36 USC 220703 – Purposes
The purposes of the corporation are as provided in its articles of incorporation and include—
(1) preserving and promoting patriotism and loyalty to the United States of America;
(2) perpetuating and establishing memorials to the memory of shipmates who served aboard United States submarines and gave their lives in submarine warfare during World War II;
(3) promoting the spirit and unity that existed among the United States Navy submarine crewmen during World War II;
(4) fostering general public awareness of life aboard submarines during World War II, through securing, restoring, and displaying the submarines that were in service at that time;
(5) sponsoring annual college scholarships; and
(6) performing acts of charity as provided in the constitution and bylaws of the corporation.
Terms Used In 36 USC 220703
- Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.