Page:United States Statutes at Large Volume 112 Part 2.djvu/479

 PUBLIC LAW 105-225 —AUG. 12, 1998 112 STAT. 1363 §80502. Organization (a) FEDERAL CHARTER.— Gold Star Wives of America (in this chapter, the "corporation"), incorporated in New York, is a federally chartered corporation. (b) EXPIRATION OF CHARTER.—I f the corporation does not comply with any provision of this chapter, the charter granted by tMs chapter expires. §80503. Purposes The purposes of the corporation are— (1) to operate in the public interest, as a nonpartisan and nonprofit organization, solely for patriotic, charitable, literary, educational, scientific, or civic improvement purposes; and (2) the purposes stated in its articles of incorporation that are not inconsistent with the purposes described in clause (1) of this section. §80504. 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 articles of incorporation and bylaws. (b) NONDISCRIMINATION. —The terms of membership may not discriminate on the basis of race, color, religion, or national origin. §80505. Governing body (a) BOARD OF DIRECTORS. —The board of directors and the responsibilities of the board are as provided in the articles of incorporation. (b) OFFICERS. —The officers and the election of officers are as provided in the articles of incorporation. (c) NONDISCRIMINATION.— The requirements for holding office in the corporation may not discriminate on the basis of race, color, religion, or national origin. §80506. Powers The corporation has only the powers provided in its bylaws and articles of incorporation filed in the State in which it is incorporated. § 80507. 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 pay- ment 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 any director, officer, or-employee.

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