36 U.S.C.
United States Code, 1996 Edition
Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 88 - FLEET RESERVE ASSOCIATION
From the U.S. Government Publishing Office, www.gpo.gov

CHAPTER 88—FLEET RESERVE ASSOCIATION

Sec.
5601.
Recognition and grant of Federal charter.
5602.
Powers.
5603.
Purposes.
5604.
Service of process.
5605.
Membership.
5606.
Board of directors.
5607.
Officers.
5608.
Restrictions.
(a)
Income and compensation.
(b)
Loans.
(c)
Issuance of stock and payment of dividends.
(d)
Disclaimer of congressional or Federal approval.
(e)
Corporate status.
(f)
Corporate function.
(g)
Nondiscrimination.
5609.
Liability.
5610.
Maintenance and inspection of books and records.
(a)
Books and records of account.
(b)
Names and addresses of members.
(c)
Right to inspect books and records.
(d)
Application of State law.
5611.
Annual report.
5612.
Reservation of right to alter, amend, or repeal chapter.
5613.
Tax-exempt status required as condition of charter.
5614.
Termination.
5615.
“State” defined.

        

§5601. Recognition and grant of Federal charter

The Fleet Reserve Association, a nonprofit corporation organized under the laws of the State of Delaware, is recognized as such and granted a Federal charter.

(Pub. L. 104–201, div. A, title XVIII, §1801, Sept. 23, 1996, 110 Stat. 2760.)

§5602. Powers

The Fleet Reserve Association (in this chapter referred to as the “association”) shall have only those powers granted to it through its bylaws and articles of incorporation filed in the State of Delaware and subject to the laws of that State.

(Pub. L. 104–201, div. A, title XVIII, §1802, Sept. 23, 1996, 110 Stat. 2760.)

§5603. Purposes

The purposes of the association are those provided in its bylaws and articles of incorporation and shall include the following:

(1) Upholding and defending the Constitution of the United States.

(2) Aiding and maintaining an adequate naval defense for the United States.

(3) Assisting the recruitment of the best personnel available for the United States Navy, United States Marine Corps, and United States Coast Guard.

(4) Providing for the welfare of the personnel who serve in the United States Navy, United States Marine Corps, and United States Coast Guard.

(5) Continuing to serve loyally the United States Navy, United States Marine Corps, and United States Coast Guard.

(6) Preserving the spirit of shipmanship by providing assistance to shipmates and their families.

(7) Instilling love of the United States and the flag and promoting soundness of mind and body in the youth of the United States.

(Pub. L. 104–201, div. A, title XVIII, §1803, Sept. 23, 1996, 110 Stat. 2760.)

§5604. Service of process

With respect to service of process, the association shall comply with the laws of the State of Delaware and those States in which it carries on its activities in furtherance of its corporate purposes.

(Pub. L. 104–201, div. A, title XVIII, §1804, Sept. 23, 1996, 110 Stat. 2761.)

§5605. Membership

Except as provided in section 5608(g) of this title, eligibility for membership in the association and the rights and privileges of members shall be as provided in the bylaws and articles of incorporation of the association.

(Pub. L. 104–201, div. A, title XVIII, §1805, Sept. 23, 1996, 110 Stat. 2761.)

§5606. Board of directors

Except as provided in section 5608(g) of this title, the composition of the board of directors of the association and the responsibilities of the board shall be as provided in the bylaws and articles of incorporation of the association and in conformity with the laws of the State of Delaware.

(Pub. L. 104–201, div. A, title XVIII, §1806, Sept. 23, 1996, 110 Stat. 2761.)

§5607. Officers

Except as provided in section 5608(g) of this title, the positions of officers of the association and the election of members to such positions shall be as provided in the bylaws and articles of incorporation of the association and in conformity with the laws of the State of Delaware.

(Pub. L. 104–201, div. A, title XVIII, §1807, Sept. 23, 1996, 110 Stat. 2761.)

