Page:United States Statutes at Large Volume 112 Part 2.djvu/463

 PUBLIC LAW 105-225—AUG. 12, 1998 112 STAT. 1347 (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. § 60110. 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. § 60111. 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. §60112. 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. CHAPTER 701—FLEET RESERVE ASSOCLVTION Sec. 70101. Definition. 70102. Organization. 70103. Purposes. 70104. Membership. 70105. Governing body. 70106. Powers. 70107. Restrictions. 70108. Duty to maintain corporate and tax-exempt status. 70109. Records and inspection. 70110. Service of process. 70111. Liability for acts of officers and agents. < 70112. Annual report. § 70101. Definition For purposes of this chapter, "State" includes the District of Columbia and the territories and possessions of the United States. §70102. Organization (a) FEDERAL CHARTER.— F leet Reserve Association (in this chapter, the "corporation"), a nonprofit corporation incorporated in Delaware, 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. §70103. Purposes (a) GENERAL. —The purposes of the corporation are as provided in its articles of incorporation and bylaws and include— (1) upholding and defending the Constitution of the United States; (2) aiding and maintaining an adequate naval defense for the United States; (3) assisting the recruitment of the best personnel available for the United States Navy, United States Marine Corps, and United States Coast Guard; (4) providing for the welfare of the personnel who serve in the United States Navy, United States Marine Corps, and United States Coast Guard;

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