858
PUBLIC LAW 85-761-AUG. 26, 1958
[72 S T A T.
judge advocate, an inspector, a surgeon, a historian, and other elected officers as prescribed in the constitution and bylaws of the corporation, (b) The officers of the corporation shall be elected in such manner and for such terms and with such duties as may be prescribed in the constitution and bylaws of the corporation. USE or
INCOME; LOANS TO OFFICERS, DIRECTORS, OR EMPLOYEES
SEC. 9. (a) No part of the income or assets of the corporation shall inure to any member, officer, or director, or be distributable to any such person otherwise than upon dissolution or final liquidation of the corporation as provided in section 15 of this Act. Nothing in this subsection, however, shall be construed to prevent the payment of compensation to officers of the corporation in amounts approved by the executive committee of the corporation. (b) The corporation shall not make loans to its officers, directors, or employees. Any director who votes for or assents to the making of a loan to an officer, director, or employee of the corporation, and any officer who participates in the making of such loan, shall be jointly and severally liable to the corporation for the amount of such loan until the repayment thereof. N O N P O L I T I C A L N A T U R E OF CORPORATION
SEC. 10. The corporation, and its officers and directors as such, shall not contribute to or otherwise support or assist any political party or candidate for public office. L I A B I L I T Y FOR ACTS OF OFFICERS A N D AGENTS
SEC. 11. The corporation shall be liable for the acts of its officers and agents when acting within the scope of their authority. P R O H I B I T I O N AGAINST I S S U A N C E OF STOCK OR P A Y M E N T OF DIVIDENDS
SEC. 12. The corporation shall have no power to issue any shares of stock or to declare or pay any dividends. BOOKS A N D RECORDS; INSPECTION
SEC. 13. The corporation shall keep correct and complete books and records of account and shall keep minutes of the proceedings of its members, board of directors, and committees having any authority under the board of directors, and it shall also keep at its principal office a record of the names and addresses of its members entitled to vote. All books and records of the corporation may be inspected by any member entitled to vote, or his agent or attorney, for any proper purpose, at any reasonable time. A U D I T OF F I N A N C I A L I H A N S ACTION S
SEC, 14. (a) The financial transactions shall be audited annually, at the end of the fiscal year established by the corporation, by an independent certified public accountant in accordance with the principles and procedures applicable to commercial corporate transactions. The audit shall be conducted at the place or places where the accounts of the corporation are normally kept. All books, accounts, financial records, reports, files, and all other papers, things, or property belonging to or in use by the corporation and necessary to facilitate the audit shall be made available to the person or persons conducting the
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