Page:United States Statutes at Large Volume 112 Part 2.djvu/537

 PUBLIC LAW 105-225—AUG. 12, 1998 112 STAT. 1421 of members are as provided in the constitution and bylaws of the corporation. (b) NONDISCRIMINATION. —The terms of membership may not discriminate on the basis of race, color, religion, or national origin. §152905. Governing body (a) BOARD OF DIRECTORS. —The board of directors and the responsibilities of the board are as provided in the articles of incorporation or bylaws. (b) OFFICERS. —The officers and the election of officers are as provided in the articles of incorporation or bylaws. (c) NONDISCRIMINATION.— The requirements for holding office in the corporation may not discriminate on the basis of race, color, religion, or national origin. §152906. Powers The corporation has only the powers provided in its bylaws and articles of incorporation filed in each State in which it is incorporated. § 152907. Exclusive right to name, seals, emblems, and badges The corporation has the exclusive right to use the name "National Society, Daughters of the American Colonists'* and seals, emblems, and badges the corporation adopts. This section does not affect any vested rights. §152908. 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 a director, officer, or employee. (e) CLAIM OF GOVERNMENTAL APPROVAL OR AUTHORIZATION.— The corporation may not claim congressional approval or the authority of the United States Government for any of its activities. § 152909. Duty to maintain corporate and tax-exempt status (a) CORPORATE STATUS. —The corporation shall maintain its status as a corporation incorporated under the laws of each State in which it is incorporated. (b) TAX-EXEMPT STATUS. —The corporation shall maintain its status as an organization exempt from taxation under the Internal Revenue Code of 1986 (26 U.S.C. 1 et seq.). § 152910. Records and inspection (a) RECORDS. — The corporation shall keep—

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