§5608. Restrictions

(a) Income and compensation

No part of the income or assets of the association may inure to the benefit of any member, officer, or director of the association or be distributed to any such individual during the life of this charter. Nothing in this subsection may be construed to prevent the payment of reasonable compensation to the officers and employees of the association or reimbursement for actual and necessary expenses in amounts approved by the board of directors.

(b) Loans

The association may not make any loan to any member, officer, director, or employee of the association.

(c) Issuance of stock and payment of dividends

The association may not issue any shares of stock or declare or pay any dividends.

(d) Disclaimer of congressional or Federal approval

The association may not claim the approval of the Congress or the authorization of the Federal Government for any of its activities by virtue of this chapter.

(e) Corporate status

The association shall maintain its status as a corporation organized and incorporated under the laws of the State of Delaware.

(f) Corporate function

The association shall function as an educational, patriotic, civic, historical, and research organization under the laws of the State of Delaware.

(g) Nondiscrimination

In establishing the conditions of membership in the association and in determining the requirements for serving on the board of directors or as an officer of the association, the association may not discriminate on the basis of race, color, religion, sex, handicap, age, or national origin.

(Pub. L. 104–201, div. A, title XVIII, §1808, Sept. 23, 1996, 110 Stat. 2761.)

Section Referred to in Other Sections

This section is referred to in sections 5605, 5606, 5607 of this title.

§5609. Liability

The association shall be liable for the acts of its officers, directors, employees, and agents whenever such individuals act within the scope of their authority.

(Pub. L. 104–201, div. A, title XVIII, §1809, Sept. 23, 1996, 110 Stat. 2762.)

§5610. Maintenance and inspection of books and records

(a) Books and records of account

The association shall keep correct and complete books and records of account and minutes of any proceeding of the association involving any of its members, the board of directors, or any committee having authority under the board of directors.

(b) Names and addresses of members

The association shall keep at its principal office a record of the names and addresses of all members having the right to vote in any proceeding of the association.

(c) Right to inspect books and records

All books and records of the association may be inspected by any member having the right to vote in any proceeding of the association, or by any agent or attorney of such member, for any proper purpose at any reasonable time.

(d) Application of State law

This section may not be construed to contravene any applicable State law.

(Pub. L. 104–201, div. A, title XVIII, §1810, Sept. 23, 1996, 110 Stat. 2762.)

§5611. Annual report

The association shall annually submit to Congress a report concerning the activities of the association during the preceding fiscal year. The annual report shall be submitted on the same date as the report of the audit required by reason of the amendment made in section 1101(77) of this title. The annual report shall not be printed as a public document.

(Pub. L. 104–201, div. A, title XVIII, §1812, Sept. 23, 1996, 110 Stat. 2762.)

References in Text

Section 1101(77) of this title, referred to in text, was in the original “section 1811”, meaning section 1811 of Pub. L. 104–201, which amended section 1101 of this title to include the Fleet Reserve Association within the definition of “private corporations established under Federal law”. Section 1103 of this title requires a report to Congress on the annual audit of private corporations established under Federal law.

§5612. Reservation of right to alter, amend, or repeal chapter

The right to alter, amend, or repeal this chapter is expressly reserved to Congress.

(Pub. L. 104–201, div. A, title XVIII, §1813, Sept. 23, 1996, 110 Stat. 2762.)

§5613. Tax-exempt status required as condition of charter

If the association fails to maintain its status as an organization exempt from taxation as provided in title 26 the charter granted in this chapter shall terminate.

(Pub. L. 104–201, div. A, title XVIII, §1814, Sept. 23, 1996, 110 Stat. 2762.)

§5614. Termination

The charter granted in this chapter shall expire if the association fails to comply with any of the provisions of this chapter.

(Pub. L. 104–201, div. A, title XVIII, §1815, Sept. 23, 1996, 110 Stat. 2762.)

§5615. “State” defined

For purposes of this chapter, the term “State” includes the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, and the territories and possessions of the United States.

(Pub. L. 104–201, div. A, title XVIII, §1816, Sept. 23, 1996, 110 Stat. 2762.)