article: SECTION 1. RECOGNITION AND GRANT OF FEDERAL CHARTER. The Association of American State Geologists, a nonprofit corporation organized under the laws of the State of Delaware, is recognized and granted a Federal charter. SEC. 2. POWERS. The Association of American State Geologists (in this Act referred to as the ``association'') shall have only those powers granted to it through its constitution, bylaws and article of incorporation filed in the State of Delaware and subject to the laws of the State of Delaware. SEC. 3. PURPOSES. The purposes of the association are those provided in its constitution, bylaws and article of incorporation and shall include the following: (1) To promote, advance and protect the common good, welfare and security of the Nation through the application of geology and related earth sciences to-- (A) foster wise and responsible stewardship of the Nation's natural resources; (B) foster the creation of national wealth, general prosperity and a high quality of life in the United States; (C) foster appropriate and sustainable economic development; (D) foster prudent exploration, development, utilization, management and conservation of the Nation's land, seas and seabeds including energy, mineral, water, environmental and ecological resources; (E) avoid, reduce and mitigate hazards related to geology, earthquakes, volcanoes, landslides and other natural hazards through public awareness and coordination with appropriate local, State, regional and Federal agencies; and (F) educate the general public concerning the critical importance of geology to society, civilization, culture, economy and national security. (2) To advance the science and practical application of geology and related earth sciences in the United States and its possessions. (3) To improve the effectiveness of State geological surveys through the interchange of ideas pertaining to their administrative organization, programs, and applications to economic changes and other geologically related issues. (4) To improve methods of assembling and disseminating data and information to mining, energy, agriculture, utility, construction, insurance and banking industries; educational institutions; civic and professional organizations; legislators; governmental agencies; and the public. (5) To effectively coordinate activities with Federal and State agencies working in related fields. SEC. 4. SERVICE OF PROCESS. With respect to service of process, the association shall comply with the law of the State of Delaware and those States in which it carries on its activities in furtherance of the purposes of the association. SEC. 5. MEMBERSHIP. Except as provided in section (8)(g), eligibility for membership in the association and the rights and privileges of members shall be as provided in the constitution, bylaws and articles of incorporation of the association. SEC. 6. BOARD OF DIRECTORS. Except as provided in section 8(g), the composition of the board of directors of the association and the responsibilities of the board shall be as provided in the constitution, bylaws and articles of incorporation of the association. SEC. 7. OFFICERS. Except as provided in section 8(g), the positions of officers of the association and the election of members to such positions shall be as provided in the constitution, bylaws and articles of incorporation of the association. SEC. 8. RESTRICTIONS. (a) Income and Compensation.--No part of the income or assets of the association may insure 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 Congress or the authorization of the Federal Government for any of its activities by virtue of this Act. (e) Association Status.--The association shall maintain its status as an entity organized and incorporated under the laws of the State of Delaware. (f) Association 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, disability, age or national origin. SEC. 9. 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. SEC. 10. 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. 11. 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: ``(80) Association of American State Geologists.''. SEC. 12. 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 11. The annual report shall not be printed as a public document. SEC. 13. RESERVATION OF RIGHT TO ALTER, AMEND, OR REPEAL CHARTER. The right to alter, amend, or repeal this Act is expressly reserved to Congress. SEC. 14. TAX-EXEMPT STATUS REQUIRED AS CONDITION OF CHARTER. If the association fails to maintain its status as an entity exempt from taxation as provided in the Internal Revenue Code of 1986 the charter granted in this Act shall terminate. SEC. 15. TERMINATION. The charter granted in this Act shall expire if the association fails to comply with any of the provisions of this Act. SEC. 16. DEFINITION OF STATE. For the purposes of this Act, 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.
summary: Grants a Federal charter to the Association of American State Geologists (a nonprofit corporation organized under the laws of Delaware).