Page:United States Statutes at Large Volume 110 Part 3.djvu/1031

 PUBLIC LAW 104-201—SEPT. 23, 1996 110 STAT. 2761 (6) Preserving the spirit of shipmanship by providing assistance to shipmates and their families. (7) Instilhng love of the United States and the flag and promoting soundness of mind and body in the youth of the United States. SEC. 1804. SERVICE OF PROCESS. 36 USC 5604. With respect to service of process, the association shall comply with the laws of the State of Delaware and those States in which it carries on its activities in furtherance of its corporate purposes. SEC. 1805. MEMBERSmP. 36 USC 5605. Except as provided in section 1808(g), eligibility for membership in the association and the rights and privileges of members shall be as provided in the bylaws and articles of incorporation of the association. SEC. 1806. BOARD OF DIRECTORS. 36 USC 5606. Except as provided in section 1808(g), the composition of the board of directors of the association and the responsibilities of the board shall be as provided in the bylaws and articles of incorporation of the association and in conformity with the laws of the State of Delaware. SEC. 1807. OFFICERS. 36 USC 5607. Except as provided in section 1808(g), the positions of officers of the association and the election of members to such positions shall be as provided in the bylaws and articles of incorporation of the association and in conformity with the laws of the State of Delaware. SEC. 1808. RESTRICTIONS. 36 USC 5608. (a) INCOME AND COMPENSATION. —No part of the income or assets of the association may inure to the benefit of any member, officer, or director of the association or be distributed to any such individual during the life of this charter. Nothing in this subsection may be construed to prevent the pa5anent of reasonable compensation to the officers and employees of the association or reimbursement for actual and necessary expenses in amounts approved by the board of directors. (b) LOANS. —The association may not make any loan to any member, officer, director, or employee of the association. (c) ISSUANCE OF STOCK AND PAYMENT OF DIVIDENDS. — The association may not issue any shares of stock or declare or pay any dividends. (d) DISCLAIMER OF CONGRESSIONAL OR FEDERAL APPROVAL.— The association may not claim the approval of the Congress or the authorization of the Federal Government for any of its activities by virtue of this title. (e) CORPORATE STATUS.— The association shall maintain its status as a corporation organized and incorporated under the laws of the State of Delaware. (1) CORPORATE FUNCTION.— The association shall function as an educational, patriotic, civic, historical, and research organization under the laws of the State of Delaware. (g) NONDISCRIMINATION.— In establishing the conditions of membership in the association and in determining the requirements for serving on the board of directors or as an officer of the associa-

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