Page:United States Statutes at Large Volume 100 Part 4.djvu/1102

 100 STAT. 3448 state and local governments.

PUBLIC LAW 99-604—NOV. 6, 1986

any proper purpose, at any reasonable time. Nothing in this section shall be construed to contravene any applicable State law. fSWii.lV"-'.

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AUDIT OF FINANCIAL TRANSACTIONS

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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: "(68) Army and Navy Union of the United States of America.". ii, ANNUAL REPORT

36 USC 3911. u«

SEC. 12. The corporation shall report annually to the Cbngress concerning the activities of the corporation during the preceding fiscal year. Such annual report shall be submitted at the same time V w: ^g jg YiQ report of the audit required by section 11 of this Act. The report shall not be printed as a public document. RESERVATION OF R I G H T TO A M E N D OR REPEAL CHARTER

36 USC 3912.

SEC. 13. The right to alter, amend, or repeeil this Act is expressly reserved to the Congress. DEFINITION OF " S T A T E "

36 USC 3913.

SEC. 14. 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. •*

T A X - E X E M P T STATUS

36 USC 3914.

SEC. 15. The corporation shall maintain its status as an organization exempt from taxation as provided in the Internal Revenue Code 26 USC 1 et seq. of 1954. If the corporation fails to maintain such status, the charter granted hereby shall expire. TERMINATION

36 USC 3915.

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SEC. 16. 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 6, 1986.

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LEGISLATIVE HISTORY—H.R. 897:

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CONGRESSIONAL RECORD: Vol. 131 (1985): May 13, considered and passed House. Vol. 132 (1986): Oct. 18, considered and peissed Senate.

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