Page:United States Statutes at Large Volume 95.djvu/1119

 PUBLIC LAW 97-82—NOV. 20, 1981

95 STAT. 1093

AUDIT OF FINANCIAL TRANSACTIONS

SEC. 11. The first section of the Act entitled "An Act to provide for audit of accounts of private corporations established under the Federal law", approved August 30, 1964 (36 U.S.C. 1101), is amended by adding at the end thereof the following: "(54) Italian American War Veterans of the United States.". ANNUAL REPORT

SEC. 12. The corporation shall report annually to the Congress 36 USC I7ii. concerning the activities of the corporation during the preceding fiscal year. Such annual report shall be submitted at the same time as is the report of the audit required by section 11 of this Act. The report shall not be printed as a public document. RESERVATION OF RIGHT TO AMEND OR REPEAL CHARTER

SEC. 13. The right to alter, amend, or repeal this Act is expressly 36 USC 1712. reserved to the Congress. DEFINITION OF STATE

SEC. 14. For purposes of this Act, the term "State" includes the 36 USC 1713. District of Columbia, the Commonwealth of Puerto Rico, and the territories and possessions of the United States. TAX EXEMPT STATUS

SEC. 15. The corporation shall maintain its status as an organiza- 36 USC 1714. tion exempt from taxation as provided in the Internal Revenue Code. If the corporation fails to maintain such status, the charter granted hereby shall expire. SEC. 16. If the corporation shall fail to comply with any of the 36 USC 1715. restrictions or provisions of this Act, the charter granted hereby shall expire. Approved November 20, 1981.

LEGISLATIVE HISTORY—H.R. 4734: HOUSE REPORT No. 97-287 (Comm. on the Judiciary). CONGRESSIONAL RECORD, Vol. 127 (1981): Oct. 26, considered and passed House. Nov. 10, considered and passed Senate.

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