its bylaws and articles of incorporation filed in each State in which it is incorporated.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1421.)
§ 152907. Exclusive right to name, seals, emblems, and badges
The corporation has the exclusive right to use the name “National Society, Daughters of the American Colonists” and seals, emblems, and badges the corporation adopts. This section does not affect any vested rights.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1421.)
§ 152908. Restrictions
(a)Stock and Dividends.—The corporation may not issue stock or declare or pay a dividend.
(b)Political Activities.—The corporation or a director or officer as such may not contribute to, support, or participate in any political activity or in any manner attempt to influence legislation.
(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, officer, or member during the life of the charter granted by this chapter. This subsection does not prevent the payment of reasonable compensation to an officer or reimbursement for actual necessary expenses in amounts approved by the board of directors.
(d)Loans.—The corporation may not make a loan to a director, officer, or employee.
(e)Claim of Governmental Approval or Authorization.—The corporation may not claim congressional approval or the authority of the United States Government for any of its activities.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1421.)
§ 152909. 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 each State in which it is incorporated.
(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.).
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1421.)
§ 152910. Records and inspection
(a)Records.—The corporation shall keep—
(1) correct and complete records of account;
(2) minutes of the proceedings of its members, board of directors, and committees having any of the authority of its board of directors; and
(3) at its principal office, a record of the names and addresses of its members entitled to vote.
(b)Inspection.—A member entitled to vote, or an agent or attorney of the member, may inspect the records of the corporation for any proper purpose, at any reasonable time.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1421.)
§ 152911. 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.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1422.)
§ 152912. 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.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1422.)
§ 152913. 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. The report may not be printed as a public document.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1422.)