36-U.S.C.-152908
§152908 – Restrictions
Pathway
Title 36 > Subtitle II > Part B > Chapter 1529 > Section 152908
Details
- Reference: Section 152908
- Legend: §152908 – Restrictions
- USCode Year: 2013
Provision Content
(a) Stock and Dividends.—The corporation may not issue stock or declare or pay a dividend.
(b) Political Activities.—The corporation or a director or officer as such may not contribute to, support, or participate in any political activity or in any manner attempt to influence legislation.
(c) Distribution of Income or Assets.—The income or assets of the corporation may not inure to the benefit of, or be distributed to, a director, officer, or member during the life of the charter granted by this chapter. This subsection does not prevent the payment of reasonable compensation to an officer or reimbursement for actual necessary expenses in amounts approved by the board of directors.
(d) Loans.—The corporation may not make a loan to a director, officer, or employee.
(e) Claim of Governmental Approval or Authorization.—The corporation may not claim congressional approval or the authority of the United States Government for any of its activities.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1421.)
| Revised Section |
Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 152908(a) | 36:2908(d). | Oct. 30, 1984, Pub. L. 98–561, §8(a)–(e), 98 Stat. 2911. |
| 152908(b) | 36:2908(c). | |
| 152908(c) | 36:2908(a). | |
| 152908(d) | 36:2908(b). | |
| 152908(e) | 36:2908(e). |
In subsection (a), the words any shares of are omitted as unnecessary.
In subsection (c), the words inure to the benefit of are substituted for inure to for consistency in the revised title.
U.S. Encyclopedia of Law Coverage
36-U.S.C.-152709 in the Legal Encyclopedia: Patriotic Organizations
In this entry about 36-U.S.C.-152709, find legal reference material, bibliographies and premiere content related to patriotic organizations in the American Encyclopedia of Law, presenting a comprehensive view of the United States patriotic organizations-specific issues, written by authorities in the field.
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