Page:United States Statutes at Large Volume 67.djvu/601

 67 S T A T. ]

PUBLIC LAW 2 5 7 - A U G. 13, 1953 L I A B I L I T Y FOR ACTS OP OFFICERS A N D A G E N T S

SEC. 11. The corporation shall be liable for the acts of its officers and agents when acting within the scope of their authority. P R O H I B I T I O N AGAINST I S S U A N C E OF STOCK OR P A Y M E N T OF DIVIDENDS

SEC. 12. The corporation shall have no power to issue any shares of stock, nor to declare or pay any dividends, its objects and purposes being solely patriotic and educational. BOOKS AND RECORDS; INSPECTION

SEC. 13. The corporation shall keep correct and complete books and records of account and shall also keep minutes of the proceedings of the annual conference, the board of directors, and committees having any authority under the board of directors; and it shall also keep at its principal office a record of the names and addresses of its members entitled to vote. All books and records of the corporation may be inspected by any member entitled to vote or his agent or attorney at any reasonable time. AUDIT OF F I N A N C I A L TRANSACTIONS,* REPORT TO COMPTROLLER GENERAL

SEC. 14. (a) The financial transactions shall be audited annually for the fiscal year ending June 30 of each year by an independent certified public accountant in accordance with the principles and procedures applicable to commercial corporate transactions, and under such rules and regulations as may be prescribed by the Comptroller General of the United States. The audit shall be conducted at the place or places where the accounts of the corporation are normally kept. All books, accounts, financial records, reports, files, and all other papers, things, or property belonging to or in use by the corporation and necessary to facilitate the audit shall be made available to the person or persons conducting the audit; and full facilities for verifying transactions with the balances or securities held by depositories, fiscal agents, and custodians shall be aiForded to such person or persons. (b) A report of such audit shall be filed annually with the Comptroller General in accordance with such regulations and upon such form as he shall prescribe verified by the certified public accountant by whom the audit is made. U S E O F ASSETS O N DISSOLUTION OR L I Q U I D A T I O N

SEC. 15. Upon final dissolution or liquidation of the corporation, and after the discharge or satisfaction of all outstanding obligations and liabilities, the remaining assets of the corporation shall be transferred by the board of directors to some recognized agency or agencies engaged in the furtherance and advancement of citizenship. EXCLUSIVE RIGHT TO NAME, EMBLEMS, SEALS, AND BADGES

SEC. 16. The corporation shall have the sole and exclusive right to use the name, the National Conference on Citizenship, and such emblems, seals, and badges as the corporation may lawfully adopt. RESERVATION OP RIGHT TO AMEND OK REPEAL CHARTER

SEC. 17. The right to alter, amend, or repeal this Act is expressly reserved. Approved August 13, 1953.

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