Page:United States Statutes at Large Volume 111 Part 2.djvu/885

 PUBLIC LAW 105-85 —NOV. 18, 1997 111 STAT. 1965 (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 District of Columbia. (f) CORPORATE FUNCTION.— The association shall function as an educational, patriotic, civic, historical, and research organization under the laws of the District of Columbia. (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 association, the association may not discriminate on the basis of race, color, religion, sex, handicap, age, or national origin. SEC. 1509. LIABILITY. 36 USC 5809. The association shall be liable for the acts of its officers, directors, employees, and agents whenever such individuals act within the scope of their authority. SEC. 1510. MAINTENANCE AND INSPECTION OF BOOKS AND RECORDS. 36 USC 5810. (a) BOOKS AND RECORDS OF ACCOUNT. —The association shall keep correct and complete books and records of account and minutes of any proceeding of the association involving any of its members, the board of directors, or any committee having authority under the board of directors. (b) NAMES AND ADDRESSES OF MEMBERS.— The association 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 association. (c) RIGHT TO INSPECT BOOKS AND RECORDS. —All books and records of the association may be inspected by any member having the right to vote in any proceeding of the association, or by any agent or attorney of such member, for any proper purpose at any reasonable time. (d) APPLICATION OF STATE LAW. —This section may not be construed to contravene any applicable State law. SEC. 1511. 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— (1) by redesignating the paragraph (77) added by section 1811 of Public Law 104-201 (110 Stat. 2762) as paragraph (78); and (2) by adding at the end the following: "(79) Air Force Sergeants Association.", SEC 1512. ANNUAL REPORT. 36 USC 581L The association shall annually submit to Congress a report concerning the activities of the association during the preceding fiscal year. The annual report shall be submitted on the same date as the report of the audit required by reason of the amendment

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