Page:United States Statutes at Large Volume 112 Part 2.djvu/546

 112 STAT. 1430 PUBLIC LAW 105-225 —AUG. 12, 1998 to Springfield but may be conducted throughout the States of the United States and the District of Columbia. § 153709. Records and inspection (a) RECORDS. — The corporation shall keep— (1) correct and complete records of account; and (2) minutes of the proceedings of its national convention. (b) INSPECTION. —^A member, or an agent or attorney of the member, may inspect the records of the corporation for any proper purpose, at any reasonable time. § 153710. Service of process The corporation shall have a designated agent in the District of Columbia to receive service of process, notice, or demand for the corporation. Designation of the agent shall be filed in the office of the Mayor of the District of Columbia or another office designated by the Mayor. Notice to or service on the agent is notice to or service on the corporation. § 153711. Liability for acts of ofRcers and agents The corporation is liable for the acts of its officers and agents acting within the scope of their authority. §153712. Annual report Not later than 6 months after the end of each fiscal year, the corporation shall submit a report to Congress on the activities of the corporation during the prior fiscal year. The report may consist of a report on the proceedings of the national convention during that fiscal year. The report may not be printed as a public document. § 153713. Distribution of assets on dissolution or Hnal liquidation On dissolution or final liquidation of the corporation, its assets shall be distributed as follows: (1) All liabilities shall be paid and discharged, or adequate provision for payment and discharge shall be made. (2) Assets held on condition requiring return or transfer on dissolution of the corporation shall be returned or transferred as required by the condition. (3) Assets received and held subject to a limitation permitting use only for charitable, religious, benevolent, educational, or similar purposes, but not held on a condition requiring return or transfer on dissolution of the corporation, shall be transferred to one or more appropriate domestic or foreign corporations, societies, or organizations under a plan of distribution adopted as provided in this chapter. (4) Other assets shall be distributed as provided by the articles of incorporation or bylaws to the extent that the articles or bylaws provide the distributive rights of members, or any class of members, or provide for distribution to others. (5) Any remaining assets may be distributed to persons, societies, organizations, or domestic or foreign corporations engaged in activities not for profit, as provided in a plan of distribution adopted by the council of administration of the corporation and in compliance with the constitution and bylaws of the corporation.

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