§ 657c. — National Veterans Business Development Corporation.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC657c]
TITLE 15--COMMERCE AND TRADE
CHAPTER 14A--AID TO SMALL BUSINESS
Sec. 657c. National Veterans Business Development Corporation
(a) Establishment
There is established a federally chartered corporation to be known
as the National Veterans Business Development Corporation (in this
section referred to as the ``Corporation'') which shall be incorporated
under the laws of the District of Columbia and which shall have the
powers granted in this section.
(b) Purposes of the Corporation
The purposes of the Corporation shall be--
(1) to expand the provision of and improve access to technical
assistance regarding entrepreneurship for the Nation's veterans; and
(2) to assist veterans, including service-disabled veterans,
with the formation and expansion of small business concerns by
working with and organizing public and private resources, including
those of the Small Business Administration, the Department of
Veterans Affairs, the Department of Labor, the Department of
Commerce, the Department of Defense, the Service Corps of Retired
Executives (described in section 637(b)(1)(B) of this title), the
Small Business Development Centers (described in section 648 of this
title), and the business development staffs of each department and
agency of the United States.
(c) Board of Directors
(1) In general
The management of the Corporation shall be vested in a Board of
Directors composed of nine voting members and three nonvoting ex
officio members.
(2) Appointment of voting members
The President shall, after considering recommendations which
shall be proposed by the Chairmen and Ranking Members of the
Committees on Small Business and the Committees on Veterans Affairs
of the House of Representatives and the Senate, appoint United
States citizens to be voting members of the Board, not more than
five of whom shall be members of the same political party.
(3) Ex officio members
The Administrator of the Small Business Administration, the
Secretary of Defense, and the Secretary of Veterans Affairs shall
serve as the nonvoting ex officio members of the Board of Directors.
(4) Initial appointments
The initial members of the Board of Directors shall be appointed
not later than 60 days after August 17, 1999.
(5) Chairperson
The members of the Board of Directors appointed under paragraph
(2) shall elect one such member to serve as chairperson of the Board
of Directors for a term of 2 years.
(6) Terms of appointed members
(A) In general
Each member of the Board of Directors appointed under
paragraph (2) shall serve a term of 6 years, except as provided
in subparagraph (B).
(B) Terms of initial appointees
As designated by the President at the time of appointment,
of the members first appointed--
(i) three shall be for a term of 2 years; and
(ii) three shall be for a term of 4 years.
(C) Unexpired terms
Any member of the Board of Directors appointed to fill a
vacancy occurring before the expiration of the term for which
the member's predecessor was appointed shall be appointed only
for the remainder of the term. A member may serve after the
expiration of that member's term until a successor has taken
office.
(7) Vacancies
Any vacancy on the Board of Directors shall be filled in the
manner in which the original appointment was made. In the case of a
vacancy in the office of the Administrator of the Small Business
Administration or the Secretary of Veterans Affairs, and pending the
appointment of a successor, an acting appointee for such vacancy may
serve as an ex officio member.
(8) Ineligibility for other offices
No voting member of the Board of Directors may be an officer or
employee of the United States while serving as a member of the Board
of Directors or during the 2-year period preceding such service.
(9) Impartiality and nondiscrimination
The Board of Directors shall administer the affairs of the
Corporation fairly and impartially and without discrimination.
(10) Obligations and expenses
The Board of Directors shall prescribe the manner in which the
obligations of the Corporation may be incurred and in which its
expenses shall be allowed and paid.
(11) Quorum
Five voting members of the Board of Directors shall constitute a
quorum, but a lesser number may hold hearings.
(d) Corporate powers
On October 1, 1999, the Corporation shall become a body corporate
and as such shall have the authority to do the following:
(1) To adopt and use a corporate seal.
(2) To have succession until dissolved by an Act of Congress.
(3) To make contracts or grants.
(4) To sue and be sued, and to file and defend against lawsuits
in State or Federal court.
(5) To appoint, through the actions of its Board of Directors,
officers and employees of the Corporation, to define their duties
and responsibilities, fix their compensations, and to dismiss at
will such officers or employees.
(6) To prescribe, through the actions of its Board of Directors,
bylaws not inconsistent with Federal law and the law of the State of
incorporation, regulating the manner in which its general business
may be conducted and the manner in which the privileges granted to
it by law may be exercised.
(7) To exercise, through the actions of its Board of Directors
or duly authorized officers, all powers specifically granted by the
provisions of this section, and such incidental powers as shall be
necessary.
(8) To solicit, receive, and disburse funds from private,
Federal, State and local organizations.
(9) To accept and employ or dispose of in furtherance of the
purposes of this section any money or property, real, personal, or
mixed, tangible or intangible, received by gift, devise, bequest, or
otherwise.
(10) To accept voluntary and uncompensated services.
(e) Corporate funds
(1) Deposit of funds
The Board of Directors shall deposit all funds of the
Corporation in federally chartered and insured depository
institutions until such funds are disbursed under paragraph (2).
(2) Disbursement of funds
Funds of the Corporation may be disbursed only for purposes that
are--
(A) approved by the Board of Directors by a recorded vote
with a quorum present; and
(B) in accordance with the purposes of the Corporation as
specified in subsection (b) of this section.
