§ 230501. Definition

For purposes of this chapter, “State” includes the District of Columbia and the territories and possessions of the United States.

§ 230502. Organization

• (a) Vietnam Veterans of America, Inc. (in this chapter, the “corporation”), a nonprofit corporation incorporated in New York, is a federally chartered corporation.
• (b) If the corporation does not comply with any provision of this chapter, the charter granted by this chapter expires.

§ 230503. Purposes

The purposes of the corporation are as provided in its articles of incorporation, constitution, and bylaws and include a commitment—

• (1) to uphold and defend the Constitution of the United States;
• (2) to foster improvement of the condition of Vietnam-era veterans;
• (3) to promote the social welfare (including educational, economic, social, physical, and cultural improvement) of Vietnam-era veterans and other veterans in the United States by encouraging their growth, development, readjustment, self-respect, self-confidence, and usefulness;
• (4) to improve conditions for Vietnam-era veterans and develop channels of communication to assist Vietnam-era veterans;
• (5) to conduct and publish research, on a nonpartisan basis, pertaining to—
  • (A) the relationship between Vietnam-era veterans and American society;
  • (B) the Vietnam war experience;
  • (C) the role of the United States in securing peaceful coexistence for the world community; and
  • (D) other matters that affect the educational, economic, social, physical, or cultural welfare of Vietnam-era veterans, other veterans, and their families;
• (6) to assist disabled Vietnam-era veterans and other veterans in need of assistance and the dependents and survivors of those veterans; and
• (7) to consecrate the efforts of the members of the corporation, and Vietnam-era veterans generally, to mutual helpfulness and service to their country.

§ 230504. Membership

• (a) Except as provided in this chapter, eligibility for membership in the corporation and the rights and privileges of members are as provided in the constitution and bylaws of the corporation.
• (b) The terms of membership may not discriminate on the basis of race, color, religion, sex, disability, age, or national origin.

§ 230505. Governing body

• (a) The board of directors and the responsibilities of the board are as provided in the constitution and bylaws of the corporation.
• (b) The officers and the election of officers are as provided in the constitution and bylaws of the corporation.
• (c) The requirements for serving as a director or officer may not discriminate on the basis of race, color, religion, sex, disability, age, or national origin.

§ 230506. Powers

The corporation has only the powers provided in its articles of incorporation filed in the State of incorporation and in its constitution and bylaws.

§ 230507. Exclusive right to name, seals, emblems, and badges

The corporation has the exclusive right to use the names “The Vietnam Veterans of America, Inc.”, “Vietnam Veterans of America, Inc.”, and “Vietnam Veterans of America”, and seals, emblems, and badges the corporation adopts. This section does not affect any vested rights.

§ 230508. Restrictions

• (a) The corporation may not issue stock or declare or pay a dividend.
• (b) The income or assets of the corporation may not inure to the benefit of, or be distributed to, a director, officer, or member during the life of the charter granted by this chapter. This subsection does not prevent the payment of reasonable compensation to an officer or reimbursement for actual necessary expenses in amounts approved by the board of directors.
• (c) The corporation may not make a loan to a director, officer, or employee.
• (d) The corporation may not claim congressional approval or the authority of the United States Government for any of its activities.

§ 230509. Duty to maintain tax-exempt status

The corporation shall maintain its status as an organization exempt from taxation under the Internal Revenue Code of 1986 ( 26 U.S.C. 1 et seq.).

§ 230510. Records and inspection

• (a) The corporation shall keep—
  • (1) correct and complete records of account;
  • (2) minutes of the proceedings of its members, board of directors, and committees having any of the authority of its board of directors; and
  • (3) at its principal office, a record of the names and addresses of its members entitled to vote.
• (b) A member entitled to vote, or an agent or attorney of the member, may inspect the records of the corporation for any proper purpose, at any reasonable time.

§ 230511. Service of process

The corporation shall comply with the law on service of process of each State in which it is incorporated and each State in which it carries on activities.

§ 230512. Liability for acts of officers and agents

The corporation is liable for the acts of its officers and agents acting within the scope of their authority.

§ 230513. Annual report

The corporation shall submit an annual report to Congress on the activities of the corporation during the prior fiscal year. The report shall be submitted at the same time as the report of the audit required by section 10101 of this title . The report may not be printed as a public document.