Page:United States Statutes at Large Volume 110 Part 3.djvu/1032

From Wikisource
Jump to navigation Jump to search
This page needs to be proofread.

110 STAT. 2762 PUBLIC LAW 104-201—SEPT. 23, 1996 tion, the association may not discriminate on the basis of race, color, religion, sex, handicap, age, or national origin. 36 USC 5609. SEC. 1809. 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. 36 USC 5610. SEC. 1810. 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. SEC. 1811. AUDIT OF FINANCIAL TRANSACTIONS. The first section of the Act entitled "An Act to provide for audit of accounts of private corporations established under Federal law", approved August 30, 1964 (36 U.S.C. 1101), is amended by adding at the end the following: "(77) Fleet Reserve Association.". 36 USC 5611. SEC. 1812. 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 1811. The annual report shall not be printed as a public document. 36 USC 5612. SEC. 1813. RESERVATION OF RIGHT TO ALTER, AMEND, OR REPEAL CHARTER The right to alter, amend, or repeal this title is expressly reserved to Congress. 36 USC 5613. SEC. 1814. 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 the Internal Revenue Code of 1986 the charter granted in this title shall terminate. 36 USC 5614. SEC. 1815. TERMINATION. The charter granted in this title shall expire if the association fails to comply with any of the provisions of this title. 36 USC 5615. SEC. 1816. DEFINITION OF STATE. For purposes of this title, the term "State" includes the District of Columbia, the Commonwealth of Puerto Rico, the