(f) Network of information and assistance centers
In carrying out the purpose described in subsection (b) of this
section, the Corporation shall establish and maintain a network of
information and assistance centers for use by veterans and the public.
(g) Annual report
On or before October 1 of each year, the Board of Directors shall
transmit a report to the President and the Congress describing the
activities and accomplishments of the Corporation for the preceding year
and the Corporation's findings regarding the efforts of Federal, State
and private organizations to assist veterans in the formation and
expansion of small business concerns.
(h) Assumption of duties of advisory committee
On October 1, 2004, the Corporation established under this section
shall assume the duties, responsibilities, and authority of the Advisory
Committee on Veterans Affairs established under section 203 of this
Act.\1\
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\1\ See References in Text note below.
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(i) Use of mails
The Corporation may use the United States mails in the same manner
and under the same conditions as the departments and agencies of the
United States.
(j) Professional Certification Advisory Board
(1) In general
Acting through the Board of Directors, the Corporation shall
establish a Professional Certification Advisory Board to create
uniform guidelines and standards for the professional certification
of members of the Armed Services to aid in their efficient and
orderly transition to civilian occupations and professions and to
remove potential barriers in the areas of licensure and
certification.
(2) Membership
The members of the Advisory Board shall serve without
compensation, shall meet in the District of Columbia no less than
quarterly, and shall be appointed by the Board of Directors as
follows:
(A) Private sector members
The Corporation shall appoint not less than seven members
for terms of 2 years to represent private sector organizations
and associations, including the American Association of
Community Colleges, the Society for Human Resource Managers, the
Coalition for Professional Certification, the Council on
Licensure and Enforcement, and the American Legion.
(B) Public sector members
The Corporation shall invite public sector members to serve
at the discretion of their departments or agencies and shall--
(i) encourage the participation of the Under Secretary
of Defense for Personnel and Readiness;
(ii) encourage the participation of two officers from
each branch of the Armed Forces to represent the Training
Commands of their branch; and
(iii) seek the participation and guidance of the
Assistant Secretary of Labor for Veterans' Employment and
Training.
(k) Authorization of appropriations
(1) In general
Subject to paragraph (2), there are authorized to be
appropriated to the Corporation to carry out this section--
(A) $4,000,000 for fiscal year 2001;
(B) $4,000,000 for fiscal year 2002;
(C) $2,000,000 for fiscal year 2003; and
(D) $2,000,000 for fiscal year 2004.
(2) Matching requirement
(A) Fiscal year 2002
The amount made available to the Corporation for fiscal year
2002 may not exceed twice the amount that the Corporation
certifies that it will provide for that fiscal year from sources
other than the Federal Government.
(B) Subsequent fiscal years
The amount made available to the Corporation for fiscal year
2003 or 2004 may not exceed the amount that the Corporation
certifies that it will provide for that fiscal year from sources
other than the Federal Government.
(3) Privatization
The Corporation shall institute and implement a plan to raise
private funds and become a self-sustaining corporation.
(Pub. L. 85-536, Sec. 2[33], as added Pub. L. 106-50, title II,
Sec. 202(a), Aug. 17, 1999, 113 Stat. 236; amended Pub. L. 106-554,
Sec. 1(a)(9) [title VIII, Sec. 808], Dec. 21, 2000, 114 Stat. 2763,
2763A-706.)
References in Text
Section 203 of this Act, referred to in subsec. (h), probably means
section 203 of Pub. L. 106-50, title II, Aug. 17, 1999, 113 Stat. 239,
which is set out as a note under section 657b of this title.
Codification
August 17, 1999, referred to in subsec. (c)(4), was in the original
``the date of enactment of this Act'', which was translated as meaning
the date of enactment of Pub. L. 106-50, which enacted this section, to
reflect the probable intent of Congress.
Amendments
2000--Subsec. (k)(1). Pub. L. 106-554, Sec. 1(a)(9) [title VIII,
Sec. 808(1)], added par. (1) and struck out heading and text of former
par. (1). Text read as follows: ``Subject to paragraph (2), there are
authorized to be appropriated to the Corporation to carry out this
section--
``(A) $2,000,000 for fiscal year 2000;
``(B) $4,000,000 for fiscal year 2001;
``(C) $4,000,000 for fiscal year 2002; and
``(D) $2,000,000 for fiscal year 2003.''
Subsec. (k)(2)(A). Pub. L. 106-554, Sec. 1(a)(9) [title VIII,
Sec. 808(2)], substituted ``2002'' for ``2001'' in heading and text.
Subsec. (k)(2)(B). Pub. L. 106-554, Sec. 1(a)(9) [title VIII,
Sec. 808(3)], substituted ``2003 or 2004'' for ``2002 or 2003''.
General Accounting Office Report
Pub. L. 106-50, title II, Sec. 202(b), Aug. 17, 1999, 113 Stat. 239,
provided that: ``Not later than 180 days after the last day of the
second fiscal year beginning after the date on which the initial members
of the Board of Directors of the National Veterans Business Development
Corporation are appointed under section 33(c) of the Small Business Act
[15 U.S.C. 657c(c)] (as added by this section), the Comptroller General
of the United States shall evaluate the effectiveness of the National
Veterans Business Development Corporation in carrying out the purposes
under section 33(b) of the Small Business Act (as added by this
section), and submit to Congress a report on the results of that
evaluation.''
