العربية
中国
Français
Deutsch
Ελληνική
हिन्दी
Italiano
日本語
Português
Русский
EspañolCONGRESSIONAL CHARTER
A 'congressional charter' is a law passed by the United States Congress that states the mission, authority and activities of a group. Congress has issued federal charters from 1791 until 1992.
Prior to the District of Columbia being granted the ability to issue corporate charters in the late 1800s, corporations operating in the District required a congressional charter. With limited exceptions, most corporations created by Congress are not federally chartered, but are simply created as District of Columbia corporations as a result of the enabling law.
Some charters create corporate entities and is akin to being incorporated at the federal level. Examples of such charters are the Federal Reserve Bank, Fannie Mae, Freddie Mac, and the Tennessee Valley Authority. Other national level groups with such charters are the American Red Cross, National Park Foundation and the National Trust for Historic Preservation.
More common is a charter that recognizes a group already are incorporated at the state level. These largely honorific charters is that it "tends to provide an 'official' imprimatur to their activities, and to that extent it may provide them prestige and indirect financial benefit." [1] Groups that fall into this group are usually veterans groups, fraternal groups or youth groups like the Girl Scouts of the USA or the Boy Scouts of America. Congress has chartered about 100 fraternal or patriotic groups. [2]
Eligibility for a charter is based on a group’s activities, whether they are unique, and whether or not they are in the public interest. If this is the case, a bill to grant a charter is introduced in Congress and must be voted into law.
The issuance of charters was officially stopped in 1992, though some exceptions have been made. The granting of a charter does not include congressional oversight. [2]
★ Title 36 of the United States Code
★ U.S. Code Title 36, via United States Government Printing Office
★ U.S. Code Title 36, via Cornell University
1. Congressionally Chartered Nonprofit Organizations ("Title 36 Corporations"): What They Are and How Congress Treats Them
2. What is a congressional charter?
3. What is a congressional charter?
| Contents |
| Background |
| Process |
| See also |
| External links |
| References |
Background
Prior to the District of Columbia being granted the ability to issue corporate charters in the late 1800s, corporations operating in the District required a congressional charter. With limited exceptions, most corporations created by Congress are not federally chartered, but are simply created as District of Columbia corporations as a result of the enabling law.
Some charters create corporate entities and is akin to being incorporated at the federal level. Examples of such charters are the Federal Reserve Bank, Fannie Mae, Freddie Mac, and the Tennessee Valley Authority. Other national level groups with such charters are the American Red Cross, National Park Foundation and the National Trust for Historic Preservation.
More common is a charter that recognizes a group already are incorporated at the state level. These largely honorific charters is that it "tends to provide an 'official' imprimatur to their activities, and to that extent it may provide them prestige and indirect financial benefit." [1] Groups that fall into this group are usually veterans groups, fraternal groups or youth groups like the Girl Scouts of the USA or the Boy Scouts of America. Congress has chartered about 100 fraternal or patriotic groups. [2]
Process
Eligibility for a charter is based on a group’s activities, whether they are unique, and whether or not they are in the public interest. If this is the case, a bill to grant a charter is introduced in Congress and must be voted into law.
The issuance of charters was officially stopped in 1992, though some exceptions have been made. The granting of a charter does not include congressional oversight. [2]
See also
★ Title 36 of the United States Code
External links
★ U.S. Code Title 36, via United States Government Printing Office
★ U.S. Code Title 36, via Cornell University
References
1. Congressionally Chartered Nonprofit Organizations ("Title 36 Corporations"): What They Are and How Congress Treats Them
2. What is a congressional charter?
3. What is a congressional charter?
This article provided by Wikipedia. To edit the contents of this article, click here for original source.
psst.. try this: add to faves
