Page:United States Statutes at Large Volume 93.djvu/1302

 93 STAT. 1270

M

36 USC 1305.

PUBLIC LAW 96-165—DEC. 29, 1979

in accordance with the determination of its board of governors, in compliance with its bylaws and all Federal and State laws applicable thereto: Provided, however, That its property shall not, in any event, inure to the benefit of any private person except a fund, foundation, association, or corporation operated exclusively for charitable purposes. (d) No part of the income or assets of the corporation shall inure to any member, governor, officer, or employee of the corporation or be distributable to any person during the life of the corporation or upon its dissolution or liquidation. Nothing in this subsection, however, shall be construed to prevent the payment of reasonable compensation for services rendered to officers and employees of the corporation and other persons, or to prevent their reimbursement for actual necessary expenses in amounts approved by the corporation's board of governors. (e) The corporation shall not make loans to its members, officers, governors, or employees. SEC. 5, GOVERNANCE OF THE CORPORATION. (a) MEMBERS OF THE CORPORATION.—The persons

listed in section 1 are the present members of United Service Organizations, Incorporated, a corporation organized under the Not-for-Profit Corporation Law of the State of New York (hereinafter "the New York Corporation"). Upon the enactment of this charter, and for not more than one year thereafter, the said persons shall be the members of the corporation hereunder. They shall adopt bylaws and perform all other acts necessary to complete the organization of the corporation. Thereafter, the members of the corporation shall consist of nine persons designated by the President of the United States, and such representatives of the organizations listed in section 2 of this Act and of the public at large as shall be specified in the bylaws. The rights, privileges, and designations of the classes of members shall also be as specified in the bylaws. (b) BOARD OF GOVERNORS.—The management of the corporation

^.

shall be entrusted to a board of governors, which shall be responsible for the general policies and program of the corporation and for the control of its affairs and property. Upon the enactment of this charter and for not more than one year thereafter, the membership of the initial board of governors of the corporation created hereunder shall consist of the present members of the board of governors of the New York corporation. Thereafter, the board of governors shall be elected by the members of the corporation for such terms and in such classes as shall be specified in the bylaws, and shall include the following persons: (1) Six members appointed by the President of the United States. (2) The Secretary of Defense, or his designee. (3) Such representatives of the organizations listed in section 2 of this Act and of the public at large as shall be specified in the bylaws. (c) OTHER GOVERNING BODIES.—The corporation shall have such other governing bodies and committees as may be provided for in its bylaws. (d) OFFICERS.—The office of honorary chairman of the corporation shall be tendered to the President of the United States. Upon acceptance of such office, the honorary chairman shall be invited to preside at such meetings of the corporation as he may deem appropriate and convenient. The corporation shall have such other officers as may be designated in its bylaws.

